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]
Twin Hospitality Group Inc-A(TWNP) - 2025 Q3 - Earnings Call Transcript