NATH

JERICHO, N.Y., Aug. 07, 2026 (GLOBE NEWSWIRE) -- Nathan's Famous, Inc. (“Nathan’s”, the “Company”, “we”, “us” or “our”) (NASDAQ:NATH) today reported results for its first fiscal quarter ended June 28, 2026. For the thirteen-week period ended June 28, 2026 (“first quarter fiscal 2027”): Revenues were $54,062,000 as compared to $46,998,000 during the thirteen weeks ended June 29, 2025; Income from operations was $12,668,000 as compared to $12,791,000 during the thirteen weeks ended June 29, 2025; Adjusted EBITDA1, a non-GAAP financial measure, was $13,615,000 as compared to $13,531,000 during the thirteen weeks ended June 29, 2025; Income before provision for income taxes was $12,163,000 as compared to $12,257,000 during the thirteen weeks ended June 29, 2025; Net income was $8,829,000 as compared to $8,928,000 during the thirteen weeks ended June 29, 2025; and Earnings per diluted share was $2.14 per share as compared to $2.16 per share during the thirteen weeks ended June 29, 2025. The Company also reported the following: License royalties increased to $13,587,000 during the first quarter fiscal 2027 as compared to $12,381,000 during the thirteen weeks ended June 29, 2025. During the first quarter fiscal 2027, royalties earned under the retail agreement, including the foodservice program, from Smithfield Foods, Inc., increased 10% to $12,617,000 as compared to $11,464,000 of royalties earned during the thirteen weeks ended June 29, 2025. In the Branded Product Program, which features the sale of Nathan’s hot dogs to the foodservice industry, sales increased by $5,964,000 to $35,039,000 during the first quarter fiscal 2027 as compared to $29,075,000 during the thirteen weeks ended June 29, 2025. The volume of hot dogs sold by the Company increased by approximately 8%. Our average selling price, which is partially correlated to the beef markets, increased by approximately 17% as compared to the prior year period. Income from operations decreased by $946,000 to $1,330,000 during the first quarter fiscal 2027 as compared to $2,276,000 for the thirteen weeks ended June 29, 2025, due primarily to a 22% increase in the cost of beef and beef trimmings. Sales from Company-owned restaurants were $3,951,000 during the first quarter fiscal 2027 as compared to $3,986,000 during the thirteen weeks ended June 29, 2025. Sales were primarily impacted by a 1% decline in average check. Revenues from franchise operations were $1,074,000 during the first quarter fiscal 2027 as compared to $1,129,000 during the thirteen weeks ended June 29, 2025. Total royalties were $1,020,000 in the first quarter fiscal 2027 as compared to $1,001,000 during the thirteen weeks ended June 29, 2025. Franchise restaurant sales decreased by $240,000 to $18,204,000 as compared to $18,444,000 for the thirteen weeks ended June 29, 2025.2 Total franchise fee income, including cancellation fees, was $54,000 during the first quarter fiscal 2027 as compared to $128,000 during the thirteen weeks ended June 29, 2025. Four franchised locations opened during the first quarter fiscal 2027. During the first quarter fiscal 2027, the Company recorded Advertising Fund revenue and expense in the amount of $411,000 as compared to $427,000 during the thirteen weeks ended June 29, 2025. On June 30, 2026, the Company paid the $0.50 per share regular cash dividend that was declared by the Board of Directors on June 9, 2026 to shareholders of record at the close of business on June 22, 2026. As previously announced, on January 20, 2026, Nathan’s entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Smithfield Foods, Inc. (“Smithfield Foods”) and Boardwalk Merger Sub Inc. under which Smithfield Foods will acquire Nathan’s for $102.00 in cash per share of Nathan’s common stock for a total enterprise value of approximately $450 million, and Nathan’s will become a privately-held company. Completion of the transaction remains contingent upon meeting several conditions specified in the Merger Agreement which include securing approval from the holders of a majority of Nathan’s outstanding stock, obtaining clearance from the Committee on Foreign Investment in the United States (CFIUS), and fulfilling other closing requirements. We expect the transaction to close in the second half of 2026. Certain Non-GAAP Financial Information: In addition to disclosing results that are determined in accordance with Generally Accepted Accounting Principles in the United States of America ("US GAAP"), the Company is disclosing EBITDA, a non-GAAP financial measure which is defined as net income, excluding (i) interest expense; (ii) provision for income taxes and (iii) depreciation and amortization expense. The Company is also disclosing Adjusted EBITDA, a non-GAAP financial measure which is defined as EBITDA, excluding (i) non-recurring transaction costs consisting primarily of professional fees incurred in connection with the Merger Agreement, and (ii) share-based compensation that the Company believes will impact the comparability of its results of operations. The Company believes that EBITDA and Adjusted EBITDA are useful to investors to assist in assessing and understanding the Company's operating performance and underlying trends in the Company's business because EBITDA and Adjusted EBITDA are (i) among the measures used by management in evaluating performance and (ii) are frequently used by securities analysts, investors and other interested parties as a common performance measure. EBITDA and Adjusted EBITDA are not recognized terms under US GAAP and should not be viewed as alternatives to net income or other measures of financial performance or liquidity in conformity with US GAAP. Additionally, our definitions of EBITDA and Adjusted EBITDA may differ from other companies. Analysis of results and outlook on a non-US GAAP basis should be used as a complement to, and in conjunction with, data presented in accordance with US GAAP. Please see the table at the end of this press release for a reconciliation of EBITDA and Adjusted EBITDA to net income. About Nathan’s Famous Nathan’s is a Russell 2000 Company that currently distributes its products in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, and twenty foreign countries through its restaurant system, foodservice sales programs and product licensing activities. For additional information about Nathan’s please visit our website at www.nathansfamous.com. ________________ 1 EBITDA and Adjusted EBITDA are non-GAAP financial measures. Please see the definitions of EBITDA and Adjusted EBITDA on page 2 of this release and the reconciliation of EBITDA and Adjusted EBITDA to net income in the table at the end of this release.2 Franchise restaurant sales are not revenues of the Company and are not included in the Company’s Condensed Consolidated Financial Statements. Except for historical information contained in this news release, the matters discussed are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risks and uncertainties. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, and similar expressions identify forward-looking statements, which are based on the current belief of the Company’s management, as well as assumptions made by and information currently available to the Company’s management. Among the factors that could cause actual results to differ materially include but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement or the failure to satisfy the closing conditions; the possibility that the consummation of the proposed transaction is delayed or does not occur, including the failure of Nathan’s stockholders to approve the proposed transaction; uncertainty as to whether the parties will be able to complete the proposed transaction on the terms set forth in the Merger Agreement; uncertainty regarding the timing of the receipt of required regulatory approvals for the proposed transaction and the possibility that the parties may be required to accept conditions that could reduce or eliminate the anticipated benefits of the proposed transaction as a condition to obtaining regulatory approvals or that the required regulatory approvals might not be obtained at all; the outcome of any legal proceedings that have been or may be instituted against the parties or others following announcement of the transactions contemplated by the Merger Agreement; challenges, disruptions or costs of integrating and achieving anticipated synergies, or that such synergies will take longer to realize than expected, risks that the proposed transaction and other transactions contemplated by the Merger Agreement disrupt current plans and operations that may harm Nathan’s businesses; the amounts of any costs, fees, expenses, impairments and charges related to the proposed transaction, and uncertainty as to the effects of the announcement or pendency of the proposed transaction on the market price of Nathan’s common stock and/or on its financial performance; the impact of disease epidemics such as the COVID-19 pandemic; increases in the cost of food and paper products; the impact of price increases on customer visits; the status of our licensing and supply agreements, including our licensing revenue and overall profitability being substantially dependent on our agreement with Smithfield Foods; the impact of our debt service and repayment obligations under our credit facility, including the effect on our ability to fund working capital, operations and make new investments; economic (including inflationary pressures like those currently being experienced); weather (including the impact on sales at our restaurants particularly during the summer months), and change in the price of beef trimmings; our ability to pass on the cost of any price increases in beef and beef trimmings; legislative and business conditions; potential changes in U.S. income tax or tariff policies; the collectability of receivables; changes in consumer tastes; the continued viability of Coney Island as a destination location for visitors; the ability to attract franchisees; the impact of the minimum wage legislation on labor costs in New York State or other changes in labor laws, including regulations which could render a franchisor as a “joint employer” or the impact of our union contracts; our ability to attract competent restaurant and managerial personnel; the enforceability of international franchising agreements; the future effects of any food borne illness, such as bovine spongiform encephalopathy, BSE and e coli; and the risk factors reported from time to time in the Company’s SEC reports. The Company does not undertake any obligation to update such forward-looking statements. COMPANY CONTACT:Robert Steinberg, Vice President - Finance and CFO(516) 338-8500 ext. 229 Select Segment Information (a) Excludes interest expense, interest and dividend income, and other income, net.(b) Excludes interest expense, interest and dividend income and other income, net which are managed centrally at the corporate level, and, accordingly, such items are not presented by segment since they are excluded from the measure of profitability reviewed by the Chief Operating Decision Maker.(c) Consists principally of administrative expenses not allocated to the operating segments such as executive management, finance, information technology, legal, insurance, corporate office costs, incentive compensation, share-based compensation, compliance costs, transaction costs contemplated by the Merger Agreement, and the operating results of the Advertising Fund. Nathan's Famous, Inc. and Subsidiaries Reconciliation of Net Income to EBITDA and Adjusted EBITDA (unaudited) _____________________3 Consists principally of legal costs incurred in connection with the transaction contemplated by the Merger Agreement.

