LOS ANGELES, Aug. 25, 2025 (GLOBE NEWSWIRE) -- Twin Hospitality Group Inc. (“Twin Hospitality”) (Nasdaq: TWNP), the parent company of Twin Peaks and Smokey Bones, today announces the appointment of Andrew (Andy) Wiederhorn as Chairman of the Board of Directors, effective immediately. FAT Brands Inc. (NASDAQ: FAT) served as the parent company that executed the strategic spin-out of Twin Hospitality Group earlier this year, separating its Twin Peaks and Smokey Bones restaurant brands into Twin Hospitality Gro ...

Award-winning sports lodge continues growth strategy with lower-cost, faster-build Smokey Bones conversions FAYETTEVILLE, N.C., Aug. 21, 2025 (GLOBE NEWSWIRE) -- Twin Hospitality Group Inc. (Nasdaq: TWNP), parent company of Twin Peaks Restaurant, announces that a new Twin Peaks lodge will open in Fayetteville, NC, this fall, marking the brand’s continued expansion in key growth markets. The 8,200-square-foot sports lodge, located at 1891 Skibo Road just steps from the entrance of Cross Creek Mall, will be t ...

Core Points - Twin Peaks Restaurant has launched a nationwide online draft party table reservation system for fantasy football, offering exclusive perks for league commissioners [1][2] - The initiative aims to enhance the fantasy football experience, providing a stylish home base for leagues to draft [2] - Guests at Twin Peaks can win $1,000 in cash during the football season [2] Company Overview - Twin Hospitality Group Inc. operates specialty casual dining restaurant concepts, focusing on redefining the casual dining category with experiential brands [4] - Founded in 2005, Twin Peaks has 114 locations across the U.S. and Mexico, known for its made-from-scratch food and extensive beer selection [5] Promotions and Offers - Reservations can be made until September 4, with perks including a draft kit, food and drink specials, and kickback cards for commissioners and guests [2][7] - The kickback cards provide discounts on future visits, with a $50 card for commissioners and a $5 card for each guest [7]

Twin Hospitality Group (TWNP) Q2 2025 Earnings Call July 30, 2025 05:15 PM ET Speaker0Greetings. Welcome to Twin Hospitality Group Inc. Second Quarter twenty twenty five Conference Call hosted by Chief Executive Officer Kim Vilrayma and Chief Financial Officer Ken Kulik. Also joining today's call is Satbrand Inc. Chairman of the Board, Andy Wiederhorn.At this time, all participants have been placed in a listen only mode. Please note that this conference call is being recorded today, 07/30/2025. After the ma ...

[Executive Summary & Business Overview](index=1&type=section&id=Executive%20Summary%20%26%20Business%20Overview) This section provides an overview of the company's strategic priorities, development pipeline, and core business operations, highlighting leadership commentary and company profile [CEO & CFO Commentary](index=1&type=section&id=CEO%20%26%20CFO%20Commentary) The new CEO, Kim Boerema, outlined six strategic priorities to address short-term pressures and drive long-term value, focusing on operational fundamentals, cost discipline, and menu streamlining. CFO Ken Kuick highlighted the strong development pipeline, including successful conversions from Smokey Bones to Twin Peaks and nearly 100 signed franchise agreements, as key to efficient expansion and attractive returns - CEO Kim Boerema outlined six clear priorities to improve execution and deliver long-term value: focusing on great operations, reducing complexity, sharpening cost discipline, streamlining menu offerings, market-informed pricing, and positioning for dynamic growth[3](index=3&type=chunk) - The development pipeline remains a key asset, with a franchised Twin Peaks lodge opening in Fayetteville, NC by year-end, and two company-owned conversions planned for early 2026. Converted locations deliver significantly higher volumes than as Smokey Bones[4](index=4&type=chunk) - The company has nearly **100 