Core Insights - Twin Hospitality Group Inc. has entered into a letter of intent to acquire eight Twin Peaks franchised restaurants in Florida for approximately $47 million in cash, aiming to strengthen its balance sheet through enhanced EBITDA generation [1][2]. Financial Impact - The acquisition is expected to contribute approximately $76-$77 million in annual revenue and an additional $9-$10 million in annual EBITDA, which will help reduce leverage and enhance financial flexibility [2][3]. Strategic Rationale - The CEO of Twin Hospitality Group expressed satisfaction in acquiring high-performing franchise locations, highlighting Florida as a key market with strong performance for Twin Peaks [3]. - The Chairman noted that the enhanced cash flow and increased EBITDA from these locations will support deleveraging and enable the company to capitalize on incremental revenue and margin growth [3]. Transaction Details - The transaction is anticipated to close in the first quarter of 2026, pending the completion of a definitive purchase agreement, financing, and customary closing conditions [4].

Core Insights - Twin Hospitality Group Inc. has entered into a letter of intent to acquire eight Twin Peaks franchised restaurants in Florida for approximately $47 million in cash, aiming to strengthen its balance sheet through enhanced EBITDA generation [1][2]. Financial Impact - The acquisition is expected to contribute approximately $76-$77 million in annual revenue and an additional $9-$10 million in annual EBITDA, which will help reduce leverage and enhance financial flexibility [2][3]. Strategic Rationale - The CEO of Twin Hospitality Group expressed satisfaction in acquiring high-performing franchise locations, highlighting Florida as a key market with strong performance for Twin Peaks [3]. - The Chairman noted that the enhanced cash flow and increased EBITDA from these locations will support deleveraging and enable the company to capitalize on incremental revenue and margin growth [3]. Transaction Details - The transaction is anticipated to close in the first quarter of 2026, subject to the completion of a definitive purchase agreement, financing, and customary closing conditions [4].

Financial Data and Key Metrics Changes - Total system-wide sales for the quarter were $170.7 million, a 3.3% decrease from the previous year [13] - Total revenue was $82.3 million, down 1.6% from $83.7 million in the prior year [13] - Net loss for the quarter was $24.5 million, compared to $16.2 million in the previous year [16] - Adjusted EBITDA increased to $3 million, compared to $2.3 million in the prior year [16] Business Line Data and Key Metrics Changes - Twin Peaks revenue was $50.3 million, up 5.3% from $47.8 million in the prior year, driven by new lodge openings [13] - Smokey Bones revenue was $32 million, down 10.8% from $35.9 million in the prior year, reflecting strategic conversions and closures [14] - Twin Peaks restaurant-level contribution margin increased to 17%, up from 16.3% in the previous year [15] - Smokey Bones restaurant-level contribution margin was negative 0.3%, down from positive 0.3% in the previous year [15] Market Data and Key Metrics Changes - Comparable sales for Twin Peaks declined by 4.1%, influenced by immigration-related issues, particularly in the San Antonio market [13] - System-wide weekly sales averaged $11.3 million over the past 12 weeks, indicating steady performance despite challenges [7] Company Strategy and Development Direction - The company is focused on operational excellence, strengthening margins, and positioning for sustained growth [3] - A strategic conversion program is underway to transform Smokey Bones locations into high-performing Twin Peaks lodges [9] - The company has identified 19 prime conversion candidates for transformation into Twin Peaks lodges [10] - A new partnership with Camp Hope supports veterans, enhancing community engagement [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full annual equity target range to support debt reduction and growth investments [17] - The upcoming fourth quarter is expected to benefit from a strong sports calendar, including college football playoffs [17] - Operational improvements and cost discipline initiatives are anticipated to continue driving margin expansion [17] Other Important Information - The company has strengthened its executive team with key appointments and promotions to enhance operational performance [4][5][6] - The closure of underperforming units and improved financial visibility are part of the strategic plan for Smokey Bones [11] Q&A Session Summary - No questions were taken following the prepared remarks, and the call concluded without a Q&A session [2][20]

Core Viewpoint - Twin Hospitality Group Inc. will host a conference call to discuss its third quarter 2025 financial results on November 5, 2025, at 5:15 PM ET [1] Company Overview - Twin Hospitality Group Inc. operates and franchises casual dining restaurant brands, specifically Twin Peaks and Smokey Bones, aiming to redefine the casual dining experience [4] - Twin Peaks has 114 locations across 26 states and Mexico, known for its made-from-scratch food and sports bar atmosphere [4] - Smokey Bones operates 45 locations in 15 states, specializing in meat-centric dishes, particularly ribs and slow-smoked meats [4] Conference Call Details - The conference call can be accessed via phone or webcast, with a replay available until November 19, 2025 [2][3] - Kim Boerema, CEO, and Ken Kuick, CFO, will host the call [2]

