Welcome to our dedicated page for Meritage Hosp news (Ticker: MHGU), a resource for investors and traders seeking the latest updates and insights on Meritage Hosp stock.
Meritage Hospitality Group (MHGU) operates one of the nation's largest quick-service restaurant platforms, with strategic focus on operational excellence and market expansion. This news hub provides investors and industry observers with essential updates about the company's financial performance, growth initiatives, and market positioning.
Key resources include: Quarterly earnings releases detailing same-store sales trends, announcements of new restaurant openings and acquisitions, updates on real estate development projects, and leadership changes. All content is sourced directly from official company communications to ensure accuracy.
Visitors gain strategic insights into MHGU's capital allocation priorities, including its dual focus on franchise expansion and company-operated locations. The curated news collection helps stakeholders track operational metrics, market share developments, and competitive positioning within the $331 billion U.S. limited-service restaurant industry.
Bookmark this page for streamlined access to MHGU's latest corporate announcements. Check regularly for updates on menu innovations, technology implementations, and other initiatives driving the company's 'next generation restaurant' strategy across its 400+ locations.
Meritage Hospitality Group Inc. (OTCQX: MHGU) reported its financial results for Q1 2023, showing sales up 8.7% to $157.7 million, compared to $145.1 million last year. However, earnings from operations fell to $0.9 million from $2.5 million, and the company recorded a net loss of $1.5 million compared to a net income of $2.0 million in the same period last year. Consolidated EBITDA declined to $5.4 million from $8.4 million. The company has entered into an agreement to acquire 25 Wendy’s restaurants, expected to close in Q2 2023. For 2023, the outlook remains optimistic, projecting sales growth of 10% to 20% and a potential EBITDA increase of 25% to 35%.
Meritage Hospitality Group Inc. (OTCQX: MHGU) reported its preliminary financial results for the fiscal year ending January 1, 2023. Sales increased 8.5% to a record $626.0 million, while net earnings fell to $9.1 million from $18.2 million due to one-time charges. Consolidated EBITDA dropped to $36.5 million from $47.5 million in the previous year. Looking ahead, the company forecasts sales growth of 10% to 15% and net earnings growth of 75% to 100% for 2023. Meritage plans to open approximately 15 Taco John’s locations and invest in new restaurant technologies.
Meritage Hospitality Group Inc. (OTCQX: MHGU) has announced its agreement to acquire a portfolio of Wendy’s restaurants in the Midwest, expected to generate approximately $65 million in annual sales. This acquisition aligns with the company's strategy for growth, supported by successful past acquisitions and recognition with the ‘U.S. Monument Award for Visionary Growth & Expansion.' The company forecasts robust growth in 2023, propelled by new locations and reimaged restaurants. The deal is set to close in the first half of 2023 and will be funded through cash and credit facilities.
Meritage Hospitality Group (OTCQX: MHGU) has entered into an agreement to acquire 43 Wendy’s restaurants in the Midwest, aiming for significant growth in 2023. This acquisition is expected to generate approximately $65 million in annual sales and is set to close in the first half of 2023, pending due diligence and franchise approvals. The company plans to fund this through cash and credit facilities. Meritage's five-year growth strategy includes expanding Wendy’s, Taco John’s, and its own Morning Belle brand, further solidifying its position as a leading restaurant operator.
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