Meritage Reports Full-Year 2019 Preliminary Results; 2020 Outlook 140 0 Kommentare Robust Growth Ahead - Seite 2

Fourth Quarter 2019 Highlights:

Sales increased 12.5% to $121.2 million compared to sales of $107.8 million for the same period last year.
Earnings from Operations were $3.6 million compared to $6.0 million for the same period last year.
Net Income was $2.4 million compared to $2.4 million for the same period last year.
Consolidated EBITDA (a non-GAAP measure) was $9.4 million compared to $10.1 million last year.

Meritage plans to continue its focus on Wendy’s capital investment and brand initiatives in 2020 with up to 18 new-build locations and 24 modernizations across sixteen states of operations.

Company 2020 Full-Year Financial Outlook: Robust Growth Ahead

Sales growth of +20%-25%
Earnings from Operations growth of +20%-25%
Net Earnings growth of +15%-20%
EBITDA growth of +15% to 20%
Dividend growth +17%- 33%

Meritage continues to distinguish itself as a leader and innovator in the QSR and Family Restaurant segments, striving for best in class results through a performance-based and employee-centric culture committed to operational excellence, strategic acquisitions and real estate development.

About Meritage
Meritage Hospitality Group is one of the nation’s premier restaurant operators, currently with 337 restaurants in operation located in Arkansas, Connecticut, Florida, Georgia, Indiana, Massachusetts, Michigan, Missouri, Mississippi, North Carolina, South Carolina, Ohio, Oklahoma, Tennessee, Texas and Virginia. Meritage is headquartered in Grand Rapids, Michigan, operating with a workforce of approximately 11,000 employees. At Fiscal year end the 2019 the Company had, total weighted avg. fully diluted common shares outstanding of 9,033,570 and Fully Diluted EPS of $1.27.

The Company’s current and publically available information as required under 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.