Financials - April 2025
MTY Reports First Quarter Results for Fiscal 2025
April 11, 2025 06:00 ET
Normalized adjusted EBITDA(1) increased 1% to reach $60.2 million in the quarter, compared to $59.5 million in Q1-24. Franchise segment Normalized adjusted EBITDA(1) rose 1% to attain $44.0 million, or 47% of sales.
System sales(2) for the quarter improved by 2.5% or $33.1 million to reach $1,364.8 million compared to $1,331.7 million in Q1-24 primarily due to favourable foreign exchange.
Cash flows provided by operating activities were $58.8 million compared to $54.2 million in Q1-24, an increase of $4.6 million mostly due to a decrease in interest paid on long-term debt.
Free cash flows net of lease payments(1) increased to $43.5 million in the quarter compared to $36.9 million in Q1-24. Free cash flows net of lease payments per diluted share(3) were $1.87 for the quarter compared to $1.52 in Q1-24.
Net income attributable to owners of $1.7 million, or $0.07 per diluted share compared to 17.3 million, or 0.71 per diluted share in Q1-24.
Adjusted earnings per shares(1) of $0.87 per diluted share compared to $0.69 in Q1-24.
Repurchased and cancelled 287,400 shares for a consideration of $13.8 million.
Quarterly dividend payment of $0.33 per share on May 15, 2025.
(1) This is a non-GAAP measure. Please refer to the “Non-GAAP Measures” section at the end of this press release.
(2) See section “Definition of supplementary financial measures” found at the end of this press release.
(3) See section “Definition of non-GAAP ratios” found in the Supplemental Information section for definition.
MONTREAL, April 11, 2025 (GLOBE NEWSWIRE) -- MTY Food Group Inc. (“MTY”, “MTY Group” or the “Company”) (TSX: MTY), one of the largest franchisors and operators of multiple restaurant concepts worldwide, reported today financial results for its first quarter of fiscal 2025 ended February 28, 2025 and declared a quarterly dividend of 33.0¢ per share, payable on May 15, 2025 to shareholders registered in the Company’s records at the end of the business day on May 1, 2025.
"Our same-store sales held relatively stable, once adjusted for the leap year impact — demonstrating the strength and resilience of our portfolio,” said Eric Lefebvre, CEO of MTY. “While adverse weather conditions temporarily pressured performance, particularly in our US frozen treats segment, the start of Q2 signals a return to more normal operating conditions. Canada continues to perform consistently, underscoring the stability of our operations.”
"I believe this quarter’s modest decline in unit count is a temporary setback, rather than a trend,” Lefebvre continued. “Delays in openings are challenges we consistently navigate, particularly in Q1, which has historically been our slowest quarter for net openings. Our development pipeline for Q2, Q3 and beyond is robust, and we remain fully committed to expanding our footprint over the medium to long term.”
"Once again, this quarter showcased our ability to generate strong free cash flow growth, reinforcing the financial strength and asset light nature our business. While we remain disciplined in evaluating strategic acquisition opportunities that align with our long-term vision, we continue to see significant value in share repurchases at current levels as a highly accretive use of capital,” Lefebvre noted.
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Kura Sushi USA Announces Fiscal Second Quarter 2025 Financial Results
April 08, 2025 16:05 ET
IRVINE, Calif., April 08, 2025 (GLOBE NEWSWIRE) -- Kura Sushi USA, Inc. (“Kura Sushi” or the “Company”) (NASDAQ: KRUS), a technology-enabled Japanese restaurant concept, today announced financial results for the fiscal second quarter ended February 28, 2025.
Fiscal Second Quarter 2025 Highlights
Total sales were $64.9 million, compared to $57.3 million in the second quarter of 2024;
Comparable restaurant sales decreased 5.3% for the second quarter of 2025 as compared to the second quarter of 2024;
Operating loss was $4.6 million, compared to an operating loss of $1.7 million in the second quarter of 2024;
Net loss was $3.8 million, or $(0.31) per diluted share, compared to net loss of $1.0 million, or $(0.09) per diluted share, in the second quarter of 2024;
Adjusted net loss* was $1.7 million, or $(0.14) per diluted share, compared to an adjusted net loss of $1.0 million or $(0.09) per diluted share, in the second quarter of 2024;
Restaurant-level operating profit* was $11.2 million, or 17.3% of sales;
Adjusted EBITDA* was $2.7 million; and
Three new restaurants opened during the fiscal second quarter of 2025.
