ANNUAL
QUARTERLY
Per the Q3’22 earnings release:
2022 Outlook
The Company acknowledges the challenges many in the industry are facing related to sales trends, labor and food cost pressures, along with elevated economic uncertainty from a consumer perspective. Management’s outlook for the full year 2022 is as follows:.
- Annual revenues of $175-$180 million
- Low single-digit same store sales growth for corporate-owned locations
- 12-13 new BurgerFi brand restaurant openings (3 corporate-owned 9-10 franchises) as well as up to 30 BurgerFi GoPuff ghost kitchen locations
- Adjusted EBITDA of $9-10 million
- Capital expenditures of approximately $2 million
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Editor’s Note:
Articles we have written, over the last eighteen months, regarding Burger Fi can be found by way of the SEARCH function on our Home Page. The reported financials are obviously short term in nature and not necessarily indicative of future expectations.