What was the net income for Christian Brothers Automotive in 2023?
Christian_Brothers_Automotive Franchise · 2025 FDDAnswer from 2025 FDD Document
lders' equity | $ 663,061,823 | $ 576,351,339 |
Consolidated Statements of Income Years Ended December 31, 2023 and 2022
| 2023 | 2022 | |
|---|---|---|
| Revenues | $ 137,196,643 | $ 122,309,502 |
| Operating Costs and Expenses | ||
| Cost of revenues | 42,731,504 | 40,601,283 |
| Selling, general and administrative expenses | 50,507,014 | 41,565,152 |
| Compensation expense associated with ESOP | 10,121,713 | 14,206,798 |
| Total operating costs and expenses | 103,360,231 | 96,373,233 |
| Income from operations | 33,836,412 | 25,936,269 |
| Other Income (Expense) | ||
| Gains on sale-leaseback transactions | 2,044,287 | 920,683 |
| Gains on sale of leased properties | 3,613,496 | 13,994,953 |
| Interest income | 1,234,707 | 859,510 |
| Interest expense | (6,596,136) | (2,497,171) |
| Other income, net | (293,984) | 467,395 |
| Total other income, net | 2,370 | 13,745,370 |
| Net income before state income taxes | 33,838,782 | 39,681,639 |
| State Income Tax Expense | (1,799,431) | (1,535,256) |
| Net income | 32,039,351 | 38,146,383 |
| Less net income attributable to noncontrolling interest | (592,784) | (11, |
Source: Item 23 — RECEIPTS (FDD pages 76–372)
What This Means (2025 FDD)
According to Christian Brothers Automotive's 2025 Franchise Disclosure Document, the net income attributable to Christian Brothers Automotive Corporation in 2023 was $31,446,567. This figure represents the company's profitability after deducting all expenses, including the cost of revenues, selling, general, and administrative expenses, compensation expenses related to the Employee Stock Ownership Plan (ESOP), and state income tax expenses. It also factors in income or loss attributable to noncontrolling interests.
Understanding the net income is crucial for potential franchisees as it provides insight into the financial health and profitability of Christian Brothers Automotive. A strong net income suggests that the company is well-managed and has a sustainable business model. This can give franchisees confidence in the franchisor's ability to support their operations and provide a return on their investment.
Furthermore, the FDD provides comparative figures for 2022 and 2024, allowing prospective franchisees to assess the trend in Christian Brothers Automotive's net income over time. For instance, the net income attributable to Christian Brothers Automotive was $26,289,964 in 2022 and $44,838,119 in 2024. Analyzing these trends can help franchisees make informed decisions about the potential risks and rewards of investing in a Christian Brothers Automotive franchise.