Meritage Announces 2024 Full-Year Results; 2025 Outlook: Accelerating Earnings Growth
Meritage Hospitality Group (OTCQX: MHGU) reported mixed financial results for Q4 and full-year 2024. Q4 highlights include: sales up 0.5% to $168.7M, net income surged 227% to $5.2M, and EBITDA increased 40.8% to $13.7M.
Full-year 2024 performance showed: sales slightly down to $668.8M from $672.5M, net earnings up 33.1% to $8.0M, EBITDA growth of 9.0% to $42.4M, and diluted EPS increase of 33.9% to $0.75.
For 2025, despite weather challenges in early months, Meritage forecasts substantial growth:
- Sales growth: +3% to +5%
- Net Earnings growth: +40% to +50%
- EBITDA growth: +15% to +25%
- Diluted EPS growth: +30% to +40%
The company is implementing Wendy's Fresh AI for automated drive-thru ordering and plans to expand with 3-5 new Morning Belle locations in 2025.
Meritage Hospitality Group (OTCQX: MHGU) ha riportato risultati finanziari misti per il quarto trimestre e l'intero anno 2024. I punti salienti del Q4 includono: vendite aumentate dello 0,5% a $168,7 milioni, utile netto aumentato del 227% a $5,2 milioni ed EBITDA aumentato del 40,8% a $13,7 milioni.
Le performance per l'intero anno 2024 hanno mostrato: vendite leggermente diminuite a $668,8 milioni rispetto a $672,5 milioni, utili netti aumentati del 33,1% a $8,0 milioni, crescita dell'EBITDA del 9,0% a $42,4 milioni e aumento dell'EPS diluito del 33,9% a $0,75.
Per il 2025, nonostante le sfide meteorologiche nei primi mesi, Meritage prevede una crescita sostanziale:
- Crescita delle vendite: +3% a +5%
- Crescita degli utili netti: +40% a +50%
- Crescita dell'EBITDA: +15% a +25%
- Crescita dell'EPS diluito: +30% a +40%
L'azienda sta implementando Wendy's Fresh AI per gli ordini automatizzati al drive-thru e prevede di espandere con 3-5 nuove sedi di Morning Belle nel 2025.
Meritage Hospitality Group (OTCQX: MHGU) reportó resultados financieros mixtos para el cuarto trimestre y el año completo 2024. Los aspectos destacados del Q4 incluyen: ventas aumentadas un 0,5% a $168,7 millones, ingresos netos que se dispararon un 227% a $5,2 millones y EBITDA que creció un 40,8% a $13,7 millones.
El desempeño del año completo 2024 mostró: ventas ligeramente a la baja a $668,8 millones desde $672,5 millones, ganancias netas aumentadas un 33,1% a $8,0 millones, crecimiento del EBITDA del 9,0% a $42,4 millones y un aumento del EPS diluido del 33,9% a $0,75.
Para 2025, a pesar de los desafíos climáticos en los primeros meses, Meritage pronostica un crecimiento sustancial:
- Crecimiento de ventas: +3% a +5%
- Crecimiento de ganancias netas: +40% a +50%
- Crecimiento del EBITDA: +15% a +25%
- Crecimiento del EPS diluido: +30% a +40%
La empresa está implementando Wendy's Fresh AI para pedidos automatizados en el drive-thru y planea expandirse con 3-5 nuevas ubicaciones de Morning Belle en 2025.
Meritage Hospitality Group (OTCQX: MHGU)는 2024년 4분기 및 연간 재무 결과를 혼합하여 보고했습니다. 4분기 주요 내용은 매출이 0.5% 증가하여 1억 6,870만 달러, 순이익이 227% 급증하여 520만 달러, EBITDA가 40.8% 증가하여 1,370만 달러에 달했습니다.
2024년 전체 성과는 다음과 같습니다: 매출이 6억 6,880만 달러로 6억 7,250만 달러에서 소폭 감소, 순이익이 33.1% 증가하여 800만 달러, EBITDA가 9.0% 증가하여 4,240만 달러, 희석 주당순이익이 33.9% 증가하여 0.75달러에 달했습니다.
