{"id":963270,"date":"2026-05-14T18:24:53","date_gmt":"2026-05-14T22:24:53","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/bt-brands-reports-first-quarter-2026-results\/"},"modified":"2026-05-14T18:24:53","modified_gmt":"2026-05-14T22:24:53","slug":"bt-brands-reports-first-quarter-2026-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bt-brands-reports-first-quarter-2026-results\/","title":{"rendered":"BT Brands Reports First Quarter 2026 Results"},"content":{"rendered":"<h2>\nOperating Performance Improves; Company Maintains Strategic Flexibility<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p>MINNETONKA, Minn., May  14, 2026  (GLOBE NEWSWIRE) &#8212; BT Brands, Inc. (Nasdaq: BTBD, BTBDW) (\u201cBT Brands\u201d or the \u201cCompany\u201d) today reported financial results for the thirteen weeks ended March 29, 2026.<\/p>\n<p>BT Brands delivered improved operating performance during the first quarter of fiscal 2026, notwithstanding softness in restaurant sales and market volatility affecting its investment portfolio. The Company also announced that, following the termination of its merger agreement with Aero Velocity Inc., it continues to preserve strategic flexibility while evaluating opportunities to enhance shareholder value.<\/p>\n<p>\n        <strong>First Quarter Fiscal 2026 Highlights<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>Restaurant operating performance continued to advance, driven by lower labor costs, leaner general and administrative expenses, and tighter operating discipline across all locations.<\/li>\n<li>During the seasonally weak first quarter, the loss from operations improved to a loss of $232,811 compared to a loss of $292,196 in the prior year period.<\/li>\n<li>General and administrative expenses decreased by approximately 22.4% to $348,901 from $451,034 in the prior year period, while food and paper costs improved to 33.9% of sales compared to 37.1% in the prior year period.<\/li>\n<li>Restaurant-level EBITDA remained positive at $267,665 despite lower sales volumes.<\/li>\n<li>Net sales were $2.84 million compared to $3.23 million in the prior year period, reflecting the closure of an underperforming location during 2025.<\/li>\n<li>The Company ended the quarter with approximately $3.6 million in cash and marketable securities and positive working capital of approximately $3.9 million.<\/li>\n<li style=\"margin-bottom:10pt\">Subsequent to quarter end, the Company terminated the previously announced merger agreement and continues to evaluate opportunities to enhance shareholder value.<\/li>\n<\/ul>\n<p>\n        <strong>Management Commentary<\/strong><br \/>\n        <br \/>Gary Copperud, Chief Executive Officer, commented: \u201cOur first quarter results clearly demonstrate continued progress in improving the underlying profitability of our restaurant operations, despite this historically being our slowest seasonal quarter. We achieved meaningful reductions in both operating and administrative costs while maintaining positive restaurant-level EBITDA and improved operating trends. Importantly, our operating performance improved even as reported earnings were impacted by non-cash unrealized investment losses resulting from broader market volatility.\u201d<\/p>\n<p>Kenneth Brimmer, Chief Financial Officer, added: \u201cWe ended the quarter with a strong liquidity position, including approximately $3.6 million in cash and marketable securities and positive net working capital of approximately $3.9 million. As we enter our seasonally stronger operating periods, we believe the Company is well positioned to continue improving cash flow and operating performance.\u201d<\/p>\n<p>\n        <strong>Merger Termination<\/strong><br \/>\n        <br \/>On May 1, 2026, the Company terminated the previously announced merger agreement with Aero Velocity Inc. after certain closing conditions were not satisfied within the contractual deadline. The Company believes the termination was valid and effective and does not expect any material financial obligations associated with the termination.<\/p>\n<p>On May 4, 2026, counsel for Aero delivered a letter disputing the termination. The Company disagrees with Aero\u2019s position and intends to vigorously defend its rights under the merger agreement.<\/p>\n<p>Additional information is contained in the Company\u2019s Current Report on Form 8-K filed with the SEC on May 7, 2026.<\/p>\n<p>\n        <strong>Outlook<\/strong><br \/>\n        <br \/>The Company is not providing formal financial guidance at this time. Management remains focused on improving restaurant profitability and cash flow, maintaining balance sheet strength, and continuing to evaluate strategic opportunities to enhance long-term shareholder value. The Company intends to continue exploring business combinations or other strategic transactions that may enhance shareholder value.<\/p>\n<p>Financial Results<\/p>\n<p>\n        <strong>BT Brands, Inc.<\/strong><br \/>\n        <br \/>\n        <strong>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)<\/strong><br \/>\n        <br \/>\n        <strong>(In dollars)<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"6\" style=\"text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>13 Weeks ended,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>March 29, 2026<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>March 30, 2025<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>NET SALES<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>$<\/strong><br \/>\n            <strong>2,843,634<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>$<\/strong><br \/>\n            <strong>3,231,073<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:66%;width:66%;min-width:66%;vertical-align: bottom\">Food and paper costs<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">963,763<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,200,329<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Labor costs<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,110,584<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,217,897<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Occupancy costs<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">304,023<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">309,694<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Other operating expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">197,599<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">187,920<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Depreciation and amortization<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">151,575<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">156,395<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">General and