BurgerFi International, Inc. (NASDAQ:BFI) Q3 2023 Earnings Call Transcript

Carl Bachmann: Yeah. We have — I think the thing we did when we first started here is we realigned our operational team. In BurgerFi, the corporate side is broken into three regions. And those three regions, there’s some diversion between the three. But the first leader that we put in place has had the most time in place and we’re seeing positive comps in his region. So, I think that’s a big part of that securing operations. So there is, for sure, this bifurcation, if you will, of stores that are high performers as well as stores that are not. But I think a lot of it was about solidifying our operational leadership team. And since we’ve done that, well, a couple of things have happened. Our throughput has gotten better. Our ticket times have gotten better.

Our turnover is significantly better, both hourly and management. So, really that piece of operational focus has helped us, and that’s really kind of created that bifurcation. And then, kind of early into the third quarter, we then added some more strength to our operational team. And now we’re starting to see positive green shoots, if you will, in those two markets as well. So, I think that’s probably the separation as opposed to a regional separation, if that makes sense.

Mike Albanese: Yeah, it does. Thank you very much. That’s helpful. That’s it from my end, guys. Thank you very much.

Carl Bachmann: Thank you.

Operator: And ladies and gentlemen, with that, we’ll be concluding today’s question-and-answer session. I’d like to turn the floor back over to Carl Bachmann for any closing remarks.

Carl Bachmann: Thank you. I just want to say thank you for your time and questions. Chris and myself and the entire team are really excited about our new direction and our recent momentum. I look forward to sharing our continued improvements on our next call as we progress on this journey. Have a great day. Thank you.

Operator: Ladies and gentlemen, with that, we’ll conclude today’s conference call and presentation. We thank you for joining. You may now disconnect your lines.