signed franchise agreements** and strong demand from existing partners, indicating confidence in efficient expansion through new builds and conversions[4](index=4&type=chunk) [Company Profile](index=3&type=section&id=Company%20Profile) Twin Hospitality Group Inc. operates and franchises specialty casual dining restaurant concepts, Twin Peaks and Smokey Bones, aiming to redefine the casual dining category with experiential brands. Twin Peaks is an award-winning sports lodge with 114 locations, while Smokey Bones is a full-service, meat-centric restaurant with 51 locations - Twin Hospitality Group Inc. (NASDAQ: TWNP) develops, operates, and franchises specialty casual dining restaurant concepts: Twin Peaks and Smokey Bones[16](index=16&type=chunk) - Twin Peaks, known as the ultimate sports lodge, has **114 locations** across 27 states and Mexico, offering made-from-scratch food, 29-degree draft beer, innovative cocktails, and wall-to-wall televisions for sports[16](index=16&type=chunk) - Smokey Bones is a full-service, meat-centric restaurant brand with **51 locations** across 16 states, specializing in ribs and other slow-smoked, fire-grilled, and seared meats, along with a full bar[16](index=16&type=chunk) [Fiscal Second Quarter 2025 Financial Performance](index=1&type=section&id=Fiscal%20Second%20Quarter%202025%20Financial%20Performance) This section details Twin Hospitality Group's financial results for Q2 2025, including revenue, operating income, net loss, and key margin metrics, highlighting a decline in overall performance [Overall Financial Summary](index=1&type=section&id=Overall%20Financial%20Summary) Twin Hospitality Group reported a 4.1% decrease in total revenue for Q2 2025, primarily due to Smokey Bones closures and lower same-store sales, despite new Twin Peaks lodges. The company shifted from an operating income to a significant operating loss, and net loss more than doubled. Restaurant contribution margin and Adjusted EBITDA also declined | Metric | Q2 2025 (in millions) | Q2 2024 (in millions) | Change (%) | | :-------------------------- | :-------------------- | :-------------------- | :--------- | | Total Revenue | $87.8 | $91.6 | -4.1% | | Twin Peaks System-Wide Sales | +0.3% | N/A | +0.3% | | Twin Peaks Same-Store Sales | -4.4% | N/A | -4.4% | | Loss from Operations | ($11.6) | $1.4 | N/A | | Net Loss | ($20.8) | ($10.7) | +94.4% | | Restaurant Contribution Margin | 11.8% | 13.4% | -1.6 pp | | Adjusted EBITDA | $5.2 | $7.0 | -25.9% | - Total revenue decreased by **$3.7 million**, or **4.1%**, to **$87.8 million** in Q2 2025, driven by Smokey Bones closures and lower same-store sales, partially offset by new Twin Peaks lodges[6](index=6&type=chunk) - The company reported a **loss from operations of $11.6 million** in Q2 2025, a significant decline from an income from operations of $1.4 million in Q2 2024[9](index=9&type=chunk) [Detailed Costs and Expenses](index=1&type=section&id=Detailed%20Costs%20and%20Expenses) Food and beverage costs decreased in absolute terms due to lower sales but remained stable as a percentage of restaurant sales. Labor and benefits costs also decreased in absolute terms but slightly increased as a percentage of restaurant sales due to wage inflation. Other operating costs increased both in absolute terms and as a percentage of restaurant sales | Cost Category | Q2 2025 ($M) | Q2 2025 (% of sales) | Q2 2024 ($M) | Q2 2024 (% of sales) | YoY Change ($M) | YoY Change (% of sales) | | :-------------------- | :----------- | :------------------- | :----------- | :------------------- | :-------------- | :---------------------- | | Food & Beverage Cost | $21.5 | 27.1% | $22.9 | 27.4% | -$1.4 | -0.3 pp | | Labor & Benefits Cost | $25.3 | 31.8% | $26.4 | 31.6% | -$1.1 | +0.2 pp | - Food and beverage cost decreased by **$1.4 million (6.1%)** to **$21.5 million**, primarily due to lower same-store sales, with its percentage of restaurant sales at **27.1%** in 