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Fat Brands ( (FAT) ) has issued an announcement.
FAT Brands Inc. reported a significant increase in third-quarter revenue for 2024, driven by strategic expansions and new restaurant openings. The company, which now boasts 2,300 locations globally, added 22 new units this quarter and plans to reach 100 by year-end. However, despite a 31.1% revenue jump to $143.4 million, the company faced a net loss of $44.8 million, attributed to increased operational costs from acquisitions like Smokey Bones. The leadership remains optimistic, highlighting a robust development pipeline and potential IPO opportunities for its Twin Peaks and Smokey Bones brands.
Find detailed analytics on FAT stock on TipRanks’ Stock Analysis page.