Thu, Aug 15, 4:00 PM (152 days ago)
BT Brands, Inc. reported a net loss of $515,652 for the quarter ending June 30, 2024, compared to a loss of $375,520 in the same period last year, reflecting ongoing challenges in the restaurant industry. Revenue increased slightly to $4,110,639, driven by improved sales at Burger Time and the recent acquisition of Schnitzel Haus. However, operating expenses rose significantly, with labor costs climbing to 37.7% of sales due to a tight labor market and increased wage pressures. The company’s total liabilities decreased slightly, while cash and cash equivalents fell to $3.7 million. The firm continues to face uncertainties, including inflationary pressures on food costs and competition for labor, which may hinder future profitability. Cash flow from operations was negative $326,369, impacted by seasonal trading patterns and rising maintenance costs. Despite these challenges, BT Brands is exploring further acquisitions to diversify its operations. Overall, while sales performance showed some improvement, the company’s financial health remains under pressure, necessitating close monitoring of operational efficiencies and market conditions.