Declares Quarterly Cash Dividend Of $0.50 Per Share JERICHO, N.Y., June 09, 2026 (GLOBE NEWSWIRE) -- Nathan's Famous, Inc. (“Nathan’s”, the “Company”, “we”, “us” or “our”) (NASDAQ:NATH) today reported results for its fiscal year and fourth quarter ended March 29, 2026. Effective June 9, 2026, as permitted under the Merger Agreement (as defined below) the Board of Directors declared its quarterly cash dividend for fiscal 2027 of $0.50 per share, which is payable on June 30, 2026 to shareholders of record at the close of business on June 22, 2026. For the fiscal year ended March 29, 2026: Revenues were $162,063,000 for the fifty-two weeks ended March 29, 2026 (“fiscal 2026”) as compared to $148,182,000 for the fifty-two weeks ended March 30, 2025 (“fiscal 2025”); Income from operations was $30,102,000 for fiscal 2026 as compared to $36,497,000 for fiscal 2025; Adjusted EBITDA1 for fiscal 2026, a non-GAAP financial measure, was $36,314,000 as compared to $39,206,000 for fiscal 2025; Income before provision for income taxes was $28,190,000 for fiscal 2026 as compared to $32,761,000 for fiscal 2025; Net income was $20,020,000 for fiscal 2026 as compared to $24,026,000 for fiscal 2025; and Earnings per diluted share was $4.85 per share for fiscal 2026 as compared to $5.87 per share for fiscal 2025. For the quarter ended March 29, 2026: Revenues were $35,066,000 for the thirteen weeks ended March 29, 2026 (“fourth quarter fiscal 2026”) as compared to $30,787,000 for the thirteen weeks ended March 30, 2025 (“fourth quarter fiscal 2025”); Income from operations was $4,682,000 for the fourth quarter fiscal 2026 as compared to $6,368,000 for the fourth quarter fiscal 2025; Adjusted EBITDA1 for the fourth quarter fiscal 2026, a non-GAAP financial measure, was $7,590,000 as compared to $7,096,000 for the fourth quarter fiscal 2025; Income before provision for income taxes was $4,164,000 for the fourth quarter fiscal 2026 as compared to $5,819,000 for the fourth quarter fiscal 2025; Net income was $2,809,000 for the fourth quarter fiscal 2026 as compared to $4,235,000 for the fourth quarter fiscal 2025; and Earnings per diluted share was $0.68 per share for the fourth quarter fiscal 2026 as compared to $1.03 per share for the fourth quarter fiscal 2025. The Company also reported the following: License royalties were $37,417,000 in fiscal 2026, comparable to the prior year, reflecting the stability of the Company’s licensing business and the steady royalty income earned under the Company’s retail and foodservice program with Smithfield Foods, Inc. In the Branded Product Program, which features the sale of Nathan’s hot dogs to the foodservice industry, sales increased by $13,940,000 to $105,768,000 during fiscal 2026 as compared to $91,828,000 during fiscal 2025. The volume of hot dogs sold by the Company increased by approximately 1%. Our average selling price, which is partially correlated to the beef markets, increased by approximately 12% compared to the prior year period. Income from operations decreased by $2,851,000 to $4,285,000 during fiscal 2026 as compared to $7,136,000 during fiscal 2025 due primarily to a 19% increase in the cost of beef and beef trimmings. Sales from Company-owned restaurants were $12,508,000 during fiscal 2026 as compared to $12,714,000 during fiscal 2025. Restaurant sales were primarily impacted by lower foot traffic attributable to unfavorable weather conditions, particularly at our Coney Island locations during the key summer season. Revenues from franchise operations were $4,317,000 during fiscal 2026 as compared to $4,148,000 during fiscal 2025. Total royalties were $3,897,000 during fiscal 2026 as compared to $3,767,000 during fiscal 2025. Franchise restaurant sales increased by $3,212,000 to $70,117,000 as compared to $66,905,000 for fiscal 2025.2 Total franchise fee income, including cancellation fees, was $420,000 during fiscal 2026 as compared to $381,000 during fiscal 2025. Twenty-three franchised locations opened and thirty-two franchised locations closed during fiscal 2026. Advertising revenue was $2,053,000 during fiscal 2026 as compared to $2,074,000 during fiscal 2025. On February 27, 2026, the Company paid the $0.50 per share regular cash dividend that was declared by the Board of Directors effective February 5, 2026 to shareholders of record at the close of business on February 17, 2026. As previously announced, on January 20, 2026, Nathan's entered into an Agreement and Plan of Merger (the "Merger Agreement") with Smithfield Foods, Inc. ("Smithfield Foods") and Boardwalk Merger Sub Inc. under which Smithfield Foods will acquire Nathan's for $102.00 in cash per share of Nathan's common stock for a total enterprise value of approximately $450 million, and Nathan's will become a privately-held company. Completion of the transaction remains contingent upon meeting several conditions specified in the Merger Agreement. These include securing approval from the holders of a majority of Nathan’s outstanding stock, obtaining clearance from the Committee on Foreign Investment in the United States (CFIUS), and fulfilling other closing requirements. However, given the impact of the partial government shutdown on statutory deadlines for CFIUS’s review process, our anticipated closing timeline has shifted, and we now expect the transaction to close in the second half of 2026. Certain Non-GAAP Financial Information: In addition to disclosing results that are determined in accordance with Generally Accepted Accounting Principles in the United States of America ("US GAAP"), the Company is disclosing EBITDA, a non-GAAP financial measure which is defined as net income, excluding (i) interest expense; (ii) provision for income taxes and (iii) depreciation and amortization expense. The Company is also disclosing Adjusted EBITDA, a non-GAAP financial measure which is defined as EBITDA, excluding (i) loss on debt extinguishment, (ii) share-based compensation, and (iii) non-recurring transaction costs consisting primarily of professional fees incurred in connection with the Merger Agreement that the Company believes will impact the comparability of its results of operations. The Company believes that EBITDA and Adjusted EBITDA are useful to investors to assist in assessing and understanding the Company's operating performance and underlying trends in the Company's business because EBITDA and Adjusted EBITDA are (i) among the measures used by management in evaluating performance and (ii) are frequently used by securities analysts, investors and other interested parties as a common performance measure. EBITDA and Adjusted EBITDA are not recognized terms under US GAAP and should not be viewed as alternatives to net income or other measures of financial performance or liquidity in conformity with US GAAP. Additionally, our definitions of EBITDA and Adjusted EBITDA may differ from other companies. Analysis of results and outlook on a non-US GAAP basis should be used as a complement to, and in conjunction with, data presented in accordance with US GAAP. Please see the table at the end of this press release for a reconciliation of EBITDA and Adjusted EBITDA to net income. About Nathan’s Famous Nathan’s is a Russell 2000 Company that currently distributes its products in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, and twenty foreign countries through its product licensing activities, foodservice sales programs, and restaurant system. For additional information about Nathan’s Famous, please visit our website at www.nathansfamous.com. ____________________________ 1 EBITDA and Adjusted EBITDA are non-GAAP financial measures. Please see the definitions of EBITDA and Adjusted EBITDA on page 2 of this release and the reconciliation of EBITDA and Adjusted EBITDA to net income in the table at the end of this release. 2 Franchise restaurant sales are not revenues of the Company and are not included in the Company’s Consolidated Financial Statements. Except for historical information contained in this news release, the matters discussed are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risks and uncertainties. