FAT Brands Inc Q2 2022 Earnings Call Transcript

Edited Transcript of FAT.OQ earnings conference call or presentation 28-Jul-22 9:00pm GMT

...systemwide sales increased 7.5% for the same period. For the full fiscal year 2022, we remain on track to deliver an annual run rate revenue of approximately $400 million with system-wide sales of over $2.2 billion. Our top line growth was matched by an equally robust increase in adjusted EBITDA. Adjusted EBITDA increased to $29.5 million in the second quarter, following a strong Q1 adjusted EBITDA of $15.1 million. Looking to the second half of the year, we expect both Q3 and Q4 adjusted EBITDA to be similarly strong for an annualized run rate adjusted EBITDA of approximately $90 million to $95 million for fiscal year 2022. FAT Brands continues to grow both organically and through acquisitions. We're very pleased with the progress we've made against our asset-light growth strategy as we have expanded our portfolio to 17 restaurant brands with approximately 760 different franchisees who operate in aggregate of 2,227 franchise restaurants in addition to our 127 company-owned stores. Today,...

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