Nathan’s Famous Posts Q4 Results Amid Hot Dog Eating Contest Drama

  • Nathan’s Famous (NATH) posted its Q4 earnings report during recent controversy.
  • This comes after it banned Joey Chestnut from its 2024 hot dog eating contest.
  • The company did so after he signed a deal to represent Impossible Foods.
Nathan’s Famous Hot Dog Eating Contest - Nathan’s Famous Posts Q4 Results Amid Hot Dog Eating Contest Drama

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Nathan’s Famous (NASDAQ:NATH) has posted its earnings report for its fiscal fourth quarter of 2024 all while caught up in drama over its hot dog eating contest.

Starting with that earnings report, the company brought in EPS of 96 cents alongside revenue of $138.61 million. These are both up year-over-year (YOY) compared to its EPS of 80 cents and revenue of $130.79 million.

To go along with that, Nathan’s Famous also reported a cash dividend of 50 cents per share for the first quarter of fiscal 2025. Shareholders need to be on record as of June 24, 2024 to get the dividend on July 2, 2024.

Nathan’s Famous Hot Dog Eating Contest Drama

At the same time, the company is embroiled in drama after banning 16-time champion Joey Chestnut from its 2024 contest. It did so after Chestnut signed a promotional deal with vegan alternative Impossible Foods.

Here’s what the company said about this to Yahoo Sports:

For nearly two decades we have worked under the same basic hot dog exclusivity provisions. However, it seems that Joey and his managers have prioritized a new partnership with a different hot dog brand over our long-time relationship.

Nathan’s Famous says it’s willing to allow Chestnut back into the hot dog eating contest. However, it won’t do so until Chestnut isn’t representing a rival brand.

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2024/06/nathans-famous-posts-q4-results-amid-hot-dog-eating-contest-drama/.

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