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, and similar expressions identify forward-looking statements, which are based on the current belief of the Company’s management, as well as assumptions made by and information currently available to the Company’s management. Among the factors that could cause actual results to differ materially include but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement or the failure to satisfy the closing conditions; the possibility that the consummation of the proposed transaction is delayed or does not occur, including the failure of Nathan's stockholders to approve the proposed transaction; uncertainty as to whether the parties will be able to complete the proposed transaction on the terms set forth in the Merger Agreement; uncertainty regarding the timing of the receipt of required regulatory approvals for the proposed transaction and the possibility that the parties may be required to accept conditions that could reduce or eliminate the anticipated benefits of the proposed transaction as a condition to obtaining regulatory approvals or that the required regulatory approvals might not be obtained at all; the outcome of any legal proceedings that have been or may be instituted against the parties or others following announcement of the transactions contemplated by the Merger Agreement; challenges, disruptions and costs of integrating and achieving anticipated synergies, or that such synergies will take longer to realize than expected, risks that the proposed transaction and other transactions contemplated by the Merger Agreement disrupt current plans and operations that may harm Nathan's businesses; the amount of any costs, fees, expenses, impairments and charges related to the proposed transaction, and uncertainty as to the effects of the announcement or pendency of the proposed transaction on the market price of Nathan's common stock and/or on its financial performance; the impact of disease epidemics such as the COVID-19 pandemic; increases in the cost of food and paper products; the impact of price increases on customer visits; the status of our licensing and supply agreements, including our licensing revenue and overall profitability being substantially dependent on our agreement with Smithfield Foods; the impact of our debt service and repayment obligations under our credit facility, including the effect on our ability to fund working capital, operations and make new investments; economic (including inflationary pressures like those currently being experienced); weather (including the impact on sales at our restaurants particularly during the summer months), and changes in the price of beef and beef trimmings; our ability to pass on the cost of any price increases in beef and beef trimmings; legislative and business conditions; potential changes in U.S. income tax or tariff policies; the collectability of receivables; changes in consumer tastes; the continued viability of Coney Island as a destination location for visitors; the ability to attract franchisees; the impact of the minimum wage legislation on labor costs in New York State or other changes in labor laws, including regulations which could render a franchisor as a “joint employer” or the impact of our union contracts; our ability to attract competent restaurant and managerial personnel; the enforceability of international franchising agreements; the future effects of any food borne illness, such as bovine spongiform encephalopathy, BSE and e coli; and the risk factors reported from time to time in the Company’s SEC reports. The Company does not undertake any obligation to update such forward-looking statements. ____________________________3 Consists principally of legal, accounting and advisory costs incurred in connection with the transaction contemplated by the Merger Agreement.

Record Q1: Smithfield reported adjusted operating profit of $339 million and adjusted net income of $251 million (adjusted EPS $0.64), driven by strong Packaged Meats results—Packaged Meats posted $275 million operating profit on $2.1 billion in sales with volume and price gains. Management reaffirmed full-year guidance but warned of sustained input inflation (notably beef, turkey, freight and packaging) and macro uncertainty from the Middle East conflict, and is countering pressures with pricing, productivity, hedging and targeted promotions. Financial position remains solid with $3.7 billion liquidity and net leverage of 0.4x EBITDA; the company continues shareholder returns (quarterly dividend $0.3125; annual target $1.25) and said the Nathan’s Famous acquisition closing is delayed to H2 2026 due to CFIUS timing. Interested in Smithfield Foods, Inc.? Here are five stocks we like better. 3 Quiet Outperformers Boosting Dividends as Markets Retreat Smithfield Foods (NASDAQ:SFD) reported record first-quarter fiscal 2026 results, driven by strength in its Packaged Meats business and continued execution across its vertically integrated model. Management said the company is reaffirming its full-year guidance, while acknowledging ongoing cost inflation and macro uncertainty tied to the Middle East conflict. President and CEO Shane Smith said the company delivered “record first quarter adjusted operating profit of $339 million and adjusted operating profit margin of 8.9%,” attributing the performance to “disciplined execution of our long-term strategies, particularly in Packaged Meats.” → Pipelines and Automation: 2 Energy Plays Built for Any Oil Price Smithfield Foods Roasts Q4 Estimates: Is a $30 Price Handle Near? CFO Mark Hall said consolidated first-quarter sales were $3.8 billion, up 1% year-over-year, and noted results were affected by a $155 million headwind from “non-recurring Hog Production sales to our joint venture partners in the prior year.” Excluding those one-time sales, Hall said consolidated sales increased 5% versus a year ago. On the bottom line, Hall said adjusted net income was a record $251 million, up 11% from $227 million a year earlier, while adjusted diluted EPS increased 10% to $0.64 per share. → Homebuilder Earnings: D.R. Horton Sticks Out as Pulte & NVR Sales Tank The Hot Dog Hedge: Smithfield Acquires Nathan’s Famous By segment, management highlighted: Packaged Meats: Operating profit of $275 million, up 4% year-over-year, on sales of $2.1 billion (up 6%). Volume rose 3.5% and average sales price increased 2.6%, which Hall said reflected “higher raw material market prices and disciplined pricing.” Both Hall and Smith said the earlier Easter holiday boosted volume; excluding seasonal holiday ham sales, Packaged Meats volume was up 1.3%. Fresh Pork: Operating profit of $78 million and a 3.9% margin, down slightly from $82 million and 4% a year ago. Smith and Hall cited lower East Coast production due to temporary winter storm disruptions, and lower gross margin tied to reduced China export volumes year-over-year. Hog Production: Operating profit of $4 million, up from $1 million a year earlier, marking the fifth consecutive quarter of profitability for the segment, according to Smith. Other (Mexico and bioscience): Operating profit of $12 million, down $3 million year-over-year due to softer bioscience results, partially offset by Mexico. Smith said the company is navigating a “challenging external environment,” with the Middle East conflict contributing to volatility that “flows through higher freight, packaging and agricultural input cost.” He said Smithfield is managing through these pressures using “pricing and mix, disciplined spending, productivity initiatives, hedging, and contract and procurement actions.” → Meta Platforms Earnings Preview: What to Watch in Q1 2026 Report In Q&A, Hall said the second quarter comparison for Packaged Meats will be tougher because holiday ham demand was pulled forward into the first quarter. He added that input inflation is running higher than expected, “most notably for Packaged Meats in beef and turkey,” along with “pressure in supply chain costs,” including freight and packaging affected by diesel volatility and resin-based packaging. Packaged Meats President Steve France said raw material costs were higher by $94 million year-over-year in the quarter and that