FAT Brands Inc Q3 2022 Earnings Call Transcript

Edited Transcript of FAT.OQ earnings conference call or presentation 20-Oct-22 9:00pm GMT

...Now I would like to discuss our recent performance. We reported total revenue of $103.2 million in the third quarter of 2022 compared to $29.8 million in the third quarter of 2021, a 247% increase. The significant increase in revenue was a result of our 2021 acquisitions, coupled with ongoing sales recovery from the negative effects of the COVID-19 pandemic in the prior year. Comparable system-wide sales increased 7% year-to-date. On a pro forma basis, including all our brands acquired, it's 5% year-to-date. System-wide sales grew $548.2 million or by 57% when compared to the prior year quarter of $349.8 million. Year-to-date system-wide sales increased to $1,623.9 million. For the full fiscal year 2022, we remain on track to deliver an annual run rate of approximately $400 million of revenue and system-wide sales of over $2.2 billion. Our sales remain resilient in this economic environment due to our diverse portfolio of brands with average checks ranging from approximately $8 to $37....

Transcript