*Adjusted net loss, Restaurant-level operating profit and Adjusted EBITDA are non-GAAP measures and are defined below under “Key Financial Definitions.” Please see the reconciliation of non-GAAP measures accompanying this release. See also “Non-GAAP Financial Measures” below.
Hajime Uba, President and Chief Executive Officer of Kura Sushi, stated, “We had a very productive second quarter, making headway on the new market opportunities represented by our success in Bakersfield, building out our IP pipeline, and beginning testing or rollout of several systems projects that have long been in development. New restaurant openings are going exceptionally smoothly, with 11 units opened to-date and another six under construction. While the inclement weather was an unexpected sales pressure, we’re pleased overall with the quarter due to the great progress we’ve made across our initiatives.”
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Hooters Inc. and Hoot Owl Restaurants LLC, Two Leading Hooters Franchisees, Reach Historic Transaction with Hooters of America
Mar 31, 2025, 20:21 ET
CLEARWATER, Fla., March 31, 2025 /PRNewswire/ -- Hooters Inc., in partnership with another successful Hooters franchisee, Hoot Owl Restaurants LLC (together, the "Buyer Group"), has reached an agreement in principle with Hooters of America, LLC and certain of its affiliates (collectively, "HOA" or the "Company") to acquire over 100 HOA-owned Hooters restaurants. In addition, the parties have negotiated the key terms of a management agreement under which Hooters Brand Management, LLC ("HBM"), an entity owned by the Buyer Group and other parties with deep experience with the Hooters brand, will provide the majority of the franchise support functions on behalf of HOA.
The Buying Group is comprised of existing Hooters franchisees, including the original Hooters founders, who collectively currently own and operate over 30% of the domestic franchised Hooters locations. These highly experienced operators currently operate 14 of the 30 highest volume Hooters restaurants and in 2024 realized average restaurant revenue that are over double those of the HOA-owned restaurants. By transferring over 100 Company-owned restaurants to a group of operators who have each been in the Hooters system for over 30 years, HOA will be able to greatly simplify its existing business while also putting these stores in the hands of the best possible operators to maximize their future success. All existing Hooters franchise locations, including those restaurants located outside the U.S., will continue to be operated by the Company's franchise and license partners.
In conjunction with the sale and to further streamline HOA's business, HBM has also negotiated the key terms of a management agreement with HOA under which HBM will assume most of the franchise support obligations of Hooters, including oversight of the national ad fund, the central purchasing organization, franchise development and support and other key franchise functions. This is a critical step in simplifying HOA's business, returning the Hooters brand operations and restaurants to the most experienced and successful Hooters franchisees and best positioning the Hooters brand for long-term success. Upon completion of these transactions, the Buyer Group will own and operate approximately 70% of Hooters' domestic locations.
"For many years now, the Hooters brand has been owned by private equity firms and other groups with no history or experience with the Hooters brand," said Neil Kiefer, CEO of Hooters Inc. "As a result of these transactions, the Hooters brand will once again be in the hands of highly experienced Hooters franchisees and we will be well-positioned to return this iconic brand to its historic success. On behalf of all Hooters employees, customers and franchisees, the Buyer Group is excited and optimistic about our future plans for the Hooters brand".
The Buying Group is being represented by North Point Mergers & Acquisitions and Morrison & Foerster LLP is serving as their legal counsel.
About Hooters Inc.
Hooters Inc., founders of the Hooters concept, own and operate 22 Hooters Restaurants in Tampa Bay and Chicagoland and two Hoots locations in Chicagoland. For over 40 years, the Original Hooters group has been America's oasis known for its World Famous Chicken Wings, fun atmosphere, and legendary service from the iconic Hooters Girls. For more information about Hooters Inc. please visit www.originalhooters.com or follow them on Twitter @originalhooters, Instagram @originalhooters and Facebook https://www.facebook.com/originalhooters.