2025 compared to 27.4% in 2024[7](index=7&type=chunk) - Labor and benefits cost decreased by **$1.1 million (4.3%)** to **$25.3 million**, mainly due to lower same-store sales, with its percentage of restaurant sales at **31.8%** in 2025 compared to 31.6% in 2024[8](index=8&type=chunk) [Other Expense, Net](index=3&type=section&id=Other%20Expense%2C%20Net) Other expense, net, primarily consisting of interest expense, slightly decreased to $11.3 million in Q2 2025 from $12.2 million in the prior year period | Metric | Q2 2025 (in millions) | Q2 2024 (in millions) | YoY Change ($M) | | :---------------- | :-------------------- | :-------------------- | :-------------- | | Other Expense, Net | $11.3 | $12.2 | -$0.9 | - Other expense, net, was **$11.3 million** in Q2 2025, down from **$12.2 million** in Q2 2024, primarily consisting of interest expense in both periods[10](index=10&type=chunk) [Financial Statements & Reconciliations](index=5&type=section&id=Financial%20Statements%20%26%20Reconciliations) This section presents the consolidated statements of operations and reconciliations for non-GAAP measures, providing a comprehensive view of the company's financial performance and adjustments [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) The Consolidated Statements of Operations provide a detailed breakdown of revenues, costs, and expenses, culminating in the net loss for the thirteen and twenty-six weeks ended June 29, 2025, and June 30, 2024. It shows a significant increase in net loss and a shift from operating income to loss in the current fiscal periods | (in thousands) | Thirteen Weeks Ended June 29, 2025 | Thirteen Weeks Ended June 30, 2024 | Twenty-Six Weeks Ended June 29, 2025 | Twenty-Six Weeks Ended June 30, 2024 | | :-------------------------------- | :--------------------------------- | :--------------------------------- | :----------------------------------- | :----------------------------------- | | Restaurant sales | $79,625 | $83,706 | $158,028 | $166,995 | | Franchise revenue | $8,221 | $7,888 | $16,923 | $16,660 | | **Total revenue** | **$87,846** | **$91,594** | **$174,951** | **$183,655** | | Total costs and expenses | $99,435 | $90,200 | $187,596 | $180,927 | | Income (loss) from operations | ($11,589) | $1,394 | ($12,645) | $2,728 | | Total other expense, net | ($11,314) | ($12,225) | ($22,105) | ($22,701) | | Loss before income tax provision | ($22,903) | ($10,831) | ($34,750) | ($19,973) | | Income tax provision | ($2,119) | ($99) | ($1,854) | ($20) | | **Net loss** | **($20,784)** | **($10,732)** | **($32,896)** | **($19,953)** | [EBITDA and Adjusted EBITDA Reconciliation](index=6&type=section&id=EBITDA%20and%20Adjusted%20EBITDA%20Reconciliation) This section provides a reconciliation of net loss to EBITDA and Adjusted EBITDA for the thirteen and twenty-six weeks ended June 29, 2025, and June 30, 2024. It shows a negative EBITDA for Q2 2025, which becomes positive Adjusted EBITDA after adding back equity-based compensation | (in thousands) | Thirteen Weeks Ended June 29, 2025 | Thirteen Weeks Ended June 30, 2024 | Twenty-Six Weeks Ended June 29, 2025 | Twenty-Six Weeks Ended June 30, 2024 | | :-------------------------- | :--------------------------------- | :--------------------------------- | :----------------------------------- | :----------------------------------- | | Net loss | ($20,784) | ($10,732) | ($32,896) | ($19,953) | | Interest expense, net | $11,456 | $12,004 | $22,278 | $22,412 | | Income tax provision | ($2,119) | ($99) | ($1,854) | ($20) | | Depreciation and amortization | $4,072 | $5,841 | $10,166 | $11,587 | | **EBITDA** | **($7,375)** | **$7,014** | **($2,306)** | **$14,026** | | Equity based compensation | $12,552 | — | $12,552 | $202 | | **Adjusted EBITDA** | **$5,177** | **$7,014** | **$10,246** | **$14,228** | [Restaurant-Level Contribution and Margin Reconciliation](index=7&type=section&id=Restaurant-Level%20Contribution%20and%20Margin%20Reconciliation) This