GRAND RAPIDS, Mich., Nov. 13, 2026 (GLOBE NEWSWIRE) -- Meritage Hospitality Group Inc. (OTCQX: MHGU), today reported financial results for the third quarter and nine months ended September 27, 2026.
2026 Third Quarter Highlights:
- Sales were $133.6 million compared to $154.6 million for the same period last year, which included approximately 70 fewer stores in operation.
- Net (Loss) from Operations was ($6.6) million compared to ($6.6) million for the same period last year. The third quarter of 2026 results included one-time professional fees charges of $2.4 million.
- Net (Loss) was ($7.7) million compared to ($9.0) million for the same period last year, representing an improvement of $1.3 million.
- Consolidated EBITDA (a non-GAAP measure) was a loss of ($2.9) million compared to ($4.3) million for the same period last year, representing an improvement of $1.4 million.
“The Company is undertaking a major restructuring of its business and improving store-level profitability, and we believe in the strength of the brand. Wendy’s has a great legacy with proven long-term resilience, and the new senior leadership team is acutely focused on accelerating product innovation, marketing and clear alignment between franchisees and the brand. Wendy’s CEO, Bob Wright, recently announced that breakfast will become optional for Wendy’s franchisees, which is intended to bolster franchisee profitability $200 million. We have taken many actions to optimize our Wendy’s portfolio and expect to see the full extent of these economic benefits realized at the store-level in 2027,” stated Meritage CEO, Robert E. Schermer, Jr.
Furthermore, the Wendy’s brand recently announced “Dave’s Way” which is intended to lead with an operation first turnaround to strengthen its foundation, enhance menu and marketing performance, and modernize how customers experience the brand. “Dave’s Way” is about igniting the energy and distinctiveness that have always made Wendy's special, while positioning the brand and its franchisees for profitable store-level growth as we move forward.
2026 Year-To-Date Highlights:
- Sales were $407.2 million compared to $472.7 million for the same period last year.
- Net (Loss) from Operations was ($31.5) million compared to ($7.3) million for the same period last year. The current year included one-time charges of $19.6 million related to one-time professional fees and closing and disposition costs.
- Net (Loss) was ($30.8) million compared to ($12.9) million for the same period last year.
- Consolidated EBITDA (a non-GAAP measure) was a loss of ($18.4) million compared to earnings of $5.4 million for the same period last year.
About Meritage:
Meritage Hospitality Group is one of the nation’s premier restaurant operating platforms, currently with 276 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 9,000 employees. As of the third quarter in 2026, the Company had total weighted average fully diluted common shares outstanding of approximately 7,112,000 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 MHGUQ/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