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Barfresh Provides Fourth Quarter and Full Year 2024 Results and Business Update
March 27, 2025 16:05 ET
Company Achieves Highest Fiscal Year Revenue in Company History
Revenue of $10.7 Million, Gross Margin of 34% and Adjusted Gross Margin of 37% for Fiscal Year 2024
Pop & Go™ 100% Juice Freeze Pops Launched with Initial Revenue Generation in Fourth Quarter 2024
Company Raises $3 Million in Profitable Growth Financing; Financing to Accelerate Manufacturing and Market Expansion
Company Expects Record Revenue for Fiscal Year 2025 of $14.5 Million to $16.6 Million
LOS ANGELES, March 27, 2025 (GLOBE NEWSWIRE) -- Barfresh Food Group Inc. (the “Company” or “Barfresh”) (Nasdaq: BRFH), a provider of frozen, ready-to-blend and ready-to-drink beverages, is providing a business update for the full year ended December 31, 2024.
Management Comments
Riccardo Delle Coste, the Company’s Chief Executive Officer, stated, “Our team delivered record annual revenue of $10.7 million in 2024, and we began generating initial revenue from Pop & Go™ 100% Juice Freeze Pops in the fourth quarter. We've secured an impressive string of new customer wins in the education channel as our product portfolio continues to resonate strongly with both school administrators and students alike. While fourth quarter results were impacted by costs associated with onboarding new co-manufacturers, temporary production inefficiencies and increased logistics costs as we maximized output to meet growing demand, we expect these headwinds to resolve by the end of the second quarter when our bottle co-manufacturing partners complete their equipment installations and we are positioned to meaningfully increase our bottling production.”
“Looking ahead to 2025, with our recently strengthened balance sheet following our successful capital raise, we are well-positioned to leverage our enhanced production capacity and innovative product portfolio to capture significant opportunities in both the education and broader foodservice markets and improve cash flow and overall margins. Based on our strong pipeline and continued market momentum, we expect 2025 to deliver another record year with revenue projected to reach between $14.5 million and $16.6 million, depending on the outcome of end-user opportunities at later stages in our sales pipeline. With our strengthened manufacturing infrastructure and proven ability to scale, I am more confident than ever in our ability to deliver long-term value for our shareholders.”
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Darden Restaurants Reports Fiscal 2025 Third Quarter Results; Declares Quarterly Dividend; And Updates Fiscal 2025 Financial Outlook
Mar 20, 2025, 07:00 ET
ORLANDO, Fla., March 20, 2025 /PRNewswire/ -- Darden Restaurants, Inc. (NYSE:DRI) today reported its financial results for the third quarter ended February 23, 2025.
Third Quarter 2025 Financial Highlights, Comparisons Versus Same Fiscal Quarter Last Year
Total sales increased 6.2% to $3.2 billion, driven by a blended same-restaurant sales* increase of 0.7% and sales from the acquisition of 103 Chuy's restaurants and 40 net new restaurants
Same-restaurant sales:
Reported diluted net earnings per share from continuing operations were $2.74
Excluding $0.06 of Chuy's transaction and integration related costs, adjusted diluted net earnings per share from continuing operations were $2.80, an increase of 6.9%**
The Company repurchased $53 million of its outstanding common stock
* Will not include Chuy's until they have been owned and operated by Darden for a 16-month period (Q4 Fiscal 2026)
** See the "Non-GAAP Information" below for more details
"We had a solid quarter, and I am proud of how our teams managed their business and controlled what they could control," said Darden President & CEO Rick Cardenas. "All of our segments grew total sales and segment profit margin, while several brands set sales records during the holidays and on Valentine's Day, reinforcing the strength of our portfolio and the loyalty of our guests. Our ability to deliver profitable sales growth in a challenging environment is a testament to the strength of our business model and adherence to our proven strategy."
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