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 Inc. (OTCQX: MHGU) is described in its public communications as one of the nation’s premier franchise restaurant operators, with a large portfolio of Wendy’s restaurants and its proprietary Morning Belle breakfast-brunch concept. The MHGU news feed on Stock Titan aggregates company-issued updates so readers can follow how this multi-state restaurant operator reports on its business.
Meritage regularly releases quarterly and full-year financial results, highlighting trends in sales, earnings from operations, net earnings and EBITDA. These earnings releases often include commentary on restaurant performance, inflation in food, paper and labor, promotional environments in quick-service dining, and the impact of weather-related events or non-recurring charges. Investors tracking MHGU news can review how management describes sales momentum, operating margins and outlook ranges for future periods.
Beyond financial metrics, Meritage news covers restaurant development activity, including openings of new Wendy’s locations, renovations across its U.S. portfolio, and expansion of the Morning Belle concept. The company has also announced initiatives such as the rollout of Wendy’s Fresh AI, a generative AI ordering technology for drive-thru customers, and has discussed its broader operating and technology platform.
Corporate governance and capital allocation topics also appear in Meritage’s news, such as annual meeting results, director elections and quarterly dividend declarations. By following MHGU news, readers can see how the company communicates its growth plans, development pipeline, technology adoption and shareholder-focused actions over time.
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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.