the company is not “assuming a return to historical norms.” France added that Smithfield plans to increase advertising and promotion spending, noting that first-quarter A&P spend was up 23% year-over-year. Smith emphasized Packaged Meats as a key growth engine, with a focus on improving mix by increasing higher-margin, value-added categories while reducing lower-margin commodity products. He cited converting large holiday hams into products like Prime Fresh lunch meat as an example of improving units, usage occasions, and margins. Smith said the company grew units and market share in select higher-margin categories in the quarter, including 9% unit growth in cooked dinner sausage (with 0.8 points of unit share growth) and 10% unit growth in dry sausage (with 1.1 points of unit share growth). France told analysts Smithfield is not trying “to manufacture volume through heavy promotions,” and instead is focused on “quality merchandising” and “quality versus unprofitable quantity.” He said the company saw some competitors push promoted volume through reduced price points, but characterized it as typically short-lived. Smith also highlighted distribution and share gains. He said points of distribution increased 5.5% year-over-year and that packaged lunch meat grew 11.1% in volume while the industry declined 6.5%, driving more than a one-point volume share increase. Smith said Prime Fresh volume increased 26% in the quarter, supported by an 18% increase in points of distribution. Private label also remains a significant part of the portfolio. Smith said roughly 40% of Packaged Meats retail sales are private label, which he described as a way to capture demand if consumers shift away from brands. France said Smithfield’s private label volume was up over 5% in the quarter and that private label participation helps the company retain consumers “as they move up and down that value spectrum.” In Fresh Pork, Smith said the company is focused on maximizing net realizable value and improving efficiency through automation, yield optimization, and supply chain savings, while staying agile in export markets. He said retail-channel sales grew 3% in the quarter, including a 6% increase in value-added, case-ready, and marinated items. North America Pork President Donovan Owens said the company is leaning into value-added offerings in domestic retail and leveraging brand strength alongside Packaged Meats. Owens said first-quarter marinated pork volume was up 3.2% while the industry was down 3.8%, and that case-ready pork volume increased in the high single digits year-over-year. On export dynamics, Owens addressed African swine fever disruption in Europe, calling it “largely thus far an… non-event” for U.S. pork demand, and said Brazil and other regions have been able to fill demand in key markets. Separately, Smith and Hall pointed to lower China export volumes as a year-over-year headwind for first-quarter Fresh Pork margins, with Hall noting tariffs introduced in April 2025 affected the year-over-year comparison. Hall said Smithfield ended the quarter with liquidity of $3.7 billion, including $1.4 billion in cash, and net leverage of 0.4x adjusted EBITDA, which he noted is well below the company’s policy threshold of less than 2x. Operating cash flow was a seasonal outflow of $65 million in the quarter, improved from an outflow of $166 million a year earlier; Hall attributed the change primarily to the earlier Easter. Capital expenditures were $88 million versus $79 million a year ago, and Hall said more than half of planned capital investments this year are aimed at projects expected to drive growth, including plant expansions and automation. Hall also highlighted shareholder returns, stating the company paid a quarterly dividend of $0.3125 per share on April 21 and expects to pay $1.25 per share in annual dividends this year, subject to board discretion. On M&A, Smith said the company entered an agreement in January to acquire the Nathan’s Famous brand, but the expected closing has shifted to the second half of 2026 due to “the impact of the partial government shutdown on statutory deadlines for the CFIUS review process.” Smith said closing the deal would “secure our rights to the brand for the long term.” Looking ahead, management said it expects a solid second quarter and reaffirmed its full-year outlook, while continuing to plan for volatility across key inputs such as energy, freight, packaging, and agricultural costs. Smithfield Foods, Inc (NASDAQ: SFD) is one of the world's largest pork processors and hog producers. Founded in 1936 in Smithfield, Virginia, the company has grown from a regional ham producer into a fully integrated food company offering a broad range of fresh pork, value-added meats and prepared foods. Its product portfolio includes bacon, ham, sausage, ribs and deli meats marketed under well-known brands such as Smithfield®, Nathan's Famous® and Eckrich®. Smithfield operates a network of hog production facilities, processing plants and distribution centers across the United States, Europe and Latin America. The article "Smithfield Foods Q1 Earnings Call Highlights" was originally published by MarketBeat.

Smithfield delivered a record 2025 — adjusted operating profit rose 30% to $1.3 billion, adjusted net income was $1.0 billion with adjusted EPS of $2.55, and the company completed an IPO in January as part of a multi‑year repositioning. Performance was broad‑based: Packaged Meats posted its fourth straight year above $1 billion in operating profit despite $525 million of higher raw‑material costs, Fresh Pork earned $209 million, and Hog Production returned $176 million — its best year since 2014 even after rightsizing production. Management is deploying capital aggressively — agreeing to buy Nathan’s Famous at $102 per share, proposing up to a $1.3 billion Sioux Falls processing investment, and maintaining strong liquidity with a target ~ $1.25 annual dividend in 2026 (net debt/EBITDA ~0.3x). Interested in Smithfield Foods, Inc.? Here are five stocks we like better. The Hot Dog Hedge: Smithfield Acquires Nathan’s Famous Smithfield Foods (NASDAQ:SFD) executives used the company’s fourth-quarter 2025 earnings call to highlight what they described as a “record” year for profit and cash generation, while also laying out a 2026 outlook that assumes continued margin expansion amid a cautious consumer backdrop and a volatile geopolitical environment. President and CEO Shane Smith said 2025 marked “an outstanding year,” citing solid execution that drove record profits, expanded margins, and increased cash flow. Smith noted the company returned to U.S. public markets through an IPO in January, calling the current business a “new Smithfield” after a multiyear transformation that included streamlining the packaged meats portfolio, exiting non-core and high-cost operations, accelerating automation, and reshaping company culture around profitable growth. → Active ETFs Surge Past Passive, and These Are in the Lead A Fresh IPO That Long-Term Investors Shouldn’t Ignore On a consolidated basis, Smith said adjusted operating profit rose 30% to $1.3 billion and adjusted operating margin expanded to 8.6% from 7.2% in 2024. CFO Mark Hall added that sales increased 7% in the fourth quarter and 10% for the full year, driven by higher market prices across the pork value chain and what he described as packaged meats pricing discipline supported by “innovation and brand power.” Hall reported record fourth-quarter adjusted operating profit of $402 million and fourth-quarter adjusted net income from continuing operations attributable to Smithfield of $329 million, which he said was the second highest on record. Full-year adjusted net income was $1.0 billion, while adjusted diluted EPS was $0.83 in the quarter (up from $0.52 in 2024) and $2.55 for the year, a 36% increase from 2024. → Macy’s Beats Expectations Again, But Guidance Spooks Investors Management emphasized broad-based performance across segments. Packaged Meats: Hall said fiscal 2025 sales were $8.8 billion, up 5.3%, driven by a 5.6% increase in average selling price with roughly flat volume. He said the segment delivered