NATHANS FAMOUS, INC.

Nathan's Famous, Inc. has entered into a Merger Agreement with Smithfield Foods, Inc., under which Nathan's Famous will become a wholly owned subsidiary of Smithfield Foods. The transaction is expected to close in the second half of 2026, subject to shareholder approval and regulatory clearances. The company reported fiscal 2026 revenues of $12,508,000 from company-owned restaurants, $4,317,000 from franchise operations, and $105,768,000 from its Branded Product Program. Licensing revenue for fiscal 2026 was $37,417,000.

Nathan's Famous reported its fourth-quarter and full-year financial results, showing increased revenues but decreased earnings per share for both periods. The company declared a quarterly cash dividend of $0.50 per share. The previously announced merger with Smithfield Foods is now anticipated to close in the second half of 2026, a delay attributed to the CFIUS review process.

Nathan's Famous, Inc. reported mixed results for its fiscal year and fourth quarter ended March 29, 2026. While full-year revenues increased by 9.4% to $162.1 million, net income and diluted EPS declined by 16.7% and 17.4% respectively. For the fourth quarter, revenues rose by 13.9% to $35.1 million, but net income and diluted EPS also saw significant drops. The Board of Directors declared a quarterly cash dividend of $0.50 per share. The previously announced merger with Smithfield Foods, Inc. for $102.00 per share is now expected to close in the second half of 2026, a delay attributed to the partial government shutdown impacting CFIUS review.