What was the net income for Hardees in fiscal year 2023?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
| Fiscal 2024 | Fiscal 2023 | |
|---|---|---|
| Revenue: | ||
| Company-operated restaurants | $ 368,842 | $ 356,810 |
| Franchised restaurants and other | 299,954 | 302,674 |
| Advertising funds revenue | 172,032 | 172,854 |
| Total revenue | 840,828 | 832,338 |
| Operating costs and expenses: | ||
| Company-operated restaurants: | ||
| Food and packaging | 97,879 | 99,374 |
| Payroll and other employee |
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
According to Hardees's 2025 Franchise Disclosure Document, the net income for fiscal year 2023 was $27,760. The document also provides the net income for fiscal year 2024, which was $45,129. This represents a significant increase in net income from 2023 to 2024.
In addition to net income, the document also provides figures for other comprehensive loss. In fiscal year 2023, the other comprehensive loss was ($250), while in 2024 it was ($22). The comprehensive income, which takes into account both net income and other comprehensive loss, was $27,510 in 2023 and $45,107 in 2024.
These figures are important for prospective Hardees franchisees as they provide insight into the financial performance of the company. Reviewing these numbers allows potential franchisees to assess the profitability and stability of the Hardees brand. It's also important to consider the factors that may have contributed to the increase in net income from 2023 to 2024, such as changes in revenue, operating costs, or other expenses. A potential franchisee should investigate these changes to determine if they are sustainable and likely to continue in the future.