Meritage Hosp Stock Price, News & Analysis

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.

Meritage Hospitality Group (OTCQX: MHGU) reported significant financial growth for Q2 2021. Sales rose 21% to $147.3 million, while net earnings increased 31.9% to $8.0 million. Earnings from operations were $8.5 million, reflecting a year-over-year decrease due to prior COVID-related benefits. For the first half, sales reached $281.1 million, up 17.4%. The company anticipates sales growth of 10% to 15% and net earnings growth of 20% to 30% for the full year, amidst ongoing expansion plans, including 15 new Wendy’s locations.

Meritage Hospitality Group Inc. (OTCQX: MHGU) held its Annual Shareholders Meeting, where shareholders elected eight directors for a one-year term. The Board approved a quarterly dividend of $0.08 per share, payable on July 1, 2021. The company reported a fully diluted EPS of $0.56 for Q1, a significant turnaround from a loss of ($0.64) last year. Year-to-date, dividend growth stands at 128%. Looking ahead, Meritage projects sales growth of 10% to 15% and net earnings growth of 20% to 30%, supported by plans to open 20 new locations.