Meritage Hospitality Group Inc. reports recurring developments in its franchise restaurant operating platform, including quarterly and annual sales, restaurant operating income, net earnings and Consolidated EBITDA. The company’s updates center on its Wendy’s restaurant portfolio, its proprietary Morning Belle breakfast, brunch and lunch concept, and restaurant development, reimaging and closure activity.
Company news also covers operating-margin trends, food, paper and labor cost pressures, menu and beverage innovation, delivery and restaurant technology initiatives, real estate development, strategic acquisitions and capital allocation. Governance updates and shareholder-liquidity discussions appear as part of Meritage’s public-company communications.
Meritage Hospitality Group (OTCQX: MHGU) reported a strong third quarter for 2020, reflecting a 15.9% increase in sales to $136.6 million compared to the previous year. Earnings from operations rose 40.0% to $8.2 million, while net earnings surged 74.0% to $4.6 million. Consolidated EBITDA also increased 26.5% to $12.8 million. The company reinstated preferred stock dividends effective October 1, 2020. For the nine months, sales increased 8.6% to $376.1 million, although net earnings were $7.0 million, down from $10.5 million due to COVID-19 related expenses. Looking ahead, Meritage aims for ongoing growth through new restaurant developments.