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November 9, 2018

FAT Brands reports $5.9m in total revenues for Q3 2018

US-based restaurant franchising company FAT Brands has reported total revenues of $5.9m in this year’s third quarter ending 30 September.

US-based restaurant franchising company FAT Brands has reported total revenues of $5.9m in this year’s third quarter ending 30 September.

The company currently owns Fatburger, Buffalo’s Cafe, Buffalo’s Express, Hurricane Grill & Wings and Ponderosa & Bonanza Steakhouses restaurant brands.

The franchise company reported a net income of $10,000, $0.00 per share, as well as an EBITDA of $1.8m for the third quarter this year.

The Fatburger and Buffalo’s Express brands reported total revenues of $2.9m and a 4.7% increase in system-wide same-store sales year-over-year.

“The successful integration of the Hurricane restaurants onto our platform demonstrates the strength of our growth strategy and our ability to generate synergies.”

Buffalo’s Cafe reported a 6.4% increase in system-wide same-store sales and a total revenue of $581,000.

The company’s Ponderosa & Bonanza Steakhouse brand reported a 4.6% increase in system-wide same-store sales, as well as total revenues of $1.4m.

However, the company’s newly acquired Hurricane Grill & Wings brand reported a 2.4% decline in system-wide same-store sales, as well as total revenues of $1.3m.

FAT Brands president and CEO Andy Wiederhorn said: “Third quarter results demonstrated continued business momentum as we achieved acquisition synergies and positive same-store sales growth across our Fatburger & Buffalo’s Express, Buffalo’s Cafe, and Ponderosa and Bonanza Steakhouse brands.

“During the quarter we completed our previously announced acquisition of Hurricane Grill & Wings, our first acquisition following our IPO. The successful integration of the Hurricane restaurants onto our platform demonstrates the strength of our growth strategy and our ability to generate synergies.

“Inclusive of these acquisition synergies, we expect to achieve an annualised revenue run-rate of $22m to $24m and an annualised EBITDA run-rate of $10m to $11m beginning in the first quarter of 2019. Our pipeline of brands for acquisition remains robust, and we continue to actively work to complete additional transactions.”

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