What was the net income for Hardees in fiscal year 2024?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
| Loss | Total Equity | |||||
|---|---|---|---|---|---|---|
| Balance as of January 31, 2023 | 100 | $ | $ 734,314 | $ (540,277) | $ (1,135) | $192,902 |
| Share-based compensation | _ | 2,124 | _ | _ | 2,124 | |
| Other comprehensive loss | _ | _ | (22) | (22) | ||
| Net Income | 45,129 | 45,129 | ||||
| Balance as of January 31, 2024 | 100 | _ | 736,438 | (495,148) | (1,157) | 240,133 |
| Share-based compensation | _ | 444 | _ | _ | 444 | |
| Other comprehensive income | _ | _ | _ | 1,102 | 1,102 | |
| Other loss | 88 | _ | 88 | |||
| Cash dividends to CKE Holding Corporation | _ | _ | _ | (90,000) | _ | (90,000) |
| Net income | _ | _ | 20,791 | _ | 20,791 | |
| Balance as of January 31, 2025 | 100 | $ | $ 736,970 | $ (564,357) | $ (55) | $172,558 |
CKE RESTAURANTS HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands)
| Fiscal 2025 | Fiscal 2024 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income | $ 20,791 | $ 45,129 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 52,776 | 51,372 |
| Amortization of deferred financing costs | 3,499 | 3,417 |
| Loss on early extinguishment of Series 2018-1 Class A-2-II Notes | 1,283 | _ |
| Share-based compensation | 444 | 2,124 |
| Gain on early termination of lease agreement associated with a financing method sale-leaseback restaurant property | (1,386) | _ |
| Gain on refranchising transaction | _ | (153) |
| Gain on disposal of other property and equipment. | (2,635) | (602) |
| Deferred income taxes | (11,869) | (3,738) |
| Provision for losses on impairments, accounts receivable and other items, net | 11,625 | 508 |
| Net changes in operating assets and liabilities: | ||
| Receivables, inventories, prepaid expenses and other current and non-current assets | (15,444) | (14,140) |
| Estimated liability for self-insurance | (1,009) | (1,253) |
| Accounts payable and other current and long-term liabilities | (2,264) | 7,604 |
| Operating lease asset and liabilities, net | (241) | 581 |
| Net cash provided by operating activities. | 90,849 | |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (36,620) | (35,514) |
| Acquisitions of restaurants, net of cash received | (3,019) | |
| Proceeds from refranchising transactions | _ | 2,092 |
| Proceeds from sale of other property and equipment | 8,128 | 2,346 |
| Other investing activities | 219 | (7,346) |
| Net cash used in investing activities | (28,384) | (41,441) |
| Cash flows from financing activities: | ||
| Net change in book overdraft | (298) | (1,472) |
| Repayments of Class A- |
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 2024 was $45,129. This figure is part of the cash flow statement, which provides an overview of the company's financial performance over the past two fiscal years. The document provides detailed financial statements that follow GAAP (accounting principles generally accepted in the United States). The fiscal year ended January 29, 2024, is referred to as fiscal 2024 or the fiscal year ended January 31, 2024.
Understanding the net income is crucial for prospective franchisees as it reflects the overall profitability of Hardees. A higher net income generally indicates a more financially stable and successful franchise system. Franchisees can use this information to assess the financial health of the company and its ability to support its franchisees.
It's important to note that while the net income provides a snapshot of Hardees's financial performance, it should be analyzed in conjunction with other financial metrics and industry trends. Factors such as inflationary pressures, commodity price increases, and international conflicts can impact the company's profitability, as noted in the FDD. Therefore, prospective franchisees should conduct thorough due diligence and consult with financial advisors to make informed decisions.