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MERITAGE HOSPTLTY GRP INC - $MHGU STOCK NEWS

Welcome to our dedicated page for MERITAGE HOSPTLTY GRP news (Ticker: $MHGU), a resource for investors and traders seeking the latest updates and insights on MERITAGE HOSPTLTY GRP stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect MERITAGE HOSPTLTY GRP's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

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Rhea-AI Summary
Meritage Hospitality Group Inc. (MHGU) reported strong financial results for the first quarter of 2024, with sales increasing by 3.3% to $162.8 million, Earnings from Operations rising by 306.9% to $3.9 million, and Net Earnings increasing by 206.3% to $1.6 million. Consolidated EBITDA also saw a significant increase of 82.4% to $9.9 million. The company attributed this growth to profitable value menu sales and decreased inflation in food, paper, and labor costs.
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Meritage Hospitality Group Inc. (MHGU) reports strong financial performance in 2023 with record sales of $672.5 million, showcasing growth in sales, earnings, and EBITDA. The company ended the year with 388 restaurants across 16 states and forecasts accelerated earnings growth for fiscal 2024.
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-0.91%
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Rhea-AI Summary
Meritage Hospitality Group Inc. (MHGU) announces a quarterly special dividend of $0.06 per share, payable on January 1, 2024. The company reported third quarter sales of $170.3 million, with a 6.4% increase in Earnings from Operations. They plan to build 52 new Wendy's restaurants by 2026 and acquired 25 Wendy's restaurants in North Carolina and Virginia, expecting to add $42.0 million to annual sales.
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Meritage Hospitality Group reports Q3 financial results, with sales increasing by 6.1% to $170.3 million. Earnings from Operations also increased by 6.4% to $3.2 million. Net Earnings were $0.0 million compared to $1.8 million last year.
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9.37%
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Meritage Hospitality Group Inc. approves a quarterly special dividend of $0.09 per share and plans to develop and operate 7 Brew Coffee drive-thru locations. The Company aims to build up to 64 restaurant locations by the end of 2030. The 2023 full-year outlook projects improvements in food & labor cost, with sales, earnings from operations, net income, and EBITDA expected to increase by 10% to 30%. The Company has also expanded its agreement to build 52 new Wendy's restaurants by the end of 2026.
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MERITAGE HOSPTLTY GRP INC

OTC:MHGU

MHGU Rankings

MHGU Stock Data

114.72M
570.59k
Food Service Contractors
Accommodation and Food Services
Link
United States of America
Grand Rapids