reconciliation details the calculation of Restaurant-Level Contribution and Restaurant-Level Contribution Margin, showing a decrease in both metrics for the current fiscal periods compared to the prior year, reflecting operational pressures | (in thousands) | Thirteen Weeks Ended June 29, 2025 | Thirteen Weeks Ended June 30, 2024 | Twenty-Six Weeks Ended June 29, 2025 | Twenty-Six Weeks Ended June 30, 2024 | | :-------------------------------- | :--------------------------------- | :--------------------------------- | :----------------------------------- | :----------------------------------- | | Income (loss) from operations | ($11,589) | $1,394 | ($12,645) | $2,728 | | Less: Royalties and franchise fees | ($5,259) | ($5,211) | ($10,516) | ($10,207) | | Plus: General and administrative expense | $19,894 | $6,902 | $26,708 | $13,894 | | Company-owned restaurant advertising expense | $2,094 | $2,217 | $3,728 | $4,299 | | Depreciation and amortization | $4,072 | $5,841 | $10,166 | $11,587 | | Pre-opening expense | $178 | $64 | $695 | $92 | | **Restaurant-level contribution** | **$9,390** | **$11,207** | **$18,136** | **$22,393** | | Company-owned restaurant sales | $79,625 | $83,706 | $158,028 | $166,995 | | **Restaurant-Level Contribution Margin** | **11.8%** | **13.4%** | **11.5%** | **13.4%** | [Non-GAAP Financial Measures](index=3&type=section&id=Non-GAAP%20Financial%20Measures) This section provides definitions and explanations for the non-GAAP financial measures used by Twin Hospitality Group, clarifying their purpose and limitations for financial analysis [Definitions of Non-GAAP Measures](index=3&type=section&id=Definitions%20of%20Non-GAAP%20Measures) This section defines the non-GAAP financial measures used by Twin Hospitality Group, including EBITDA, Adjusted EBITDA, Restaurant-Level Contribution, and Restaurant-Level Contribution Margin. It clarifies their calculation, purpose for investors and analysts, and acknowledges their limitations as alternatives to GAAP measures - EBITDA is defined as earnings before interest, taxes, and depreciation and amortization, used to evaluate operating performance by eliminating non-business performance expenses[19](index=19&type=chunk) - Adjusted EBITDA is EBITDA excluding expenses related to acquisitions, refranchising losses, impairment charges, and certain non-recurring or non-cash items not indicative of core operations[20](index=20&type=chunk) - Restaurant-Level Contribution represents company-owned restaurant sales less restaurant operating costs, with Restaurant-Level Contribution Margin being this contribution as a percentage of company-owned restaurant sales, used to evaluate restaurant-level productivity and performance[21](index=21&type=chunk) [Key Financial Definitions](index=3&type=section&id=Key%20Financial%20Definitions) This section outlines the definitions for critical operational metrics used in the financial report, providing clarity on how performance is measured and reported [Operational Metrics Definitions](index=3&type=section&id=Operational%20Metrics%20Definitions) This section provides definitions for key operational metrics used in the financial report, including new store openings, same-store sales growth, and system-wide sales growth, clarifying how these metrics are calculated and their impact on results - New store openings reflect the number of stores opened during a reporting period, impacting results based on total number and timing[11](index=11&type=chunk) - Same-store sales growth reflects the year-over-year change for comparable stores open in the Twin Hospitality Group system for at least eighteen months, with adjustments for temporary closures[12](index=12&type=chunk) - System-wide sales growth reflects the percentage change in sales for all stores in any given fiscal period compared to the prior fiscal period[13](index=13&type=chunk) [Additional Information](index=3&type=section&id=Additional%20Information) This