Operating Performance Improves; Market Volatility Increased Investment Portfolio

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Postmedia has not reviewed the content. by GlobeNewswire Operating Performance Improves; Market Volatility Increased Investment PortfolioAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.PARK CITY, Utah, Aug. 18, 2026 (GLOBE NEWSWIRE) — BT Brands, Inc. (Nasdaq: BTBD, BTBDW) (“BT Brands” or the “Company”) today reported financial results for the twenty-six and thirteen weeks ended June 28, 2026.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountBT Brands delivered improved operating performance during the second quarter of fiscal 2026, notwithstanding softness in restaurant sales, and market volatility impacted its investment portfolio in a positive manner.Second Quarter Fiscal 2026 HighlightsRestaurant operating performance continued to advance, driven by lower costs, leaner general and administrative expenses, and tighter operating discipline across all locations.The restaurants produced income from operations of $117,000 compared to a loss of $75,000 in the prior year period.General and administrative expenses decreased by approximately 37% to $334,000 from $531,000 in the prior year period, while food and paper costs decreased to approximately 32% of sales compared to 33% in the prior year period.Restaurant-level EBITDA remained positive at $593,000 despite lower sales volumes.Net sales were $3.6 million compared to $3.8 million in the prior year period, reflecting the closure of an underperforming location during 2025.The Company ended the quarter with approximately $4.4 million in cash and marketable securities and positive working capital of approximately $4.5 million.Management CommentaryGary Copperud, Chief Executive Officer, commented: “Our second quarter results demonstrate continued progress in improving the underlying profitability of our restaurant operations. We achieved meaningful reductions in both operating and administrative costs while maintaining positive restaurant-level EBITDA and improved operating trends. We remain focused on further improving restaurant-level profitability, strengthening cash flow and maintaining balance sheet flexibility, while continuing to evaluate opportunities to enhance long-term stockholder value, including acquisitions, dispositions, investments, strategic partnerships, capital allocation alternatives and other transactions involving both our existing restaurant operations and businesses outside the restaurant industry.”Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againOutlookThe Company is not providing formal financial guidance at this time. Management remains focused on improving restaurant profitability and cash flow, maintaining balance sheet strength, and continuing to evaluate strategic opportunities to enhance long-term shareholder value. The Company intends to continue exploring business combinations or other strategic transactions that may enhance shareholder value.About BT Brands, Inc.BT Brands, Inc. (Nasdaq: BTBD and BTBDW) owns and operates a fast-food restaurant chain called Burger Time in North Dakota, South Dakota, and Minnesota. In addition, the Company owns and operates Pie In The Sky Coffee and Bakery in Woods Hole, Massachusetts, Keegan’s Seafood Grille near Clearwater, Florida, and Schnitzel Haus in Hobe Sound, Florida. The Company also owns a 40.7% interest in Bagger Dave’s Burger Tavern, Inc. (OTCMarkets: BDVB), which owns six and operates five casual dining restaurants in Michigan, Indiana, and Ohio.Cautionary Note Regarding Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will,” and similar references to future periods. Forward-looking statements in this release include statements concerning the Company’s efforts to improve restaurant profitability and cash flow, maintain balance sheet strength, allocate capital and evaluate potential business combinations and other strategic opportunities. Such statements are subject to risks and uncertainties that could cause actual results to differ materially, including changes in consumer demand, food and labor costs, competition, general economic conditions, market volatility and the risks described in the Company’s filings with the Securities and Exchange Commission. The Company is not providing formal financial guidance for fiscal 2026.Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date it is made. We undertake no obligation to publicly update any forward-looking statement, except as required by law.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.FINANCIAL RESULTS FOLLOW:BT BRANDS, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS 26 Weeks Ended 26 Weeks Ended 13 Weeks Ended 13 Weeks Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 SALES$6,394,499 $7,010,763 $3,550,865 $3,779,690 COSTS AND EXPENSES Restaurant operating expenses Food and paper costs 2,095,508 2,449,549 1,132,214 1,249,220 Labor costs 2,369,626 2,592,500 1,256,264 1,374,603 Occupancy costs 647,455 611,715 327,331 302,021 Other operating expenses 456,739 441,105 232,601 253,185 Depreciation and amortization expenses 303,151 301,120 151,575 144,725 General and administrative expenses 669,165 982,091 333,675 531,057 Total costs and expenses 6,541,644 7,378,080 3,433,660 3,854,811 Income (loss) from operations (147,145) (367,317) 117,205 (75,121) UNREALIZED GAIN ON MARKETABLE SECURITIES 399,190 38,104 829,976 82,128 REALIZED INVESTMENT GAIN (LOSS) (143,899) 174,064 (64,649) 79,026 INTEREST AND DIVIDEND INCOME 37,348 80,967 18,233 40,367 INTEREST EXPENSE (37,468) (41,104) (19,032) (19,550)OTHER INCOME (EXPENSE) (257,856) 45,173 (270,994) 18,586 EQUITY IN NET INCOME (LOSS) OF AFFILIATE (24,748) (204,705) (34,306) (70,405)INCOME (LOSS) BEFORE TAXES (174,578) (274,818) 576,433 55,031 INCOME TAX (EXPENSE) BENEFIT – – – – NET INCOME (LOSS)$(174,578) $(274,818) 576,433 55,031 NET INCOME (LOSS) PER COMMON SHARE – Basic$(0.03) $(0.04) 0.09 0.01 NET INCOME (LOSS) PER COMMON SHARE – Diluted$(0.03) $(0.04) 0.09 0.01 WEIGHTED AVERAGE SHARES USED IN COMPUTING PER COMMON SHARE AMOUNTS – Basic 6,164,231 6,154,724 6,173,734 6,154,724 PER COMMON SHARE AMOUNTS – Diluted 6,164,231 6,154,724 6,173,734 6,154,724 BT BRANDS, INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS (Unaudited) June 28, 2026 December 28, 2025 ASSETS CURRENT ASSETS Cash and cash equivalents$1,592,910 $846,167 Marketable securities 2,833,260 3,596,133 Receivables 17,713 54,506 Inventory 230,410 230,443 Inventory – bottled water held for resale 400,000 574,000 Prepaid expenses and other current assets 84,424 22,152 Deferred transaction costs 168,630 150,450 Assets held for sale 424,123 424,123 Total current assets 5,751,470 5,897,974 PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET 2,274,675 2,456,718 OPERATING LEASES RIGHT-OF-USE ASSETS 1,168,036 1,267,699 NOTE RECEIVABLE FROM UNCONSOLIDATED AFFILIATE, NET 152,340 – GOODWILL 796,220 796,220 INTANGIBLE ASSETS, NET 277,137 305,270 OTHER ASSETS, NET 64,587 21,171 Total assets$10,484,465 $10,745,052 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES Accounts payable$274,278 $245,226 Current maturities of long-term debt 199,976 191,531 Current operating lease obligations 404,548 358,939 Accrued expenses 406,360 421,867 Total current liabilities 1,285,162 1,217,563 LONG-TERM DEBT, LESS CURRENT PORTION 1,798,038 1,899,592 NONCURRENT OPERATING LEASE OBLIGATIONS 1,052,996 1,209,509 Total liabilities 4,136,196 4,326,664 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS’ EQUITY Preferred stock, $.001 par value, 2,000,000 shares authorized, no shares outstanding at June 28, 2026 and December 28, 2025 – – Common stock, $.002 par value, 50,000,000 authorized, 6,491,118 and 6,461,118 at June 28, 2026 and December 28, 2025, with 6,184,724 and 6,154,724 outstanding at June 28, 2026 and December 28, 2025 12,369 12,309 Less cost of 306,394 common shares held in Treasury at June 28, 2026 and December 28, 2025 (499,718) (499,718)Additional paid-in capital 12,059,134 11,954,735 Accumulated deficit (5,223,516) (5,048,938) Total shareholders’ equity 6,348,269 6,418,388 Total liabilities and shareholders’ equity$10,484,465 $10,745,052 Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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