Streetbeat News

FAT

FAT Brands Inc.

https://www.fatbrands.com

Industry

Restaurants

FAT Brands Inc., a multi-brand franchising company, acquires, develops, and manages quick service, fast casual, casual dining, and polished casual dining restaurant concepts worldwide. As of August 22, 2022, it owned seventeen restaurant brands, including Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli's, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo's Cafe and Buffalo's Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean, and Ponderosa Steakhouse/Bonanza Steakhouse, as well as franchises and owns approximately 2,300 locations. The company was incorporated in 2017 and is headquartered in Beverly Hills, California. FAT Brands Inc. operates as a subsidiary of Fog Cutter Holdings, LLC.

Open

5.36

Mkt cap

92M

Volume

15K

High

5.46

P/E Ratio

-0.59

52-wk high

9.47

Low

5.22

Div yield

0.10

52-wk low

4.51

FAT Brands has announced its intention to defend itself vigorously while seeking a just resolution to unspecified charges. The company's statement indicates a proactive approach to legal challenges, emphasizing its commitment to resolving the issues at hand.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 3:56 pm

FAT Brands Inc. has been indicted on two violations of SOX 402, related to arranging $2.65 million in loans to Andy Wiederhorn. The company describes these charges as unprecedented and unjust, highlighting that the alleged conduct ended over three years ago and that the company has cooperated with the investigation. FAT Brands intends to defend itself vigorously while seeking a fair resolution. Despite the legal challenges, FAT Brands emphasizes its significant growth and commitment to its operating plans and growth strategy.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 3:55 pm

FAT Brands shares were halted due to a circuit breaker triggered by a significant drop, with the stock currently down by 15.1%.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 3:54 pm

Fat Brands and its chair, Andy Wiederhorn, have been indicted in a $47 million 'sham' loan scheme. The indictment includes charges of wire fraud, tax evasion, and other counts. The SEC has also filed a civil complaint for related violations. Wiederhorn's fraudulent activities reportedly accounted for 44% of Fat Brands' revenue from 2017 to 2021, impacting the company's ability to pay bills. The scheme involved undisclosed cash transfers and personal expenditures by Wiederhorn, funded by the company.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 3:44 pm

FAT Brands Inc. is expanding its partnership with Six Flags by introducing Hurricane Grill & Wings to Six Flags Great Escape Lodge in Queensbury, New York. This marks the third FAT Brands' restaurant concept to enter Six Flags properties, following Fatburger and Johnny Rockets. The new location represents FAT Brands' commitment to growth in non-traditional venues and expands Hurricane Grill & Wings' presence in New York state.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 1:07 pm

FAT Brands reported Q1 2024 adjusted EPS of $(2.05), missing the $(1.15) estimate, and sales of $151.967M, missing the $157.675M estimate. This represents a 33.99% decrease in EPS and a 43.78% increase in sales year-over-year.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 9:29 pm

FAT Brands Inc (NASDAQ:FAT), owner of Fatburger, is celebrating 4/20 with a special offering of its $4.20 Original Fatburger, available for one day only. Following last year's success with THC-infused ketchup in partnership with Kiva Confections, Fatburger continues the tradition with a special burger deal and a free shake for online orders throughout the month. The initiative is part of Fatburger's ongoing efforts to engage with the cannabis culture and cater to its customers' cravings, especially on 4/20, known for its association with marijuana and increased appetite.

Portfolio Pulse from Nina Zdinjak

April 19, 2024 | 1:45 pm

FAT Brands reported Q4 2023 adjusted EPS of $(1.150), surpassing the $(1.220) estimate, with sales of $158.600M exceeding the $150.400M forecast. This represents a 52.77% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 9:27 pm

Numerous companies are scheduled to report their quarterly earnings on March 7, 2024, with a mix of projected earnings and losses across various sectors. Notable mentions include CI&T, Stevanato Gr, ABM Industries, Bilibili, BJ's Wholesale Club, Burlington Stores, and many others, indicating a significant day for investors to monitor potential market movements.

Portfolio Pulse from Benzinga Insights

March 07, 2024 | 9:49 am

FAT Brands (NASDAQ:FAT) is scheduled to release its quarterly earnings report on March 7, 2024, with analysts expecting an EPS of $-1.21. The company's past earnings performance shows mixed results, with the last quarter beating estimates but resulting in a 5.26% share price drop the following day. Shares are currently trading at $7.98, up 9.55% over the last year. Investors are looking for positive guidance for the next quarter.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 8:01 pm

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