PARK CITY, Utah, Aug. 18, 2026 (GLOBE NEWSWIRE) -- BT Brands, Inc. (Nasdaq: BTBD, BTBDW) (“BT Brands” or the “Company”) today reported financial results for the twenty-six and thirteen weeks ended June 28, 2026.

BT Brands delivered improved operating performance during the second quarter of fiscal 2026, notwithstanding softness in restaurant sales, and market volatility impacted its investment portfolio in a positive manner.

Second Quarter Fiscal 2026 Highlights

• Restaurant operating performance continued to advance, driven by lower costs, leaner general and administrative expenses, and tighter operating discipline across all locations.
• The restaurants produced income from operations of $117,000 compared to a loss of $75,000 in the prior year period.
• General and administrative expenses decreased by approximately 37% to $334,000 from $531,000 in the prior year period, while food and paper costs decreased to approximately 32% of sales compared to 33% in the prior year period.
• Restaurant-level EBITDA remained positive at $593,000 despite lower sales volumes.
• Net sales were $3.6 million compared to $3.8 million in the prior year period, reflecting the closure of an underperforming location during 2025.
• The Company ended the quarter with approximately $4.4 million in cash and marketable securities and positive working capital of approximately $4.5 million.

Management Commentary
Gary Copperud, Chief Executive Officer, commented: “Our second quarter results demonstrate continued progress in improving the underlying profitability of our restaurant operations. We achieved meaningful reductions in both operating and administrative costs while maintaining positive restaurant-level EBITDA and improved operating trends. We remain focused on further improving restaurant-level profitability, strengthening cash flow and maintaining balance sheet flexibility, while continuing to evaluate opportunities to enhance long-term stockholder value, including acquisitions, dispositions, investments, strategic partnerships, capital allocation alternatives and other transactions involving both our existing restaurant operations and businesses outside the restaurant industry.”

Outlook
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.

About BT Brands, Inc.
BT Brands, Inc. (Nasdaq: BTBD and BTBDW) owns and operates a fast-food restaurant chain called Burger Time in North Dakota, South Dakota, and Minnesota. In addition, the Company owns and operates Pie In The Sky Coffee and Bakery in Woods Hole, Massachusetts, Keegan’s Seafood Grille near Clearwater, Florida, and Schnitzel Haus in Hobe Sound, Florida. The Company also owns a 40.7% interest in Bagger Dave’s Burger Tavern, Inc. (OTCMarkets: BDVB), which owns six and operates five casual dining restaurants in Michigan, Indiana, and Ohio.

Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will," and similar references to future periods. Forward-looking statements in this release include statements concerning the Company’s efforts to improve restaurant profitability and cash flow, maintain balance sheet strength, allocate capital and evaluate potential business combinations and other strategic opportunities. Such statements are subject to risks and uncertainties that could cause actual results to differ materially, including changes in consumer demand, food and labor costs, competition, general economic conditions, market volatility and the risks described in the Company’s filings with the Securities and Exchange Commission. The Company is not providing formal financial guidance for fiscal 2026.Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date it is made. We undertake no obligation to publicly update any forward-looking statement, except as required by law.

FINANCIAL RESULTS FOLLOW:

