Meritage Hosp Stock Price, News & Analysis

Meritage Hospitality Group Inc. (OTCQX: MHGU) announced the sudden passing of Board member Duane Kluting. Kluting, who joined the company in 2005, served as a member of the Audit Committee and brought significant financial expertise from his previous roles at BDO, Herman Miller, and X-Rite.

CEO Robert Schermer acknowledged Kluting's valuable contributions to the company's growth and leadership, highlighting his dedication and trustworthy service during his tenure on the board. Kluting's financial background and commitment to the company's development made him an integral part of Meritage's governance structure.

Meritage Hospitality Group (OTCQX: MHGU) reported mixed financial results for Q4 and full-year 2024. Q4 highlights include: sales up 0.5% to $168.7M, net income surged 227% to $5.2M, and EBITDA increased 40.8% to $13.7M.

Full-year 2024 performance showed: sales slightly down to $668.8M from $672.5M, net earnings up 33.1% to $8.0M, EBITDA growth of 9.0% to $42.4M, and diluted EPS increase of 33.9% to $0.75.

For 2025, despite weather challenges in early months, Meritage forecasts substantial growth:

• Sales growth: +3% to +5%
• Net Earnings growth: +40% to +50%
• EBITDA growth: +15% to +25%
• Diluted EPS growth: +30% to +40%

The company is implementing Wendy's Fresh AI for automated drive-thru ordering and plans to expand with 3-5 new Morning Belle locations in 2025.

Meritage Hospitality Group (OTCQX: MHGU) reported its 2024 preliminary results and 2025 outlook. Q4 2024 showed a 0.5% sales increase to $168.7M, with net income rising 227% to $5.2M. Full-year 2024 results included $668.8M in sales (down from $672.5M), while net earnings increased 33.1% to $8.0M.

The company faced $8.6M in operational and one-time charges related to non-Wendy's restaurant closings. Operating with 379 restaurants across 15 states, Meritage plans 35-40 new and reimaged locations for 2025, including Morning Belle expansion.

The 2025 outlook projects significant growth: 5-10% in sales, 90-100% in operations earnings, 75-85% in net earnings, and 15-25% in EBITDA. The company will implement Wendy's FreshAI drive-thru technology in Q1 2025.

Meritage Hospitality Group Inc. (OTCQX: MHGU) reported its financial results for Q3 and the first nine months of 2024. Q3 highlights include:

• Sales of $164.8 million, down from $170.3 million in Q3 2023
• Earnings from Operations of $0.4 million, compared to $3.2 million last year
• Net Loss of $1.8 million, versus $0.0 million in Q3 2023
• Consolidated EBITDA of $6.3 million, down from $8.1 million

The company noted a one-time, non-cash expense of $1.8 million related to closure and dispositions. For the first nine months of 2024, sales reached $500.1 million, slightly down from $504.6 million in 2023. Meritage operates 381 restaurants and forecasts accelerated sales and margin expansion driven by new Wendy's and Morning Belle restaurants, reimaged locations, and future acquisitions.

Meritage Hospitality Group, a leading franchise operator, released its financial results for Q2 2024, ending June 30. The company's sales reached $172.4 million, slightly down from $176.6 million the previous year. Earnings from operations were $7.1 million, compared to $8.9 million last year. Net earnings stood at $3.4 million, a decrease from $5.9 million. The consolidated EBITDA was $12.9 million versus $15.6 million last year.

CEO Robert E. Schermer, Jr. emphasized improved sales in the latter half of the quarter due to successful Wendy's promotions and new product offerings. He noted improvements in food and labor costs and highlighted the resilience of the Wendy’s brand. For the first half of 2024, sales increased to $335.2 million, and net earnings rose to $5.0 million. Meritage remains committed to expanding its Wendy's stores and enhancing customer experience through strategic investments and operational excellence.

Meritage Hospitality Group (OTCQX: MHGU) announced the results of its Annual Shareholders Meeting and a second-quarter dividend. Shareholders approved the election of six directors for a one-year term. The Board approved a quarterly dividend of $0.06 per share, a 100% increase from last year, payable on July 1, 2024, to shareholders of record on June 15, 2024. CEO Robert E. Schermer, Jr. highlighted improvements in food and labor inflation and projected a positive outlook for the rest of 2024. The company expects sales growth of 4% to 10%, earnings from operations to rise by 45% to 55%, net income to increase by 75% to 85%, and EBITDA to grow by 20% to 30%.

Meritage Hospitality Group announced results from its Annual Shareholders Meeting and declared a second-quarter dividend. Shareholders approved the election of six directors for a one-year term. The Board of Directors approved a $0.06 per share dividend, payable on July 1, 2024, a 100% increase from the prior year. CEO Robert E. Schermer, Jr. highlighted a positive earnings outlook, with expected sales growth of 5% to 10%, earnings from operations growth of 65% to 75%, net income increase of 145% to 155%, and EBITDA growth of 30% to 40% for 2024. The company continues to focus on expanding its Wendy’s and Morning Belle restaurant operations.