Nathan's Famous(NASDAQ) NATH

Nathan's Famous, Inc. NASDAQ:NATH sells hot dogs through restaurants and stores. It helps other companies use its name on their products. The business also manages a global network of franchises.

What Nathan's Sells

• Branded Product Program: Bulk hot dog sales to foodservice operators; generated $35,039,000 in revenue, up approximately 20% year over year during the 13 weeks ended June 28, 2026.
• Product Licensing: Royalty agreements for retail goods like packaged meat and frozen fries; earned $13,587,000 in royalties during the 13 weeks ended June 28, 2026.
• Franchise Operations: A system of 223 locations spanning 19 states and 11 foreign countries as of June 28, 2026.
• Company-Owned Restaurants: Direct management of four physical locations, primarily in the New York City area.

Moving Toward a Merger

• Entered into a merger agreement with Smithfield Foods on Jan. 20, 2026.
• Anticipated completing the sale to Smithfield Foods in the second half of 2026, which would make Nathan's a private company.
• Secured a $60 million term loan on July 10, 2024, to refinance existing corporate debt.
• Implemented price increases at company-owned restaurants to offset rising labor and commodity costs during early 2026.

The Strength of the Brand

The company utilizes a licensing model that generates royalty income from third-party sales in supermarkets and grocery stores. This strategy leverages its long-standing name to reach customers through diverse distribution channels without the high costs of physical expansion.

Key Financial Data

• Total revenues reached $54,062,000 for the 13 weeks ended June 28, 2026, up approximately 15% year over year.
• Cost of sales rose to $35,205,000 during the 13 weeks ended June 28, 2026, up approximately 24% year over year.
• Adjusted EBITDA, a non-GAAP measure, was $13.6 million for the 13 weeks ended June 28, 2026.
• Net income was $8,829,000 during the 13 weeks ended June 28, 2026.
• Cash and cash equivalents aggregated $24.7 million as of June 28, 2026.

Bottom Line

Nathan's has transformed from a local eatery into a diverse licensing and food marketing entity. Its broad distribution through supermarkets and foodservice partners maintains its brand relevance across the United States and international markets.