BT BRANDS, INC. AND SUBSIDIARIES
CONSOLIDATED  STATEMENTS OF OPERATIONS
	26 Weeks Ended				26 Weeks Ended				13 Weeks Ended				13 Weeks Ended
	June 28, 2026				June 29, 2025				June 28, 2026				June 29, 2025
SALES	$	6,394,499			$	7,010,763			$	3,550,865			$	3,779,690
COSTS AND EXPENSES
Restaurant operating expenses
Food and paper costs		2,095,508				2,449,549				1,132,214				1,249,220
Labor costs		2,369,626				2,592,500				1,256,264				1,374,603
Occupancy costs		647,455				611,715				327,331				302,021
Other operating expenses		456,739				441,105				232,601				253,185
Depreciation and amortization expenses		303,151				301,120				151,575				144,725
General and administrative expenses		669,165				982,091				333,675				531,057
Total costs and expenses		6,541,644				7,378,080				3,433,660				3,854,811
Income (loss) from operations		(147,145	)			(367,317	)			117,205				(75,121	)
UNREALIZED GAIN ON MARKETABLE SECURITIES		399,190				38,104				829,976				82,128
REALIZED INVESTMENT GAIN (LOSS)		(143,899	)			174,064				(64,649	)			79,026
INTEREST AND DIVIDEND INCOME		37,348				80,967				18,233				40,367
INTEREST EXPENSE		(37,468	)			(41,104	)			(19,032	)			(19,550	)
OTHER INCOME (EXPENSE)		(257,856	)			45,173				(270,994	)			18,586
EQUITY IN NET INCOME (LOSS) OF AFFILIATE		(24,748	)			(204,705	)			(34,306	)			(70,405	)
INCOME (LOSS) BEFORE TAXES		(174,578	)			(274,818	)			576,433				55,031
INCOME TAX (EXPENSE) BENEFIT		-				-				-				-
NET INCOME (LOSS)	$	(174,578	)		$	(274,818	)			576,433				55,031
NET INCOME (LOSS) PER COMMON SHARE - Basic	$	(0.03	)		$	(0.04	)			0.09				0.01
NET INCOME (LOSS) PER COMMON SHARE - Diluted	$	(0.03	)		$	(0.04	)			0.09				0.01
WEIGHTED AVERAGE SHARES USED IN COMPUTING
PER COMMON SHARE AMOUNTS - Basic		6,164,231				6,154,724				6,173,734				6,154,724
PER COMMON SHARE AMOUNTS - Diluted		6,164,231				6,154,724				6,173,734				6,154,724

BT BRANDS, INC. AND SUBSIDIARIES
CONSOLIDATED  BALANCE SHEETS
	(Unaudited)
	June 28, 2026				December 28, 2025
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	1,592,910			$	846,167
Marketable securities		2,833,260				3,596,133
Receivables		17,713				54,506
Inventory		230,410				230,443
Inventory - bottled water held for resale		400,000				574,000
Prepaid expenses and other current assets		84,424				22,152
Deferred transaction costs		168,630				150,450
Assets held for sale		424,123				424,123
Total current assets		5,751,470				5,897,974
PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET		2,274,675				2,456,718
OPERATING LEASES RIGHT-OF-USE ASSETS		1,168,036				1,267,699
NOTE RECEIVABLE FROM UNCONSOLIDATED AFFILIATE, NET		152,340				-
GOODWILL		796,220				796,220
INTANGIBLE ASSETS, NET		277,137				305,270
OTHER ASSETS, NET		64,587				21,171
Total assets	$	10,484,465			$	10,745,052
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable	$	274,278			$	245,226
Current maturities of long-term debt		199,976				191,531
Current operating lease obligations		404,548				358,939
Accrued expenses		406,360				421,867
Total current liabilities		1,285,162				1,217,563
LONG-TERM DEBT, LESS CURRENT PORTION		1,798,038				1,899,592
NONCURRENT OPERATING LEASE OBLIGATIONS		1,052,996				1,209,509
Total liabilities		4,136,196				4,326,664
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY
Preferred stock, $.001 par value, 2,000,000 shares authorized, no shares outstanding at June 28, 2026 and December 28, 2025		-				-
Common stock, $.002 par value, 50,000,000 authorized, 6,491,118 and 6,461,118 at June 28, 2026 and December 28, 2025, with 6,184,724 and 6,154,724 outstanding at June 28, 2026 and December 28, 2025		12,369				12,309
Less cost of 306,394 common shares held in Treasury at June 28, 2026 and December 28, 2025		(499,718	)			(499,718	)
Additional paid-in capital		12,059,134				11,954,735
Accumulated deficit		(5,223,516	)			(5,048,938	)
Total shareholders' equity		6,348,269				6,418,388
Total liabilities and shareholders' equity	$	10,484,465			$	10,745,052

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