section includes important supplementary information such as forward-looking statements, details for the conference call and webcast, and contact information for investor and media relations [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This section includes a standard disclaimer regarding forward-looking statements, emphasizing that they are subject to significant business, economic, and competitive risks and uncertainties that could cause actual results to differ materially from expectations. The company undertakes no obligation to update these statements - The press release contains forward-looking statements regarding future financial and operating results, new store openings, expense reductions, and the development pipeline[17](index=17&type=chunk) - Forward-looking statements are subject to significant business, economic, and competitive risks, uncertainties, and contingencies that could cause actual results to differ materially[17](index=17&type=chunk) - The company undertakes no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of the press release[17](index=17&type=chunk) [Conference Call & Webcast](index=3&type=section&id=Conference%20Call%20%26%20Webcast) Twin Hospitality Group Inc. will host a conference call and webcast on July 30, 2025, at 5:15 PM ET to discuss its fiscal second quarter 2025 financial results, with CEO Kim Boerema and CFO Ken Kuick presenting. Details for live access and replay are provided - Twin Hospitality Group Inc. hosted a conference call and webcast on **July 30, 2025, at 5:15 PM ET** to discuss fiscal second quarter 2025 financial results[14](index=14&type=chunk) - The call featured **Kim Boerema (CEO and President)** and **Ken Kuick (CFO)**[14](index=14&type=chunk) - Access details for the live call were 1-877-407-0792 (U.S.) or 1-201-689-8263 (international), with a replay available until August 13, 2025, and webcast archived at www.twinpeaksrestaurant.com[15](index=15&type=chunk) [Investor & Media Contacts](index=4&type=section&id=Investor%20%26%20Media%20Contacts) Contact information for investor relations and media inquiries is provided, with specific contacts for each department - Investor Relations contact: **Michelle Michalski** at ir@twinpeaksrestaurant.com[23](index=23&type=chunk) - Media Relations contact: **Destinee Rollins** at destinee.rollins@tprest.com or 972-342-5902[23](index=23&type=chunk)

Core Viewpoint - Twin Hospitality Group Inc. reported a decrease in total revenue for the fiscal second quarter of 2025, attributed to the closure of underperforming locations and lower same-store sales, while emphasizing a focused strategy for growth and operational improvement [2][6]. Financial Performance - Total revenue decreased by $3.7 million, or 4.1%, to $87.8 million compared to $91.6 million in the same period of 2024 [6][9]. - Loss from operations was $11.6 million, a decline from an income of $1.4 million in the previous year [9]. - Net loss increased to $20.8 million from $10.7 million year-over-year [9]. Cost Management - Food and beverage costs decreased by $1.4 million, or 6.1%, to $21.5 million, representing 27.1% of restaurant sales in 2025, compared to 27.4% in 2024 [7][9]. - Labor and benefits costs decreased by $1.1 million, or 4.3%, to $25.3 million, accounting for 31.8% of restaurant sales in 2025, compared to 31.6% in 2024 [8][9]. Operational Strategy - The company is focused on six priorities to enhance operations, including reducing complexity, improving cost discipline, and streamlining menu offerings [2]. - The development pipeline includes plans for new franchised locations, with a notable conversion from Smokey Bones to Twin Peaks expected to yield higher sales volumes [3]. Key Metrics - Twin Peaks same-store sales declined by 4.4%, while system-wide sales increased by 0.3% [9]. - Adjusted EBITDA for the quarter was $5.2 million, down from $7.0 million in the previous year [9][26].