2025년을 위해, 초기 몇 달의 날씨 문제에도 불구하고 Meritage는 상당한 성장을 예측하고 있습니다:
- 매출 성장: +3%에서 +5%
- 순이익 성장: +40%에서 +50%
- EBITDA 성장: +15%에서 +25%
- 희석 주당순이익 성장: +30%에서 +40%
회사는 자동 드라이브 스루 주문을 위한 Wendy's Fresh AI를 구현하고 있으며, 2025년에 3-5개의 새로운 Morning Belle 매장을 확장할 계획입니다.
Meritage Hospitality Group (OTCQX: MHGU) a annoncé des résultats financiers mitigés pour le quatrième trimestre et l'année entière 2024. Les points forts du Q4 comprennent : des ventes en hausse de 0,5 % à 168,7 millions de dollars, un bénéfice net en hausse de 227 % à 5,2 millions de dollars et un EBITDA en hausse de 40,8 % à 13,7 millions de dollars.
La performance pour l'année complète 2024 a montré : des ventes en légère baisse à 668,8 millions de dollars contre 672,5 millions de dollars, des bénéfices nets en hausse de 33,1 % à 8,0 millions de dollars, une croissance de l'EBITDA de 9,0 % à 42,4 millions de dollars et une augmentation de l'EPS dilué de 33,9 % à 0,75 dollar.
Pour 2025, malgré les défis météorologiques dans les premiers mois, Meritage prévoit une croissance substantielle :
- Croissance des ventes : +3 % à +5 %
- Croissance des bénéfices nets : +40 % à +50 %
- Croissance de l'EBITDA : +15 % à +25 %
- Croissance de l'EPS dilué : +30 % à +40 %
L'entreprise met en œuvre Wendy's Fresh AI pour les commandes automatisées au drive-thru et prévoit d'étendre avec 3 à 5 nouveaux emplacements de Morning Belle en 2025.
Meritage Hospitality Group (OTCQX: MHGU) berichtete über gemischte Finanzergebnisse für das 4. Quartal und das gesamte Jahr 2024. Die Höhepunkte des Q4 umfassen: Umsatzsteigerung um 0,5% auf 168,7 Millionen Dollar, Nettogewinn, der um 227% auf 5,2 Millionen Dollar anstieg, und EBITDA, das um 40,8% auf 13,7 Millionen Dollar zunahm.
Die Leistung für das gesamte Jahr 2024 zeigte: Umsatz leicht gesunken auf 668,8 Millionen Dollar von 672,5 Millionen Dollar, Nettogewinn um 33,1% auf 8,0 Millionen Dollar gestiegen, EBITDA-Wachstum von 9,0% auf 42,4 Millionen Dollar und Anstieg des verwässerten EPS um 33,9% auf 0,75 Dollar.
Für 2025, trotz wetterbedingter Herausforderungen in den ersten Monaten, prognostiziert Meritage ein erhebliches Wachstum:
- Umsatzwachstum: +3% bis +5%
- Nettogewinnwachstum: +40% bis +50%
- EBITDA-Wachstum: +15% bis +25%
- Wachstum des verwässerten EPS: +30% bis +40%
Das Unternehmen implementiert Wendy's Fresh AI für automatisierte Bestellungen im Drive-Thru und plant die Erweiterung um 3-5 neue Morning Belle Standorte im Jahr 2025.
- Q4 net income up 227% to $5.2M
- Full-year net earnings increased 33.1% to $8.0M
- 2024 EBITDA grew 9.0% to $42.4M
- Diluted EPS up 33.9% to $0.75
- Strong 2025 guidance: 40-50% net earnings growth
- Implementation of AI drive-thru technology
- Q4 2024 Operations loss of $0.1M vs $4.8M profit last year
- 2024 full-year sales declined to $668.8M from $672.5M
- 2024 earnings from operations dropped to $10.9M from $17.8M
- Weather disruptions affecting early 2025 performance
GRAND RAPIDS, Mich., March 07, 2025 (GLOBE NEWSWIRE) -- Meritage Hospitality Group Inc. (OTCQX: MHGU), one of the nation’s premier franchise restaurant operators, today reported financial results for the fourth quarter and fiscal year ended December 29, 2024.
2024 Fourth Quarter Highlights:
- Sales increased
0.5% to$168.7 million compared to sales of$167.9 million for the same period last year. - Earnings (Loss) from Operations were
$(0.1) million compared to$4.8 million for the same period last year. - Net Income increased
227% to$5.2 million compared to$1.6 million for the same period last year. - Consolidated EBITDA (a non-GAAP measure) increased
40.8% to$13.7 million compared to$9.7 million for the same period last year.
