Earnings summaries and quarterly performance for Fat Brands.
Executive leadership at Fat Brands.
Andrew Wiederhorn
Detailed
President and Chief Executive Officer
CEO
AS
Allen Sussman
Detailed
Executive Vice President and General Counsel, Secretary
KK
Kenneth Kuick
Detailed
Chief Financial Officer
RR
Ron Roe
Detailed
Senior Vice President of Finance
TW
Taylor Wiederhorn
Detailed
Chief Development Officer
TW
Thayer Wiederhorn
Detailed
Chief Operating Officer
Board of directors at Fat Brands.
CV
Carmen Vidal
Detailed
Director
DB
Donald Berchtold
Detailed
Director
JE
James Ellis
Detailed
Director
JA
John Allen
Detailed
Director
JM
John Metz
Detailed
Director
LC
Lynne Collier
Detailed
Director
ME
Mark Elenowitz
Detailed
Lead Independent Director
MW
Mason Wiederhorn
Detailed
Director
MG
Matthew Green
Detailed
Director
PF
Peter Feinstein
Detailed
Director
TC
Tyler Child
Detailed
Director
Research analysts who have asked questions during Fat Brands earnings calls.
Roger Lipton
Lipton Financial Services
5 questions for FAT
Also covers: BTBD, STKS, TWNP
JG
Joe Gomes
Noble Capital Markets
2 questions for FAT
Also covers: ACCO, BLBX, BTBT +15 more
JG
Joseph Gomes
G.research, LLC
2 questions for FAT
Also covers: ACCO, BTBT, CMTL +17 more
Alton Stump
Loop Capital Markets
1 question for FAT
Also covers: CBRL, JACK, LANC
JD
Josh Dillon
NOBLE Capital Markets
1 question for FAT
Recent press releases and 8-K filings for FAT.
FAT Brands Discusses Strategic Growth and Debt Restructuring
FAT
Debt Issuance
New Projects/Investments
Demand Weakening
- FAT Brands, a global franchise company with 18 brands, continues to expand through acquisitions, co-branding, and non-traditional locations, with high-growth brands including Fatburger, Johnny Rockets, and Twin Peaks.
- The company's manufacturing facility, acquired in 2021, generates approximately $15 million of EBITDA annually and operates at 45% capacity, with potential for expansion.
- FAT Brands is actively engaged in restructuring its non-recourse debt, which is held across five securitization trusts, a process complicated by rising interest rates and a challenging equity market since 2022.
- Despite a 3% to 3.5% decline in same-store sales last year, the company demonstrated growth in its pipeline by selling 200 new stores and opening 70-something new stores, with plans for 100 additional openings this year.
Jan 13, 2026, 2:30 PM
FAT Brands Discusses Growth Strategies, Debt Restructuring, and Performance at ICR Conference 2026
FAT
M&A
New Projects/Investments
Debt Issuance
- FAT Brands, which owns 18 restaurant brands, reported that its manufacturing business generates $15 million of EBITDA annually and operates at 45% capacity.
- The company's growth strategy includes co-branded units, which are expected to yield 10%-20% higher revenues, and the sale of over 213 incremental franchise units in 2025.
- FAT Brands spun out Twin Peaks into a separate publicly traded company, retaining 95% ownership, and is converting Smoky Bones locations into Twin Peaks, with converted units seeing a double in sales.
- The company is actively engaged in complex discussions to restructure its $1.3 billion in non-recourse debt, which is secured by different brands across five securitization trusts.
- Despite a "cautious consumer" and a 3%-3.5% decline in same-store sales last year, FAT Brands opened over 70 new stores and plans to open approximately 100 more this year, projecting $60 million or more of free cash flow or EBITDA.
Jan 13, 2026, 2:30 PM
FAT Brands Discusses Debt Restructuring and Business Performance
FAT
Debt Issuance
M&A
New Projects/Investments
- FAT Brands is actively working to restructure its $1.3 billion non-recourse debt, which is held at the brand level across five securitization trusts and involves complex negotiations with approximately 25 investors, with discussions ongoing for 18-24 months.
- The company's manufacturing operation is a strong asset, generating $15 million in annual EBITDA and currently utilizing 45% of its capacity, indicating significant growth potential.
- Despite the ongoing debt discussions, the core business shows resilience, with same-store sales down 3-3.5% last year, 200 new units sold in 2025, and a plan to open 100 new stores in the current year.
- FAT Brands spun out Twin Peaks into a separate publicly traded company, while retaining 95% ownership, as a strategy to raise equity and reduce debt, given unfavorable private market valuations.
Jan 13, 2026, 2:30 PM
FAT Brands Inc. Announces Executive Retention Bonuses and Salary Increases
FAT
Executive Compensation
Legal Proceedings
- On December 31, 2025, FAT Brands Inc. entered into agreements with CFO Kenneth Kuick, COO Thayer Wiederhorn, and CDO Taylor Wiederhorn regarding their compensation.
- The company paid retention bonuses of $500,000 to Kenneth Kuick, $550,000 to Thayer Wiederhorn, and $550,000 to Taylor Wiederhorn on January 2, 2026, after they waived their unpaid fiscal year 2024 bonuses.
- Effective January 1, 2026, these executive officers also received a base salary increase from $550,000 to $950,000.
- The retention bonuses and salary increases are subject to repayment if the executives voluntarily terminate employment or are terminated for cause before June 30, 2026, or an earlier "Emergence Date" related to potential Chapter 11 proceedings.
