Good Times Restaurants Q3 profit rises despite lower revenue
GTIM•Outlook
- Company expects Q4 profitability to improve year-over-year due to cost management and Good Times sales
- Good Times same store sales have turned positive, a trend continuing into the fourth quarter
- Company is testing value-oriented promotions at Bad Daddy’s to address ongoing sales headwinds
Overview
- US restaurant operator's fiscal Q3 revenue fell 5% yr/yr
- Adjusted EBITDA for fiscal Q3 rose yr/yr
- Company says improved profitability driven by cost management and Good Times sales
Key Details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q3 Revenue | $35.2 mln | ||
| Q3 Net Income Attributable To Common Shareholders | $1.91 mln | ||
| Q3 Adjusted EBITDA | $2.5 mln |
Result Drivers
- $2 Bambino campaign - Co said systemwide launch of $2 Bambino offer in June lifted same store sales at Good Times
- Bad Daddy's sales pressure - Co said Bad Daddy's Burger Bar continued to see sales headwinds and is testing value promotions to address traffic declines
