Meritage Hospitality Group Inc. reports positive sales and earnings growth for Q2 2024.

From GlobeNewswire.: 2024-07-12 16:39:00

Meritage Hospitality Group Inc. reported financial results for Q2 2024. Sales were $172.4 million, Earnings from Operations were $7.1 million, Net Earnings were $3.4 million, and Consolidated EBITDA was $12.9 million. Sales for the first six months increased to $335.2 million with Earnings from Operations and Net Earnings also showing growth.

The company’s CEO, Robert E. Schermer, Jr., highlighted the positive sales trends and improvements in prime costs. Meritage remains focused on driving earnings growth through store-level performance and new unit development. The commitment to Wendy’s brand initiatives and new restaurant facilities has resulted in strong sales and earnings results.

Meritage Hospitality Group operates 388 restaurants across 15 states. The company is headquartered in Grand Rapids, Michigan, with approximately 12,000 employees. Meritage continues to strive for best-in-class results through operational excellence and strategic acquisitions in the quick service industry. For more information, visit the company’s website or SEC Rule 15c2-11 and FINRA Rule 6432 listings.

Forward-looking statements in the news release highlight future economic performance and financial plans. Factors indicated in the Safe Harbor Statement could impact the company’s actual results. Investors are advised to review the full Safe Harbor Statement on Meritage Hospitality Group’s website for a comprehensive understanding of potential impacts. Contact CEO Robert E. Schermer, Jr. for further information at 616-776-2600 ext. 1012.



Read more at GlobeNewswire.:: Meritage Reports Second Quarter 2024 Results; Continued