What happened with BTBD today?
No read yet
Uses news and trading volume to explain the day’s move and how it relates to the market.
Stop guessing. Get the call, a three-month target price, the best and worst cases, and a source for every claim.
BT Brands’ revenue comes from sales at the restaurants it owns and operates. Burger Time serves made-to-order burgers and other quick-service food, mainly through drive-through and take-out service, with online ordering and third-party delivery also available. The company also operates Keegan’s Seafood Grille, Pie In The Sky Coffee and Bakery, and Schnitzel Haus. It holds a minority stake in Bagger Dave’s Burger Tavern but does not control that business.
Restaurant demand varies with location and season. Winter weather slows Burger Time sales in the northern states, Pie In The Sky relies heavily on summer business, and the Florida restaurants peak during the winter travel season.
A proposed merger with Aero Velocity Inc. would change the company’s focus to unmanned aerial vehicle manufacturing and related services. The transaction also contemplates moving the restaurant operations into a separate company, BT Group, Inc., through a spin-off. These are plans, not completed changes: the merger and spin-off remain subject to conditions and approvals.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
BT Brands depends on local restaurant traffic and cost control, with added exposure through its 40.7% stake in Bagger Dave’s Burger Tavern, whose equity-method carrying value has already fallen to zero.
Good Times Restaurants serves drive-through burger customers and sit-down burger-bar diners, closely matching BT Brands’ Burger Time business and its Bagger Dave’s investment. Watch sales at Good Times Burgers & Frozen Custard and Bad Daddy’s Burger Bar for clues to demand across those two formats, which share exposure to U.S. burger traffic and food and labor costs.
Restaurant Brands International’s Burger King competes with BT Brands’ Burger Time for customers seeking value-priced, flame-broiled burgers, but RBI mainly collects income from franchise operators rather than diners. Burger King sales are the relevant demand signal, not RBI’s income across all four brands.
Red Robin Gourmet Burgers competes with BT Brands’ burger businesses for diners’ meal spending, particularly its Bagger Dave’s affiliate, through company-operated gourmet-burger restaurants. Sales at Red Robin’s own restaurants offer a comparison for burger dining demand, while food and labor costs are shared pressures.
BT Brands depends on Performance Food Group Company to deliver most of Burger Time’s food, paper, packaging and other supplies, tying this restaurant distributor directly to its costs and ability to keep serving customers. Watch supply pricing and delivery continuity: food and paper alone accounted for 33.3% of BT Brands’ restaurant sales in fiscal 2025.
Ark Restaurants Corp and BT Brands both earn money from diners across portfolios of individual restaurants and fast-food locations, with their Florida businesses sharing exposure to coastal travel and dining demand. Ark’s Florida east-coast restaurant sales offer a regional comparison for BT Brands’ Florida locations, whose revenue peaks during the winter travel season.
Performance Food Group Company earningsPFGC
Performance Food Group Company supplies most of Burger Time’s food and packaging, so its report can show whether conditions at this distributor are adding supply or cost pressure for BT Brands’ restaurants.
Read Performance Food Group’s foodservice distribution results alongside what it says about supply and pricing. Steady distribution demand and margins, with reliable supply, would suggest less pressure on Burger Time; weaker distribution or signs of disruption and rising costs would point to greater risk for BT Brands’ food and packaging costs or ability to keep items in stock. The report shows the distributor’s conditions, not BT Brands’ own prices or deliveries.
Retail Sales MoM (Oct)
Retail sales track how much consumers spend at stores, and stronger spending could bring more customers to BT Brands’ Burger Time, seafood, bakery and German-American restaurants, lifting food and beverage sales.
If retail sales rise, that suggests consumers are spending more, which could support demand and sales at BT Brands’ restaurants; if they fall, weaker spending could pressure restaurant traffic and sales.
Good Times Restaurants Inc. earningsGTIM
Good Times Restaurants’ report will show sales at its drive-through and sit-down burger restaurants, offering a demand check for the kinds of diners and meals that matter to BT Brands’ Burger Time and Bagger Dave’s.
Read sales at Good Times Burgers & Frozen Custard alongside sales at Bad Daddy’s Burger Bar. Strength in both would suggest demand is holding up for drive-through and sit-down burger meals, a supportive signal for BT Brands’ Burger Time and Bagger Dave’s; weakness at both would point to pressure on burger traffic or customer spending that could affect them too. Good Times’ results are a comparison, not a substitute for BT Brands’ own sales.