Company Overview - Twin Hospitality Group Inc. is the parent company of Twin Peaks Restaurant and Smokey Bones, focusing on redefining the casual dining category with experiential-driven brands [3] - Twin Peaks operates 114 locations across 27 states and Mexico, known for its made-from-scratch food and sports bar atmosphere [3] - Smokey Bones has 45 locations across 15 states, specializing in meat-centric dishes such as ribs and slow-smoked meats [3] Recent Developments - Noble Capital Markets has initiated company-sponsored equity research coverage on Twin Hospitality Group [1] - The full report by Noble Capital Markets Senior Research Analyst, Joe Gomes, is available on Channelchek [1] Corporate History - FAT Brands Inc. executed the strategic spin-out of Twin Hospitality Group earlier this year, separating its restaurant brands into Twin Hospitality Group Inc. [2] Research and Investment - Noble Capital Markets is a full-service investment bank and advisory firm with a strong research team, having published over 45,000 equity research reports [4] - Channelchek, launched by Noble in 2018, provides free institutional-quality research to the public, featuring over 7,000 public emerging growth companies [5]

Core Insights - Twin Hospitality Group Inc. has appointed Melissa Fry as Chief Marketing Officer, bringing over 25 years of marketing experience in the restaurant and hospitality sectors [1][3] - The company is strategically enhancing its executive team to support its growth trajectory, with nearly 100 Twin Peaks units in the development pipeline [2] Company Overview - Twin Hospitality Group Inc. operates and franchises specialty casual dining concepts, including Twin Peaks and Smokey Bones, aiming to redefine the casual dining category [5] - Twin Peaks has 114 locations across 27 states and Mexico, known for its scratch-made food and sports bar atmosphere, while Smokey Bones operates 51 locations specializing in meat-centric dishes [5] Leadership and Strategy - CEO Kim Boerema emphasizes the importance of Fry's experience in experiential dining and her ability to drive traffic and guest engagement [4] - The leadership changes, including the recent appointments of Ken Brendemihl and Lexi Burns, are designed to position the company for ambitious expansion [2] Marketing Initiatives - Fry's previous role at Hooters involved comprehensive marketing strategies that included national media campaigns and digital transformation, which will be leveraged to enhance Twin Hospitality's brand awareness and guest engagement [3] - The company aims to create synergies between Twin Peaks and Smokey Bones while maintaining each brand's unique identity [4]

Core Insights - Twin Hospitality Group Inc. has appointed Andrew Wiederhorn as Chairman of the Board of Directors, effective immediately [1][3] - The company was formed through a strategic spin-out from FAT Brands Inc., which separated the Twin Peaks and Smokey Bones restaurant brands into Twin Hospitality Group [2] - Wiederhorn expressed his commitment to enhancing operations and guest experience while aiming for sustained growth and strong returns for shareholders [3] Company Overview - Twin Hospitality Group Inc. is focused on developing and operating specialty casual dining restaurant concepts, aiming to redefine the casual dining category with experiential-driven brands [4]

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]

Core Insights - Twin Hospitality Group Inc. reported a 5.4% decrease in total revenue for the fiscal first quarter of 2025, amounting to $87.1 million compared to $92.1 million in the same period of 2024, primarily due to lower same-store sales and the closure of one Smokey Bones location during its conversion to a Twin Peaks lodge [6][8] - The company achieved system-wide sales growth of 5% to $146.3 million, driven by new company-owned restaurants, despite industry-wide challenges [3][8] - Twin Peaks continues to focus on high-margin beverage sales, with alcohol accounting for nearly 50% of restaurant revenue [3] Financial Performance - The company experienced a net loss of $12.1 million in Q1 2025, compared to a net loss of $9.2 million in Q1 2024 [8][26] - Adjusted EBITDA decreased to $5.1 million from $7.1 million year-over-year [8][27] - Restaurant contribution margin fell to 11.2% from 13.6% in the previous year, with Twin Peaks at 16.9% and Smokey Bones at 4.4% [8][29] Operational Highlights - Twin Peaks opened two new lodges, including a second Smokey Bones conversion in Brandon, Florida, and a franchised location in Algonquin, Illinois, bringing the total to 116 locations [3][8] - The company plans to open three to four new units this year, with a robust development pipeline consisting of 100 franchise agreements [3][8] - Labor and benefits costs decreased by 5.1% to $25.3 million, while food and beverage costs decreased by 5.2% to $21.2 million [7][9] Marketing and Advertising - Advertising expenses decreased by 14.9% to $5.1 million, primarily due to lower marketing spend for Smokey Bones [10]