Meritage Reports Second Quarter 2025 Results; New Products & Innovation Cycle Ahead
Second Quarter 2025 Highlights Sales were $163.5 million compared to $172.4 million for the same period last year.
Earnings from Operations were $3.0 million compared to $6.7 million for the same period last year.
Net Earnings were $0.335 million compared to $3.0 million for the same period last year.
Consolidated EBITDA (a non-GAAP measure) was $7.5 million compared to $12.5 million for the same period last year.
'Our second quarter results reflect broader industry dynamics, including shifts in consumer behavior and intensified promotional activity across QSR. While mindful of the macroeconomic environment, we are energized by recent Wendy's leadership changes and fully aligned behind a strategic roadmap focused on knowing our customers better and reaching them more effectively, reducing programming complexity and increasing focus and strong collaboration. These initiatives are designed to unlock greater agility and long-term profitable growth for the brand,' stated Robert E. Schermer, Jr., the Company's CEO.
Morning Belle
Morning Belle, the Company's proprietary daytime-only concept, serving Breakfast, Brunch and Lunch, reported a same store sales increase of +16.9% in the second quarter as compared to last year. The strong sales growth was driven by seasonal menu introductions, new beverage line up, core-product innovations and higher guest frequency.
Six-Month 2025 Highlights Sales for the six months were $318.1 million compared to sales of $335.2 million for the same period last year.
Earnings (Loss) from Operations were $(0.7) million compared to $10.6 million for the same period last year.
Net Earnings (Loss) were to $(4.0) million compared to $4.6 million for the same period last year.
Consolidated EBITDA (a non-GAAP measure) was $9.7 million compared to $22.4 million for the same period last year.
Meritage continues to strive for best-in-class operations through a performance-based culture committed to operational excellence, strategic acquisitions, and real estate development. The Company continues to explore strategic opportunities to maximize shareholder value and provide liquidity.
About the Company
Meritage Hospitality Group is one of the nation's premier restaurant operators, currently with 381 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. As of June 29, 2025, the Company had fully diluted weighted average common shares outstanding of 6,694,304.
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 news 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., CEOMeritage Hospitality Group Inc.
616-776-2600 ext. 1012
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