BurgerFi Reports Preliminary Unaudited Fourth Quarter and Fiscal Year 2023 Results
Restaurant-level operating expenses for the fourth quarter of 2023 were $34.5 million compared to $36.4 million in the fourth quarter of 2022.
- Restaurant-level operating expenses for the fourth quarter of 2023 were $34.5 million compared to $36.4 million in the fourth quarter of 2022.
- For the BurgerFi brand, restaurant-level operating expenses, as a percentage of sales, increased 660 basis points for the fourth quarter of 2023, compared to the fourth quarter of 2022, primarily due to lower leverage on sales.
- During the fourth quarter 2023, there were three franchised BurgerFi openings, five franchised BurgerFi closures and no corporate-owned Anthony's closures.
- The Company will hold a conference call today to discuss its fourth quarter and fiscal year 2023 results.