Group 1 - Twin Hospitality Group Inc. will host a conference call to review its second quarter 2025 financial results on July 30, 2025 at 5:15 PM ET [1] - A press release with the financial results will be issued prior to the conference call [1] - The conference call will be accessible via phone and will also be webcast live from the corporate website [2][3] Group 2 - Twin Hospitality Group Inc. operates the Twin Peaks and Smokey Bones restaurant brands, focusing on redefining the casual dining category [4] - Twin Peaks has 114 locations across 27 states and Mexico, known for its made-from-scratch food and sports bar atmosphere [4] - Smokey Bones operates 51 locations across 16 states, specializing in meat-centric dishes and a full bar [4]

Company Overview - Twin Hospitality Group Inc. is a restaurant company that focuses on developing and operating specialty casual dining concepts aimed at redefining the casual dining category through experiential brands [3] - Founded in 2005, Twin Peaks has expanded to 116 locations across the U.S. and Mexico, offering a sports lodge experience with made-from-scratch food and a wide selection of beers [4] Upcoming Event - Twin Hospitality will present at Noble Capital Markets' Emerging Growth Virtual Equity Conference on June 4, 2025, at 4:00 PM Eastern Standard Time, with 1x1 meetings available for registered investors [1] - Attendees can register for the event at no cost, and a video webcast will be available on the company's website and Channelchek following the event, archived for 90 days [2] Industry Context - Noble Capital Markets, established in 1984, is a full-service investment bank that provides middle market expertise and has raised billions for companies, publishing over 45,000 equity research reports [5] - Channelchek, launched in 2018 by Noble, is an investor community dedicated to public emerging growth companies, offering free institutional-quality research and featuring over 7,000 listed companies [6]

Core Insights - Twin Hospitality Group Inc. has appointed Kim Boerema as the new Chief Executive Officer to drive the growth of Twin Peaks Restaurant [1][4] - Boerema has over 30 years of experience in the restaurant industry, with a proven track record in scaling operations and enhancing profitability [2][4] - The company aims to expand its brand with a pipeline of 100 new lodges, leveraging Boerema's expertise in franchising and corporate operations [4] Company Overview - Twin Hospitality Group Inc. operates specialty casual dining restaurant concepts, focusing on redefining the casual dining category through experiential brands [5] - Twin Peaks, founded in 2005, currently has 116 locations across the U.S. and Mexico, known for its sports lodge theme and made-from-scratch food [6] Leadership Background - Kim Boerema previously served as President and COO of Parry's Pizzeria & Taphouse, where he expanded the brand from 10 to approximately 30 units in two and a half years [2] - His past roles include CEO of Iron Hill Brewery and COO of California Pizza Kitchen, where he developed a cost-effective restaurant prototype and improved operations [2][4] - Boerema also held the position of Regional Vice President at Texas Roadhouse, overseeing 125 units across 22 states [2]

Financial Data and Key Metrics Changes - System-wide sales increased by 5.1% to $146.2 million, driven by new company-owned restaurants [8] - Total revenue decreased by 5.4% to $87.1 million compared to $92.1 million in the prior year [18] - Net loss for the quarter was $12.1 million, compared to a loss of $9.2 million in the previous year [25] Business Line Data and Key Metrics Changes - Twin Peaks revenue increased by 5.9% to $51 million, while Smoky Bones revenue decreased by 17.8% to $36.1 million [19] - Same store sales for Twin Peaks decreased by 1.5%, with a 2.7% decline at company-owned locations and a 1% decline at franchise locations [9] - Restaurant level contribution margin for Twin Peaks decreased to 16.9% from 17.4% in the prior year [23] Market Data and Key Metrics Changes - Franchise revenue remained steady at $8.7 million, offsetting declines in same store sales [20] - Alcohol sales comprised nearly 50% of restaurant revenue, significantly higher than typical casual dining competitors [12] Company Strategy and Development Direction - The company plans to open three to four new units in 2025, with a robust development pipeline of 100 franchise agreements [7][11] - A strategic barbell pricing approach is being utilized to cater to various customer segments while maintaining value [13] - The company is focusing on major sporting events for marketing, enhancing customer engagement through promotions [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges from weather and macroeconomic factors impacting same store sales [9] - The company is optimistic about upcoming promotional calendars and major sporting events to drive traffic [9][15] - Management expressed confidence in achieving full annual equity target raise despite current market volatility [25][26] Other Important Information - Twin Peaks was awarded the Black Box Intelligence 2025 Voice of the Customer Award, highlighting strong brand loyalty and customer experience [16][17] - The company is undergoing a strategic conversion of Smoky Bones locations into Twin Peaks lodges, which is expected to enhance performance [19] Summary of Q&A Session - No questions were taken following the prepared remarks, and the call concluded without a Q&A session [3][27]