What was the net income (loss) for Carl's Jr. SPY Guarantor LLC?
Carls Franchise · 2024 FDDAnswer from 2024 FDD Document
| ,652) | (27,320) | — | — | (61,863) | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Other income (loss), net | 3,589 | 112,499 | 61,153 | 406 | 81,860 | 36,915 | (291,632) | 4,790 | ||
| Income (loss) before income taxes | 118,236 | 66,269 | 61,153 | 82,120 | 41,798 | 36,915 | (291,632) | 114,859 | ||
| Income tax expense | 4,453 | — | — | 1,461 | — | — | — | 5,914 | ||
| Net income (loss) | $ 113,783 $ | 66,269 $ | 61,153 $ | 80,659 $ | 41,798 $ | 36,915 $ | (291,632) $ | 108,945 | ||
THE CKE SECURITIZATION ENTITIES COMBINING CONSOLIDATING STATEMENT OF OPERATIONS (In thousands)
Fiscal 2023
| Carl's Jr. Restaurants LLC | Carl's Jr. Funding LLC | Carl's Jr. SPV Guarantor LLC | Hardee's Restaurants LLC | Hardee's Funding LLC | Hardee's SPV Guarantor LLC | Eliminations | The CKE Securitization Entities | |
|---|---|---|---|---|---|---|---|---|
| Revenue: | ||||||||
| Company-operated restaurants | $ 111,433 $ | — $ | — $ | 242,820 $ | — $ | — $ | — $ | 354,253 |
| Franchised restaurants and other | 168,244 | 5,579 | — | 122,587 | 11,835 | — | (17,414) | 290,831 |
| Total revenue | 279,677 | 5,579 | — | 365,407 | 11,835 | — | (17,414) | 645,084 |
| Operating costs and expenses: | ||||||||
| Company-operated restaurants: | ||||||||
| Food and packaging | 28,226 | — | — | 70,215 | — | — | — | 98,441 |
| Payroll and other employee benefits | 32,897 | — | — | 80,466 | — | — | — | 113,363 |
| Occupancy and other | 35,240 | — | — | 82,317 | — | — | (17,414) | 100,143 |
| Total company-operated restaurants | 96,363 | — | — | 232,998 | — | — | (17,414) | 311,947 |
| Franchised restaurants and other | 66,917 | — | — | 24,089 | — | — | — | 91,006 |
| Advertising | 6,774 | — | — | 12,502 | — | — | — | 19,276 |
| General and administrative | 6,694 | 23,462 | 1 | (724) | 26,515 | — | — | 55,948 |
| Facility action charges, net | 526 | — | — | 3,063 | — | — | — | 3,589 |
| Total operating costs and expenses | 177,274 | 23,462 | 1 | 271,928 | 26,515 | — | (1 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 79–80)
What This Means (2024 FDD)
According to the 2024 FDD, Carl's Jr. SPY Guarantor LLC had a net income of $60,644. This figure represents the company's profit after all expenses, including income taxes, have been deducted from its total revenue. This information is crucial for prospective franchisees as it provides insight into the financial performance of one of Carl's related entities.
It's important to note that this net income pertains specifically to Carl's Jr. SPY Guarantor LLC, which may have a different operational structure and revenue streams compared to individual franchised locations. The financial performance of the guarantor entity does not directly reflect the potential profitability of a franchised restaurant. However, it can offer a broader understanding of the financial health and stability of the Carl's organization.
Prospective franchisees should consider this figure in conjunction with other financial data provided in the FDD, such as revenue, expenses, and operating income, to gain a comprehensive view of Carl's financial landscape. Additionally, it is advisable to consult with financial advisors and conduct thorough due diligence to assess the potential risks and rewards associated with investing in a Carl's franchise.