profitability despite $525 million in raw material input cost increases and a “challenging consumer spending environment.” Raw material markets cited included bellies up 19%, trim up 19% to 35%, and ham up 9% year over year. CEO Smith said the segment posted its fourth consecutive year of operating profit above $1 billion and its second-highest profit year. Fresh Pork: Smith and Hall pointed to $209 million of adjusted operating profit in 2025, despite what Hall called a $135 million year-over-year decline in the “industry market spread” (the price relationship between hogs and meat). Management credited a diversified channel strategy, operating efficiencies and cost savings, and “next best sale” execution, including growth in U.S. retail and contributions from value-added case-ready items, as well as pet food and pharmaceutical channels. Hall said sales were $8.3 billion, up 6%, primarily from a 5.8% increase in average selling price with roughly flat volume. Hog Production: Hall said adjusted operating profit was $176 million, the highest since 2014, driven by improved commodity markets and operational optimization. Sales rose 13% to $3.4 billion despite a 23% (about 3.4 million head) reduction in hogs produced as part of a rationalization strategy; the company cited higher external sales to new joint venture partners, including sales of grain, feed and services, plus the initial transfer of commercial hog inventories. The average market hog sales price was up 8.9% year over year, inclusive of hedging effects. Smith also announced Donovan Owens was named President of North America Pork, with fresh pork, hog production, and commodity risk management reporting to him. Smith said that under Owens’ leadership, the fresh pork segment’s adjusted operating profit increased to $209 million in 2025 from $30 million in 2022. Owens will also oversee Mexico operations, which management described as integral to North America growth strategy. → Super Micro's Plunge: An AI Deep Value Opportunity? Smithfield highlighted shareholder returns and balance sheet strength. Smith said the company paid $1 per share in dividends in 2025 and announced a quarterly dividend of 31.25 cents per share. Management said it anticipates paying annual dividends of $1.25 per share in 2026. Hall reported year-end net debt to adjusted EBITDA of 0.3x and liquidity of $3.8 billion, including $1.5 billion in cash and cash equivalents. Cash flow from operations was “over $1 billion,” and would have been nearly $1.3 billion when adjusted for repayment of an accounts receivable monetization facility, according to Hall. Capital expenditures were $341 million in 2025, versus $350 million in 2024; Hall said about half of planned annual capital investments are aimed at projects that drive growth, largely through automation and plant improvements to lower cost structure and better utilize labor. On M&A, Smith said the company entered a definitive agreement in January to acquire Nathan’s Famous for $102 per share, describing it as immediately accretive if successfully closed and a way to secure a core national brand and create growth and synergy opportunities. When asked to quantify accretion drivers, management said it was limited in what it could share prior to closing, though Hall noted investors could look to Nathan’s disclosures to understand the licensing fee economics. Packaged Meats President Steve France said Smithfield knows the Nathan’s brand well from years of producing and selling products into retail, and described “virtually no integration risk,” with future opportunities to scale marketing, innovation, and distribution and expand in foodservice. Smith also detailed a large planned investment in South Dakota. The company initiated an approval process to invest up to an estimated $1.3 billion over three years to build a new packaged meats and fresh pork processing facility in Sioux Falls. Management said the 2026 capital spend guidance does not include this project; Hall said the bulk of spending would occur in 2027 and 2028, with some spillover into 2029. Groundbreaking is expected in the first half of 2027, and operations are expected to begin by the end of 2028. Smith said the existing Sioux Falls facility is over 100 years old, making automation difficult, and that the new site would be the company’s largest combined fresh pork and packaged meats facility, expected to provide “significant efficiency gains” and a strong return on investment. Hall guided to low-single-digit sales growth in 2026 versus 2025 and provided segment adjusted operating profit ranges. He noted the revenue outlook includes a 2025 comparison headwind: $230 million of one-time inventory sales to joint ventures that will not repeat (about 150 basis points). Guidance also reflects 53 weeks of operations in 2026 and excludes the proposed Nathan’s Famous acquisition and Sioux Falls investment impacts. Packaged Meats adjusted operating profit: $1.1 billion to $1.2 billion Fresh Pork adjusted operating profit: $200 million to $260 million Hog Production adjusted operating profit: $150 million to $200 million Total company adjusted operating profit: $1.325 billion to $1.475 billion 2026 capital expenditures: $350 million to $450 million Management cited strong protein demand as a tailwind and said pork is positioned as a value option versus beef, while also noting USDA expectations for U.S. pork production to rise 2.5% in 2026. Hall said the company expects raw material costs to remain elevated versus historical standards but be slightly lower than 2025, while monitoring herd health as a key variable. Executives also flagged potential headwinds from cautious consumer spending and a “dynamic geopolitical environment.” Hall said it was too early to predict the full impact from the conflict in Iran, but identified potential effects on fuel costs, corn prices due to oil-market correlations, and petroleum-derived supplies such as resin-based packaging. On operations, Smith said the company is accelerating technology deployment, including a co-sourcing partnership with a third-party provider to apply artificial intelligence and robotic process automation to administrative and transactional finance work. In hog production, management said it is continuing to pursue structural cost improvements and noted that in 2025 the company produced 11.1 million hogs, down from 14.6 million in 2024, reflecting the transfer of 3.8 million hogs to external joint ventures as part of its rightsizing strategy. Over the medium term, Smith said the company continues to target producing about 30% of fresh pork’s needs internally. In the Q&A, France said packaged meats profitability will be supported by continued mix shift toward higher-margin, value-added products, brand investment, and private label participation for consumers trading up and down price tiers. He said profitability is generally balanced between the first and second halves, though Hall noted Easter will fall earlier this year, shifting some impact into Q1, and that packaged meats margins are typically lighter in the first and fourth quarters due to seasonal ham influences. Management also said the 53rd week falls after Christmas and is “a softer week,” with a below-average impact on volume and profitability. Closing the call, Smith thanked employees for execution in 2025 and said the company is “not stopping here,” with management aiming to continue improving operations and growing the business. Smithfield Foods, Inc (NASDAQ: SFD) is one of the world's largest pork processors and hog producers. Founded in 1936 in Smithfield, Virginia, the company has grown from a regional ham producer into a fully integrated food company offering a broad range of fresh pork, value-added meats and prepared foods. Its product portfolio includes bacon, ham, sausage, ribs and deli meats marketed under well-known brands such as Smithfield®, Nathan's Famous® and Eckrich®. Smithfield operates a network of hog production facilities, processing plants and distribution centers across the United States, Europe and Latin America. The article "Smithfield Foods Q4 Earnings Call Highlights" was originally published by MarketBeat.