2024 Full-Year Highlights:
- Sales were
$668.8 million compared to$672.5 million last year. - Earnings from Operations were
$10.9 million compared to$17.8 million last year. - Net Earnings increased
33.1% to$8.0 million compared to$6.0 million last year. - Consolidated EBITDA (a non-GAAP measure) increased
9.0% to$42.4 million compared to$38.9 million last year. - Diluted EPS increased
33.9% to$0.75 per share compared to$0.56 per share last year.
Current year earnings from operations include non-recurring losses from non-Wendy’s restaurant operations as well as related closings and dispositions.
“Looking forward, new Wendy’s restaurants and reworked locations continued to drive strong returns on investment, highlighting the strength of new development in the Wendy’s restaurant brand. Our restaurant operations and real estate development teams continue to execute best-in-class standards, supported by a robust operating and technology platform. We have a strong development pipeline of new locations planned throughout 2025, including 3-5 new Morning Belle locations, the Company’s growing single shift, breakfast/brunch concept.” stated Meritage CEO, Robert E. Schermer, Jr.
The Company is forecasting substantial earnings growth potential for fiscal 2025, despite an unusual January and February that was dominated with inclement weather, particularly in our southern markets which resulted in temporary closures from record snow, ice and floods. With the first two months of winter weather behind us, restaurant sales are returning to their normalized state and we forecast
As we move through the remainder of the year, we anticipate Wendy’s restaurant-level earnings growth will be driven by an exciting new line-up of products and menu innovations, as well as continued margin improvements. The Company is in the process of rolling out its first test of Wendy’s Fresh AI – the generative AI technology that brings a digital automated drive-thru ordering experience to the customer. The Company is committed to leveraging technology and delivery options designed to improve customer experience and employee efficiency in the restaurants.
2025 Full-Year Outlook: Accelerating Earnings Growth:
- Sales growth of +
3% to +5% - Earnings from Operations growth of +
40% to +50% - Net Earnings growth of +
40% to +50% - EBITDA growth of +
15% to +25% - Diluted EPS growth of +
30% to +40%
The Company’s strategic priorities are focused on developing a culture of leadership, leveraging our operating platform and unique in-house development expertise to deliver consumers the highest level of quality, convenience, and affordability. As we plan for the next generation of franchise platform growth, the Company remains actively engaged in expanding its strategic partnerships and exploring shareholder liquidity opportunities.
About the Company:
Meritage Hospitality Group is one of the nation’s premier restaurant operators, with 379 restaurants in operation located in Arkansas, Connecticut, Florida, Georgia, Indiana, Massachusetts, Michigan, Missouri, Mississippi, North Carolina, Ohio, Oklahoma, Tennessee, Texas and Virginia. Meritage is headquartered in Grand Rapids, Michigan, operating with a workforce of approximately 12,000 employees. At fiscal year-end 2024, the Company had total diluted weighted average common shares outstanding of 8,520,095 shares.
The Company’s current and publicly available information pursuant to amended SEC Rule 15c2-11 and FINRA Rule 6432 can be found at www.otcmarkets.com, under the stock symbol MHGU/Disclosures or the Company’s website, www.meritagehospitality.com.
SAFE HARBOR STATEMENT
Certain information in this new release, particularly information regarding future economic performance and finances, and plans, expectations and objectives of management, constitutes forward-looking statements. Factors set forth in our Safe Harbor Statement, in addition to other possible factors not listed, could affect the Company’s actual results and cause such results to differ materially from those expressed in forward-looking statements. Please review the Company’s Safe Harbor Statement at http://www.meritagehospitality.com.
CONTACT:
Robert E. Schermer, Jr., CEO
Meritage Hospitality Group Inc.
(616) 776-2600
FAQ
What is Meritage Hospitality Group's (MHGU) projected EPS growth for 2025?
How did MHGU's Q4 2024 net income perform compared to previous year?
What are MHGU's sales growth projections for 2025?
How many new Morning Belle restaurants is MHGU planning to open in 2025?
What was Meritage Hospitality Group's (MHGU) full-year EBITDA for 2024?