Jan 7, 2026, 9:53 PM
FAT Brands Inc. Faces Debt Acceleration and Director Resignation
FAT
Legal Proceedings
Board Change
- FAT Brands Inc. received an Acceleration Notice on November 25, 2025, from UMB Bank, National Association, declaring the $158.9 million outstanding principal and approximately $9.9 million in accrued interest on its FB Resid Notes immediately due and payable.
- The company's subsidiary, FB Resid, does not currently have the funds to cover these obligations, which could materially and adversely affect the company's financial condition and potentially result in a bankruptcy proceeding.
- The FB Resid Notes are secured by 44,638,745 shares of Class A Common Stock of Twin Hospitality Group Inc., representing approximately 22.5% of its voting control, which the trustee may now direct the sale or disposition of.
- On the same day, James Ellis resigned as a director of FAT Brands Inc. and its subsidiary Twin Hospitality Group Inc., effective immediately, citing personal reasons.
Dec 2, 2025, 9:35 PM
FAT Brands Inc. receives acceleration notices on securitization notes
FAT
Debt Issuance
Legal Proceedings
- FAT Brands Inc. received Acceleration Notices on November 17, 2025, from UMB Bank, National Association, concerning Securitization Notes issued by four of its special purpose financing subsidiaries.
- The notices declare the $1,256.5 million aggregate principal amount (or $1,153.6 million net of retained notes) and approximately $43.2 million in accrued and unpaid interest under the Accelerated Notes immediately due and payable.
- The Company and its Securitization Issuers do not currently possess the funds to pay these amounts.
- This acceleration, or any subsequent foreclosure, may materially and adversely affect the Company's business, financial condition, and liquidity, and could lead to the Company and/or its subsidiaries seeking to reorganize through a bankruptcy proceeding.
Nov 21, 2025, 9:55 PM
FAT Brands Announces Q3 2025 Results
FAT
Earnings
Demand Weakening
New Projects/Investments
- FAT Brands reported total revenue of $140.0 million for Q3 2025, a decrease from $143.4 million in Q3 2024.
- System-Wide Sales for Q3 2025 were $567.5 million, reflecting a 5.5% decline system-wide and a 3.5% decline in same-store sales.
- Adjusted EBITDA for Q3 2025 was $13.1 million, down from $14.1 million in Q3 2024.
- The company opened 13 new stores during Q3 2025.
Nov 5, 2025, 9:30 PM
FAT Brands Reports Q3 2025 Results, Resolves Legal Matters, and Outlines Financial Strengthening Initiatives
FAT
Earnings
Legal Proceedings
Debt Issuance
- FAT Brands reported Q3 2025 total revenues of $140 million, a 2.3% decrease from the prior year, with an adjusted EBITDA of $13.1 million and a net loss attributable to FAT Brands of $58.2 million, or $3.39 per diluted share.
- The company announced the dismissal of all U.S. Department of Justice charges and the resolution of Delaware derivative cases, which included a $10 million insurance payment to the company.
- To strengthen its financial position, FAT Brands is planning a $75-$100 million equity raise at Twin Peaks, maintaining a dividend pause to preserve $35-$40 million annually, implementing over $10 million in SG&A reductions, and actively negotiating debt restructuring.
- Operational highlights include opening 13 new locations in Q3 2025, contributing to 60 year-to-date openings towards a target of 80 for the year, and securing over 190 franchise development agreements for approximately 900 committed locations.
Nov 5, 2025, 9:30 PM
FAT Brands Reports Q3 2025 Financial Results with Revenue Decline and Strategic Balance Sheet Initiatives
FAT
Earnings
Guidance Update
Demand Weakening
- FAT Brands Inc. reported a 2.3% decline in total revenue, reaching $140.0 million for the fiscal third quarter ended September 28, 2025, compared to $143.4 million in the prior year. System-wide sales decreased by 5.5%, and system-wide same-store sales declined by 3.5%.
- The company posted a net loss of $58.2 million, or ($3.39) per diluted share, in Q3 2025, an increase from a net loss of $44.8 million, or ($2.74) per diluted share, in Q3 2024. Adjusted EBITDA for Q3 2025 was $13.1 million, down from $14.1 million in the same period.
- Operationally, FAT Brands opened 13 new stores during Q3 2025, contributing to 60 new restaurants year-to-date, and its casual dining segment achieved 3.9% same-store sales growth.
- To strengthen its balance sheet, the company is maintaining its dividend pause to preserve $35-$40 million in annual cash flow, actively negotiating a debt restructuring, and planning a $75-$100 million equity raise at Twin Hospitality Group Inc. These actions are expected to lead to positive cash flow in upcoming quarters.
Nov 5, 2025, 9:09 PM
FAT Brands Reports Fiscal Third Quarter 2025 Financial Results
FAT
Earnings
Dividends
Demand Weakening
- FAT Brands reported a 2.3% decline in total revenue to $140.0 million for fiscal Q3 2025, compared to $143.4 million in the prior year.
- The company posted a net loss of $58.2 million, or $3.39 per diluted share, for Q3 2025, compared to a net loss of $44.8 million, or $2.74 per diluted share, in Q3 2024.
- FAT Brands recorded negative EBITDA of $7.7 million for the quarter, down from $1.7 million in Q3 2024, and Adjusted EBITDA decreased to $13.1 million from $14.1 million.
- System-wide sales declined by 5.5% and system-wide same-store sales decreased by 3.5%, although the casual dining segment achieved 3.9% same-store sales growth.
- To strengthen its balance sheet, the company is continuing its dividend pause (preserving $35-$40 million in annual cash flow), actively negotiating debt restructuring, and planning a $75-$100 million equity raise at Twin Hospitality Group Inc..
Nov 5, 2025, 9:05 PM
Quarterly earnings call transcripts for Fat Brands.
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