administrative<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">348,901<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">451,034<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>Total costs and expenses<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>3,076,445<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>3,523,269<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>LOSS FROM OPERATIONS<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(232,811<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>(292,196<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Unrealized loss on marketable securities<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(435,615)<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(44,024)<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Realized investment gain (loss)<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(79,395)<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">95,038<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Interest expense<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(21,440)<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(21,554)<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Interest and dividend income<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">21,234<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">40,600<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Other income (expense)<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(12,542)<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">26,587<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Equity in net income (loss) of affiliate<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">9,558<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(134,300)<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>NET LOSS<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>$<\/strong><br \/>\n            <strong>(751,011<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>$<\/strong><br \/>\n            <strong>(329,849<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>NET LOSS PER SHARE \u2013 Basic and Diluted<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>$<\/strong><br \/>\n            <strong>(0.12<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>$<\/strong><br \/>\n            <strong>(0.05<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>WEIGHTED AVERAGE SHARES OUTSTANDING<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>6,154,791<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">\n            <strong>6,154,791<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <br \/>BT Brands, Inc.<br \/><\/strong><br \/>\n        <strong>CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)<\/strong><br \/>\n        <br \/>\n        <strong>(In dollars)<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>March 29, 2026 (unaudited)<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>December 28, 2025 (audited)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Cash and cash equivalents<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">$1,014,989<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">$846,167<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:68%;width:68%;min-width:68%;vertical-align: top\">Marketable securities<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">2,629,120<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">3,596,133<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Total current assets<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">5,239,820<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">5,897,974<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Property, equipment and leasehold improvements, net<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">2,359,322<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">2,456,718<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Operating lease right-of-use assets<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,218,169<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,267,699<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Goodwill<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">796,220<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">796,220<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Intangible assets, net<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">291,204<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">305,270<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>Total assets<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>$<\/strong><br \/>\n            <strong>9,978,880<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>$<\/strong><br \/>\n            <strong>10,745,052<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>Total liabilities<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>4,295,128<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>4,326,664<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>Total shareholders&#8217; equity<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>5,683,752<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>6,418,388<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <br \/>Non-GAAP Financial Measure \u2014 Restaurant-Level EBITDA<\/strong><br \/>\n        <br \/>Restaurant-level EBITDA is a non-GAAP financial measure. The Company defines restaurant-level EBITDA as loss from operations before general and administrative expenses, depreciation and amortization, and impairment charges.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>13 Weeks Ended March 29, 2026<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>13 Weeks Ended March 30, 2025<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Revenues<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>$<\/strong><br \/>\n            <strong>2,843,634<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>$<\/strong><br \/>\n            <strong>3,231,073<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:66%;width:66%;min-width:66%;vertical-align: bottom\">\n            <strong>Loss from operations<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(232,811<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(292,196<\/strong><br \/>\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Depreciation and amortization<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">151,575<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">156,395<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">General and administrative<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">348,901<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">451,034<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Restaurant-level EBITDA<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>$<\/strong><br \/>\n            <strong>267,665<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>$<\/strong><br \/>\n            <strong>315,233<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Restaurant-level EBITDA margin<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>9.4<\/strong><br \/>\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>9.7<\/strong><br \/>\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p>This press release contains &#8220;forward-looking statements&#8221; within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the Company&#8217;s plans, objectives, future operating performance, strategic alternatives, and efforts to enhance shareholder value. Forward-looking statements are based on management&#8217;s current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including risks related to market conditions, operating performance, capital allocation decisions, the outcome of the Aero Velocity dispute, strategic initiatives, and the risks described in BT Brands&#8217; SEC filings available at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=bO87iSBeetYUCX5AfAQGWoJT7IpSwx_HLggeMYV1LyC3qp_l25opQGOf66rS2rSM4F8bHZePa4S7aWU7Bf-UIw==\" rel=\"nofollow\" target=\"_blank\">www.sec.gov<\/a>. These statements speak only as of the date hereof, and the Company disclaims any obligation to update them except as required by law.<\/p>\n<p>\n        <strong>About BT Brands, Inc.<\/strong>\n      <\/p>\n<p>BT Brands, Inc. (Nasdaq: BTBD and BTBDW) owns and operates nine restaurants, including six Burger Time fast-food locations in the North Central United States, Keegan&#8217;s Seafood Grille in Indian Rocks Beach, Florida, Pie In The Sky Coffee and Bakery in Woods Hole, Massachusetts, and Schnitzel Haus in Hobe Sound, Florida. The Company also holds a 40.7% non-controlling equity interest in Bagger Dave&#8217;s Burger Tavern, Inc., an unconsolidated affiliate operating five restaurant locations.<\/p>\n<p>CONTACT FOR FURTHER INFORMATION:<br \/>Kenneth Brimmer | 612-229-8811 | kbrimmer@itsburgertime.com<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTcyMDgxOCM3NjA0NTg0IzIyNTk1NDc=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/ZDQwMTEyYzItNTIwMS00ZThjLTgwNmUtZWY1ZDBlMzJiNGRkLTEyNzEwOTctMjAyNi0wNS0xNC1lbg==\/tiny\/BT-Brands.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Operating Performance Improves; Company Maintains Strategic Flexibility MINNETONKA, Minn., May 14, 2026 (GLOBE NEWSWIRE) &#8212; BT Brands, Inc. (Nasdaq: BTBD, BTBDW) (\u201cBT Brands\u201d or the \u201cCompany\u201d) today reported financial results for the thirteen weeks ended March 29, 2026. BT Brands delivered improved operating performance during the first quarter of fiscal 2026, notwithstanding softness in restaurant sales and market volatility affecting its investment portfolio. The Company also announced that, following the termination of its merger agreement with Aero Velocity Inc., it continues to preserve strategic flexibility while evaluating opportunities to enhance shareholder value. First Quarter Fiscal 2026 Highlights Restaurant operating performance continued to advance, driven by lower labor costs, leaner general and administrative expenses, and tighter operating discipline across all locations. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bt-brands-reports-first-quarter-2026-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;BT Brands Reports First Quarter 2026 Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-963270","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BT Brands Reports First Quarter 2026 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bt-brands-reports-first-quarter-2026-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BT Brands Reports First Quarter 2026 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Operating Performance Improves; Company Maintains Strategic Flexibility MINNETONKA, Minn., May 14, 2026 (GLOBE NEWSWIRE) &#8212; BT Brands, Inc. (Nasdaq: BTBD, BTBDW) (\u201cBT Brands\u201d or the \u201cCompany\u201d) today reported financial results for the thirteen weeks ended March 29, 2026. BT Brands delivered improved operating performance during the first quarter of fiscal 2026, notwithstanding softness in restaurant sales and market volatility affecting its investment portfolio. The Company also announced that, following the termination of its merger agreement with Aero Velocity Inc., it continues to preserve strategic flexibility while evaluating opportunities to enhance shareholder value. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/bt-brands-reports-first-quarter-2026-results\/","og_locale":"en_US","og_type":"article","og_title":"BT Brands Reports First Quarter 2026 Results - Market Newsdesk","og_description":"Operating Performance Improves; Company Maintains Strategic Flexibility MINNETONKA, Minn., May 14, 2026 (GLOBE NEWSWIRE) &#8212; BT Brands, Inc. (Nasdaq: BTBD, BTBDW) (\u201cBT Brands\u201d or the \u201cCompany\u201d) today reported financial results for the thirteen weeks ended March 29, 2026. BT Brands delivered improved operating performance during the first quarter of fiscal 2026, notwithstanding softness in restaurant sales and market volatility affecting its investment portfolio. The Company also announced that, following the termination of its merger agreement with Aero Velocity Inc., it continues to preserve strategic flexibility while evaluating opportunities to enhance shareholder value. First Quarter Fiscal 2026 Highlights Restaurant operating performance continued to advance, driven by lower labor costs, leaner general and administrative expenses, and tighter operating discipline across all locations. &hellip; Continue reading \"BT Brands Reports First Quarter 2026 Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/bt-brands-reports-first-quarter-2026-results\/","og_site_name":"Market Newsdesk","article_published_time":"2026-05-14T22:24:53+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTcyMDgxOCM3NjA0NTg0IzIyNTk1NDc=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bt-brands-reports-first-quarter-2026-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bt-brands-reports-first-quarter-2026-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"BT Brands Reports First Quarter 2026 Results","datePublished":"2026-05-14T22:24:53+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bt-brands-reports-first-quarter-2026-results\/"},"wordCount":914,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bt-brands-reports-first-quarter-2026-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTcyMDgxOCM3NjA0NTg0IzIyNTk1NDc=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bt-brands-reports-first-quarter-2026-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/bt-brands-reports-first-quarter-2026-results\/","name":"BT Brands Reports First Quarter 2026 Results - 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