Declares Quarterly Cash Dividend Of $0.50 Per Share JERICHO, N.Y., Feb. 05, 2026 (GLOBE NEWSWIRE) -- Nathan's Famous, Inc. (“Nathan’s”, the “Company”, “we”, “us” or “our”) (NASDAQ:NATH) today reported results for its third fiscal quarter ended December 28, 2025. For the thirteen-week period ended December 28, 2025 (“third quarter fiscal 2026”): Revenues were $34,312,000 as compared to $31,519,000 during the thirteen weeks ended December 29, 2024; Income from operations was $5,127,000 as compared to $6,752,000 during the thirteen weeks ended December 29, 2024; Adjusted EBITDA1, a non-GAAP financial measure, was $5,967,000 as compared to $7,479,000 during the thirteen weeks ended December 29, 2024; Income before provision for income taxes was $4,748,000 as compared to $6,059,000 during the thirteen weeks ended December 29, 2024; Net income was $3,084,000 as compared to $4,484,000 during the thirteen weeks ended December 29, 2024; and Earnings per diluted share was $0.75 per share as compared to $1.10 per share during the thirteen weeks ended December 29, 2024. For the thirty-nine weeks ended December 28, 2025 (“fiscal 2026”): Revenues were $126,997,000 as compared to $117,395,000 during the thirty-nine weeks ended December 29, 2024; Income from operations was $25,420,000 as compared to $30,129,000 during the thirty-nine weeks ended December 29, 2024; Adjusted EBITDA1, a non-GAAP financial measure, was $27,778,000 as compared to $32,110,000 during the thirty-nine weeks ended December 29, 2024; Income before provision for income taxes was $24,026,000 as compared to $26,942,000 during the thirty-nine weeks ended December 29, 2024; Net income was $17,211,000 as compared to $19,791,000 during the thirty-nine weeks ended December 29, 2024; and Earnings per diluted share was $4.17 per share as compared to $4.84 per share during the thirty-nine weeks ended December 29, 2024. The Company also reported the following: License royalties decreased to $28,993,000 during the thirty-nine weeks ended December 28, 2025, (“fiscal 2026 period”) as compared to $29,517,000 during the thirty-nine weeks ended December 29, 2024. During the fiscal 2026 period, royalties earned under the retail agreement, including the foodservice program, from Smithfield Foods, Inc., decreased 2% to $26,315,000 as compared to $26,751,000 of royalties earned during the thirty-nine weeks ended December 29, 2024. In the Branded Product Program, which features the sale of Nathan’s hot dogs to the foodservice industry, sales increased by $10,090,000 to $81,871,000 during the fiscal 2026 period as compared to $71,781,000 during the thirty-nine weeks ended December 29, 2024. The volume of hot dogs sold by the Company increased by 1%. Our average selling price, which is partially correlated to the beef markets, increased by approximately 12% compared to the prior year period. Income from operations decreased by $2,955,000 to $2,451,000 during the fiscal 2026 period as compared to $5,406,000 for the thirty-nine weeks ended December 29, 2024, due primarily to a 19% increase in the cost of beef and beef trimmings. Sales from Company-owned restaurants were $11,256,000 during the fiscal 2026 period as compared to $11,351,000 during the thirty-nine weeks ended December 29, 2024. Restaurant sales were primarily impacted by a 2% decline in customer traffic offset, in part, by a 1% increase in average check. Revenues from franchise operations were $3,372,000 during the fiscal 2026 period as compared to $3,238,000 during the thirty-nine weeks ended December 29, 2024. Total royalties were $3,045,000 during the fiscal 2026 period as compared to $2,944,000 during the thirty-nine weeks ended December 29, 2024. Franchise restaurant sales increased by $1,878,000 to $54,278,000 as compared to $52,400,000 for the thirty-nine weeks ended December 29, 2024.2 Total franchise fee income, including cancellation fees, was $327,000 during the fiscal 2026 period as compared to $294,000 during the thirty-nine weeks ended December 29, 2024. Eighteen franchised locations opened during the fiscal 2026 period. Twenty-three franchised locations closed during the fiscal 2026 period. During the fiscal 2026 period, we recorded Advertising Fund revenue of $1,505,000 and expense of $1,626,000. During the fiscal 2026 period, the Board of Directors declared and paid three regular quarterly cash dividends of $0.50 per share totaling $6,134,000 and one special cash dividend of $2.50 per share totaling $10,224,000. Effective February 5, 2026, as permitted under the Merger Agreement (as defined below) the Board of Directors declared its regular quarterly cash dividend of $0.50 per share payable on February 27, 2026 to shareholders of record at the close of business on February 17, 2026. As previously announced, on January 20, 2026, Nathan's entered into an Agreement and Plan of Merger (the "Merger Agreement") with Smithfield Foods, Inc. ("Smithfield Foods") and Boardwalk Merger Sub Inc. under which Smithfield Foods will acquire Nathan's for $102.00 in cash per share of Nathan's common stock for a total enterprise value of approximately $450 million, and Nathan's will become a privately-held company. The closing of the transaction is expected to occur in the first half of 2026, subject to satisfaction of certain conditions set forth in the Merger Agreement, including obtaining approval by the holders of a majority of the outstanding Nathan’s common stock, expiration or termination of the applicable waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976, as amended, approval from the Committee on Foreign Investment in the United States (CFIUS), and other customary closing conditions. Certain Non-GAAP Financial Information: In addition to disclosing results that are determined in accordance with Generally Accepted Accounting Principles in the United States of America ("US GAAP"), the Company is disclosing EBITDA, a non-GAAP financial measure which is defined as net income, excluding (i) interest expense; (ii) provision for income taxes and (iii) depreciation and amortization expense. The Company is also disclosing Adjusted EBITDA, a non-GAAP financial measure which is defined as EBITDA, excluding (i) the loss on debt extinguishment and (ii) share-based compensation that the Company believes will impact the comparability of its results of operations. The Company believes that EBITDA and Adjusted EBITDA are useful to investors to assist in assessing and understanding the Company's operating performance and underlying trends in the Company's business because EBITDA and Adjusted EBITDA are (i) among the measures used by management in evaluating performance and (ii) are frequently used by securities analysts, investors and other interested parties as a common performance measure. EBITDA and Adjusted EBITDA are not recognized terms under US GAAP and should not be viewed as alternatives to net income or other measures of financial performance or liquidity in conformity with US GAAP. Additionally, our definitions of EBITDA and Adjusted EBITDA may differ from other companies. Analysis of results and outlook on a non-US GAAP basis should be used as a complement to, and in conjunction with, data presented in accordance with US GAAP. Please see the table at the end of this press release for a reconciliation of EBITDA and Adjusted EBITDA to net income. About Nathan’s Famous Nathan’s is a Russell 2000 Company that currently distributes its products in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, and twenty-one foreign countries through its restaurant system, foodservice sales programs and product licensing activities. For additional information about Nathan’s please visit our website at www.nathansfamous.com. 1 EBITDA and Adjusted EBITDA are non-GAAP financial measures. Please see the definitions of EBITDA and Adjusted EBITDA on page 3 of this release and the reconciliation of EBITDA and Adjusted EBITDA to net income in the table at the end of this release. 2 Franchise restaurant sales are not revenues of the Company and are not included in the Company’s Condensed Consolidated Financial Statements. Except for historical information contained in this news release, the matters discussed are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risks and uncertainties. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, and similar expressions identify forward-looking statements, which are based on the current belief of the Company’s management, as well as assumptions made by and information currently available to the Company’s management. Among the factors that could cause actual results to differ materially include but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement or the failure to satisfy the closing conditions; the possibility that the consummation of the proposed transaction is delayed or does not occur, including the failure of Nathan's stockholders to approve the proposed transaction; uncertainty as to whether the parties will be able to complete the proposed transaction on the terms set forth in the Merger Agreement; uncertainty regarding the timing of the receipt of required regulatory approvals for the proposed transaction and the possibility that the parties may be required to accept conditions that could reduce or eliminate the anticipated benefits of the proposed transaction as a condition to obtaining regulatory approvals or that the required regulatory approvals might not be obtained at all; the outcome of any legal proceedings that have been or may be instituted against the parties or others following announcement of the transactions contemplated by the Merger Agreement; challenges, disruptions and costs of integrating and achieving anticipated synergies, or that such synergies will take longer to realize than expected, risks that the proposed transaction and other transactions contemplated by the Merger Agreement disrupt current plans and operations that may harm Nathan's businesses; the amount of any costs, fees, expenses, impairments and charges related to the proposed transaction, and uncertainty as to the effects of the announcement or pendency of the proposed transaction on the market price of Nathan's common stock and/or on its financial performance; the impact of disease epidemics such as the COVID-19 pandemic; increases in the cost of food and paper products; the impact of price increases on customer visits; the status of our licensing and supply agreements, including our licensing revenue and overall profitability being substantially dependent on our agreement with Smithfield Foods, Inc.; the impact of our debt service and repayment obligations under our credit facility, including the effect on our ability to fund working capital, operations and make new investments; economic (including inflationary pressures like those currently being experienced); weather (including the impact on sales at our restaurants particularly during the summer months), and changes in the price of beef and beef trimmings; our ability to pass on the cost of any price increases in beef and beef trimmings; legislative and business conditions; potential changes in U.S. income tax or tariff policies; the collectability of receivables; changes in consumer tastes; the continued viability of Coney Island as a destination location for visitors; the ability to attract franchisees; the impact of the minimum wage legislation on labor costs in New York State or other changes in labor laws, including regulations which could render a franchisor as a “joint employer” or the impact of our union contracts; our ability to attract competent restaurant and managerial personnel; the enforceability of international franchising agreements; the future effects of any food borne illness, such as bovine spongiform encephalopathy, BSE and e coli; and the risk factors reported from time to time in the Company’s SEC reports. The Company does not undertake any obligation to update such forward-looking statements. This press release was published by a CLEAR® Verified individual.

