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.
Meritage Hospitality Group Inc. (OTCQX: MHGU) announced the acquisition of six Wendy’s restaurants in Jacksonville, Florida, as part of its growth strategy aimed at reaching 400 locations. This acquisition, funded by cash reserves, is expected to contribute approximately $11.0 million in annual sales and enhance earnings. The company is on track to open a record number of new restaurants in 2022 and plans to renovate the acquired locations to improve guest experiences. Meritage aims for a sales growth of 10% to 15% alongside a similar increase in dividends for the second half of 2022.
Meritage Hospitality Group (OTCQX: MHGU) held its Annual Shareholders Meeting on May 17, 2022, where shareholders elected eight directors for one-year terms. A quarterly dividend of $0.12 per share was approved, payable on July 1, 2022, to shareholders of record as of June 15, 2022. The company anticipates a stronger second half of 2022, committing resources to open 100 new Wendy’s and Taco John’s locations by 2025. Meritage currently operates 345 restaurants across 15 states and employs approximately 11,000 individuals.
Meritage Hospitality Group Inc. (MHGU) reported a first-quarter sales increase of 8.4%, reaching $145.1 million versus $133.8 million last year. However, earnings from operations fell to $2.2 million from $6.3 million, and net earnings decreased to $1.7 million compared to $4.9 million. EBITDA also dropped to $8.2 million from $12.4 million. The company attributed these declines to inflation and operational challenges due to the Omicron variant but maintains a positive outlook as it plans to develop new Taco John’s restaurants under a 50-store agreement.
Meritage Hospitality Group (MHGU) has successfully sold its Twisted Rooster restaurant concept, gaining approximately $500,000. The sale aligns with its strategic growth aimed at expanding multi-unit franchise development. The company plans to invest about $200 million in new Wendy's and Taco John’s locations, with four new Wendy’s already opened in 2022, aiming for a total of 25. Meritage's focus on restaurant development and digital technology continues to enhance its operational strategy, further solidifying its position in the quick-service restaurant sector.
Meritage Hospitality Group Inc. (OTCQX: MHGU) announced preliminary financial results for the fiscal year ending January 2, 2022, showing strong sales growth despite challenges. Sales rose 11.8% to a record $577.1 million. However, Earnings from Operations fell to $18.1 million from $25.8 million the previous year. Net Earnings increased 15.5% to $18.2 million, with Diluted Earnings Per Share rising 14.6% to $1.81. The company secured a $302.8 million credit facility and a development agreement with Taco John's for 50 stores. The outlook for 2022 remains positive with a predicted sales growth of 10%-15%.
Meritage Hospitality Group Inc. (OTCQX: MHGU) announced a special quarterly dividend of $0.08 per share, payable on January 1, 2022, to shareholders of record on December 15, 2021. This marks a significant 129% increase in total dividends for the year, from $0.14 to $0.32 per share. The company reported a 13.9% rise in sales to $428.6 million and 13.5% growth in consolidated EBITDA to $37.6 million. Future plans include building 27 new restaurants and renovating 30 existing ones, aiming for ongoing growth.
Meritage Hospitality Group (OTCQX: MHGU) reported Q3 2021 results with sales up 8.0% to $147.5 million, driven by a strong recovery from the previous year. However, earnings decreased, with operational earnings at $1.8 million compared to $8.2 million last year, due to higher labor costs. Net earnings fell to $2.3 million from $4.6 million. The company remains optimistic with a new credit facility of $302.8 million and a development agreement for 50 Taco John’s stores. Year-to-date, sales increased 13.9% to $428.6 million, while dividends rose 243% to $0.24 per share.
Meritage Hospitality Group (OTCQX: MHGU) has announced an exclusive agreement to develop 50 Taco John’s restaurants across the U.S. by 2026, with the potential to expand to 150 additional locations. The estimated investment for this endeavor is around $100 million and includes favorable economic incentives such as royalty and marketing fee benefits, contingent upon meeting development criteria. The company forecasts impressive growth metrics for 2021, including a 10% to 15% increase in sales and a 100% to 125% rise in dividends, highlighting its robust performance in the restaurant sector.
Meritage Hospitality Group (OTCQX: MHGU) has announced a special quarterly dividend of $0.08 per share, payable on October 1, 2021, to shareholders of record on September 15, 2021. This marks a significant increase from last year’s dividend of $0.00. The company recently reported record second quarter financial results and secured a $302.8 million senior credit facility, enhancing future cash flow. Meritage aims for $1 billion in revenue by 2026, with projected sales growth of 10% to 15% and dividend growth of 100% to 125% for 2021.
Meritage Hospitality Group (OTCQX: MHGU) announced a new $302.8 million senior secured credit facility led by City National Bank, effective August 5, 2021. This replaces their prior credit facility due in February 2022. The new structure includes term debt of $181.8 million, a development line of credit of $86.0 million, and a revolving line of credit of $35.0 million. The facility offers improved cash flow benefits and supports the goal of expanding to 600 restaurants by 2026. The first half of 2021 saw strong sales and earnings growth, with a 100% increase in dividends to $0.16 per share.