Shares of Nathan’s Famous, Inc. NATH have lost 9.9% since the company released results for the quarter ended Sept. 28, 2025, notably lagging the S&P 500 Index’s 0.8% gain over the same period. Over the past month, the stock has slipped 9.1%, while the broader index has advanced 3.6%, underscoring continued investor caution following the earnings announcement. Nathan’s Famous posted higher revenues but lower profitability in the second quarter of fiscal 2026. Quarterly revenues rose 11.1% to $45.7 million from $41.1 million a year earlier, driven primarily by growth in the Branded Product Program, but income from operations dropped 22.1% to $7.5 million from $9.6 million. Net income declined 13.8% to $5.2 million from $6 million, and diluted earnings per share fell 14.3% to $1.26 from $1.47. Segment results reflected mixed performance. Revenues in the branded product program increased 18.4% to $29 million from $24.5 million, product licensing revenue dipped 2.8% to $9.2 million from $9.5 million, and restaurant operations revenue improved 4.9% to $6.8 million from $6.5 million. Corporate revenue was essentially flat year over year. NATH delivered solid top-line growth in the Branded Product Program during the quarter, but at the cost of margin compression. For the 13 weeks ended Sept. 28, 2025, branded product revenue rose 18.4% to $29 million from $24.5 million, driven by roughly a 7% increase in hot dog volume and an 11% increase in average selling price versus the prior-year quarter. However, the cost of sales in this segment climbed 26.9% to $29.6 million from $23.3 million, reflecting a 20% rise in the average cost per pound of hot dogs due to higher beef and beef-trimmings prices. As a result, the Branded Product Program swung to an operating loss of $1.1 million against an operating income of $0.7 million a year earlier. Company-owned restaurants fared better on profitability. Quarterly restaurant sales increased 5.2% to $5.6 million from $5.3 million, supported by a 7% traffic increase at the Coney Island locations. Restaurant cost of sales was $2.8 million, or 50% of sales, slightly improved from 51% in the prior-year quarter. Food and paper costs as a percentage of company-owned restaurant sales declined to 23.8% from 24.2%, and labor and related costs as a percentage of company-owned restaurant sales eased to 25.7% from 26.5%, helped by menu price increases and labor-efficiency efforts that more than offset New York State minimum wage hikes. Restaurant operating income improved 11.9% to $1.9 million from $1.8 million in the year-ago period. Adjusted EBITDA for the quarter declined 20% to $8.3 million from $10.4 million, reflecting both higher input costs and lower licensing revenue. On a year-to-date (26 weeks) basis, the same cost dynamics are evident. Branded Product Program revenue increased 14.7% to $58.1 million from $50.7 million, with hot dog volume up 3% and average selling prices 10% higher than a year earlier, but the average cost per pound of hot dogs was about 16% higher, keeping pressure on margins even as the segment remained profitable for the first half. On a year-to-date basis, Nathan’s Famous opened 14 franchised locations, and franchise-related revenues — including royalties and fees — ticked higher. Franchise restaurant sales, which are not included in company revenues, rose 5.5% to $38.3 million from $36.3 million. Nathan's Famous, Inc. price-consensus-eps-surprise-chart | Nathan's Famous, Inc. Quote Management highlighted the ongoing impact of commodity inflation, particularly in beef markets, which remains a central driver of margin volatility across the business. Nathan’s Famous continues to face a cost environment where increases in beef and beef-trimming prices can outpace pricing actions, pressuring profitability even during periods of revenue growth. Leadership also pointed to broader economic factors, including inflationary trends and labor cost increases, as ongoing considerations for operational performance. NATH underscored the importance of its licensing partnerships and franchise expansion efforts in supporting long-term growth. Results continue to be influenced by the performance of the flagship Coney Island locations, which remain key traffic drivers within the restaurant segment. Management also reiterated the broader set of risks tied to consumer demand shifts, weather-related impacts on seasonal restaurant traffic, and Nathan’s Famous’ reliance on consistent performance under its major licensing agreement. Stronger top-line performance in the quarter stemmed primarily from the Branded Product Program, supported by higher selling prices and modest volume gains. However, Nathan’s Famous’ cost structure absorbed significant inflationary pressure, particularly in beef inputs, leading to the compression of operating margins. The product licensing segment, a historically high-margin contributor, posted slight erosion due to lower royalties, while corporate expenses increased year over year. Nathan’s Famous did not issue formal financial guidance for upcoming periods. Management refrained from providing revenue, margin or earnings projections, instead maintaining a cautious stance amid ongoing cost pressures and market uncertainties. While acknowledging the variables that could influence future performance, NATH chose not to offer specific forward-looking targets at this time. The board of directors declared two quarterly dividends of $0.50 per share during the first half of the fiscal year and, on Nov. 6, declared another quarterly dividend and a special cash dividend of $2.50 per share, payable in December 2025. No acquisitions, divestitures or restructuring activities were disclosed in the source documents. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nathan's Famous, Inc. (NATH): Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Declares Regular Quarterly Cash Dividend Of $0.50 Per Share and Special Cash Dividend Of $2.50 Per Share JERICHO, N.Y., Nov. 06, 2025 (GLOBE NEWSWIRE) -- Nathan's Famous, Inc. (“Nathan’s”, the “Company”, “we”, “us” or “our”) (NASDAQ:NATH) today reported results for its second fiscal quarter ended September 28, 2025. For the thirteen-week period ended September 28, 2025 (“second quarter fiscal 2026”): Revenues were $45,687,000 as compared to $41,109,000 during the thirteen weeks ended September 29, 2024; Income from operations was $7,502,000 as compared to $9,632,000 during the thirteen weeks ended September 29, 2024; Adjusted EBITDA1, a non-GAAP financial measure, was $8,280,000 as compared to $10,350,000 during the thirteen weeks ended September 29, 2024; Income before provision for income taxes was $7,021,000 as compared to $8,099,000 during the thirteen weeks ended September 29, 2024; Net income was $5,199,000 as compared to $6,030,000 during the thirteen weeks ended September 29, 2024; and Earnings per diluted share was $1.26 per share as compared to $1.47 per share during the thirteen weeks ended September 29, 2024. For the twenty-six weeks ended September 28, 2025 (“fiscal 2026”): Revenues were $92,685,000 as compared to $85,876,000 during the twenty-six weeks ended September 29, 2024; Income from operations was $20,293,000 as compared to $23,377,000 during the twenty-six weeks ended September 29, 2024; Adjusted EBITDA1, a non-GAAP financial measure, was $21,811,000 as compared to $24,631,000 during the twenty-six weeks ended September 29, 2024; Income before provision for income taxes was $19,278,000 as compared to $20,883,000 during the twenty-six weeks ended September 29, 2024; Net income was $14,127,000 as compared to $15,307,000 during the twenty-six weeks ended September 29, 2024; and Earnings per diluted share was $3.42 per share as compared to $3.74 per share during the twenty-six weeks ended September 29, 2024. The Company also reported the following: License royalties decreased to $21,608,000 during the twenty-six weeks ended September 28, 2025, (“fiscal 2026 period”) as compared to $22,412,000 during the twenty-six weeks ended September 29, 2024. During the fiscal 2026 period, royalties earned under the retail agreement, including the foodservice program, from Smithfield Foods, Inc., decreased 4% to $19,853,000 as compared to $20,605,000 of royalties earned during the twenty-six weeks ended September 29, 2024. In the Branded Product Program, which features the sale of Nathan’s hot dogs to the foodservice industry, sales increased by $7,440,000 to $58,122,000 during the fiscal 2026 period as compared to $50,682,000 during the twenty-six weeks ended September 29, 2024. The volume of hot dogs sold by the Company increased by 3%. Our average selling price, which is partially correlated to the beef markets, increased by approximately 10% compared to the prior year period. Income from operations decreased by $2,003,000 to $1,194,000 during the fiscal 2026 period as compared to $3,197,000 for the twenty-six weeks ended September 29, 2024, due primarily to a 16% increase in the cost of beef and beef trimmings. Sales from Company-owned restaurants were $9,610,000 during the fiscal 2026 period as compared to $9,547,000 during the twenty-six weeks ended September 29, 2024. Restaurant sales were impacted by higher sales at our Coney Island locations which were offset by lower sales at our locations in Oceanside and Yonkers, New York. Revenues from franchise operations were $2,352,000 during the fiscal 2026 period as compared to $2,247,000 during the twenty-six weeks ended September 29, 2024. Total royalties were $2,139,000 during the fiscal 2026 period as compared to $2,047,000 during the twenty-six weeks ended September 29, 2024. Franchise restaurant sales increased by $1,982,000 to $38,316,000 as compared to $36,334,000 for the twenty-six weeks ended September 29, 2024.2 Total franchise fee income, including cancellation fees, was $213,000 during the fiscal 2026 period as compared to $200,000 during the twenty-six weeks ended September 29, 2024. Fourteen franchised locations opened during the fiscal 2026 period. During the fiscal 2026 period, we recorded Advertising Fund revenue of $993,000 and expense of $1,114,000. During the fiscal 2026 period, the Board of Directors declared and paid two quarterly cash dividends of $0.50 per share totaling $4,089,000. Effective November 6, 2025, the Board of Directors declared its quarterly cash dividend of $0.50 per share payable on December 5, 2025 to shareholders of record at the close of business on November 24, 2025. Effective November 6, 2025, the Board of Directors declared a special cash dividend of $2.50 per share payable on December 5, 2025 to shareholders of record at the close of business on November 24, 2025. Certain Non-GAAP Financial Information: In addition to disclosing results that are determined in accordance with Generally Accepted Accounting Principles in the United States of America ("US GAAP"), the Company is disclosing EBITDA, a non-GAAP financial measure which is defined as net income, excluding (i) interest expense; (ii) provision for income taxes and (iii) depreciation and amortization expense. The Company is also disclosing Adjusted EBITDA, a non-GAAP financial measure which is defined as EBITDA, excluding (i) the loss on debt extinguishment and (ii) share-based compensation that the Company believes will impact the comparability of its results of operations. The Company believes that EBITDA and Adjusted EBITDA are useful to investors to assist in assessing and understanding the Company's operating performance and underlying trends in the Company's business because EBITDA and Adjusted EBITDA are (i) among the measures used by management in evaluating performance and (ii) are frequently used by securities analysts, investors and other interested parties as a common performance measure. EBITDA and Adjusted EBITDA are not recognized terms under US GAAP and should not be viewed as alternatives to net income or other measures of financial performance or liquidity in conformity with US GAAP. Additionally, our definitions of EBITDA and Adjusted EBITDA may differ from other companies. Analysis of results and outlook on a non-US GAAP basis should be used as a complement to, and in conjunction with, data presented in accordance with US GAAP. Please see the table at the end of this press release for a reconciliation of EBITDA and Adjusted EBITDA to net income. About Nathan’s Famous Nathan’s is a Russell 2000 Company that currently distributes its products in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, and twenty foreign countries through its restaurant system, foodservice sales programs and product licensing activities. For additional information about Nathan’s please visit our website at www.nathansfamous.com. _____________________ 1 EBITDA and Adjusted EBITDA are non-GAAP financial measures. Please see the definitions of EBITDA and Adjusted EBITDA on page 3 of this release and the reconciliation of EBITDA and Adjusted EBITDA to net income in the table at the end of this release. 2 Franchise restaurant sales are not revenues of the Company and are not included in the Company’s Condensed Consolidated Financial Statements. Except for historical information contained in this news release, the matters discussed are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risks and uncertainties. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, and similar expressions identify forward-looking statements, which are based on the current belief of the Company’s management, as well as assumptions made by and information currently available to the Company’s management. Among the factors that could cause actual results to differ materially include but are not limited to: the impact of disease epidemics such as the COVID-19 pandemic; increases in the cost of food and paper products; the impact of price increases on customer visits; the status of our licensing and supply agreements, including our licensing revenue and overall profitability being substantially dependent on our agreement with Smithfield Foods, Inc.; the impact of our debt service and repayment obligations under our credit facility, including the effect on our ability to fund working capital, operations and make new investments; economic (including inflationary pressures like those currently being experienced); weather (including the impact on sales at our restaurants particularly during the summer months), and changes in the price of beef and beef trimmings; our ability to pass on the cost of any price increases in beef and beef trimmings; legislative and business conditions; the collectability of receivables; changes in consumer tastes; the continued viability of Coney Island as a destination location for visitors; the ability to attract franchisees; the impact of the minimum wage legislation on labor costs in New York State or other changes in labor laws, including regulations which could render a franchisor as a “joint employer” or the impact of our union contracts; our ability to attract competent restaurant and managerial personnel; the enforceability of international franchising agreements; the future effects of any food borne illness, such as bovine spongiform encephalopathy, BSE and e coli; and the risk factors reported from time to time in the Company’s SEC reports. The Company does not undertake any obligation to update such forward-looking statements.

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even companies that have no revenue, no profit, and a record of falling short, can manage to find investors. But as Peter Lynch said in One Up On Wall Street, 'Long shots almost never pay off.' Loss-making companies are always racing against time to reach financial sustainability, so investors in these companies may be taking on more risk than they should. Despite being in the age of tech-stock blue-sky investing, many investors still adopt a more traditional strategy; buying shares in profitable companies like Nathan's Famous (NASDAQ:NATH). Now this is not to say that the company presents the best investment opportunity around, but profitability is a key component to success in business. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. If you believe that markets are even vaguely efficient, then over the long term you'd expect a company's share price to follow its earnings per share (EPS) outcomes. That makes EPS growth an attractive quality for any company. Over the last three years, Nathan's Famous has grown EPS by 17% per year. That's a good rate of growth, if it can be sustained. Top-line growth is a great indicator that growth is sustainable, and combined with a high earnings before interest and taxation (EBIT) margin, it's a great way for a company to maintain a competitive advantage in the market. While we note Nathan's Famous achieved similar EBIT margins to last year, revenue grew by a solid 6.4% to US$150m. That's a real positive. You can take a look at the company's revenue and earnings growth trend, in the chart below. For finer detail, click on the image. View our latest analysis for Nathan's Famous While profitability drives the upside, prudent investors always check the balance sheet, too. It should give investors a sense of security owning shares in a company if insiders also own shares, creating a close alignment their interests. Nathan's Famous followers will find comfort in knowing that insiders have a significant amount of capital that aligns their best interests with the wider shareholder group. Notably, they have an enviable stake in the company, worth US$133m. This totals to 30% of shares in the company. Enough to lead management's decision making process down a path that brings the most benefit to shareholders. So there is opportunity here to invest in a company whose management have tangible incentives to deliver. It's good to see that insiders are invested in the company, but are remuneration levels reasonable? Well, based on the CEO pay, you'd argue that they are indeed. The median total compensation for CEOs of companies similar in size to Nathan's Famous, with market caps between US$200m and US$800m, is around US$2.4m. Nathan's Famous' CEO took home a total compensation package worth US$1.7m in the year leading up to March 2025. That is actually below the median for CEO's of similarly sized companies. CEO remuneration levels are not the most important metric for investors, but when the pay is modest, that does support enhanced alignment between the CEO and the ordinary shareholders. It can also be a sign of good governance, more generally. One positive for Nathan's Famous is that it is growing EPS. That's nice to see. The fact that EPS is growing is a genuine positive for Nathan's Famous, but the pleasant picture gets better than that. Boasting both modest CEO pay and considerable insider ownership, you'd argue this one is worthy of the watchlist, at least. Even so, be aware that Nathan's Famous is showing 2 warning signs in our investment analysis , and 1 of those is significant... There's always the possibility of doing well buying stocks that are not growing earnings and do not have insiders buying shares. But for those who consider these important metrics, we encourage you to check out companies that do have those features. You can access a tailored list of companies which have demonstrated growth backed by significant insider holdings. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.