MTY Food Group reports Q2 EPS C$2.49 vs. C$1.13 last year

Reports Q2 revenue C$304.9M vs. C$303.7M last year. “From a same-store sales standpoint, the second quarter reflected a tale of two geographies. In the U.S., what began as volatility in Q1 evolved into broader macroeconomic pressure in Q2, which impacted both traffic and average check across much of our network. That said, Village Inn stood out as a bright spot, and we’re actively rolling out initiatives aimed at reinvigorating the guest experience across our key banners,” said Eric Lefebvre, CEO. “We believe these are near-term challenges, and we’re confident that the steps we’re taking will position us well as the environment improves. In contrast, Canada continued to shine, with strong momentum driving solid results, particularly in the casual dining segment. This strength underscores the value of our diversified platform and the resilience of our brands in varied market conditions.” While we’re not satisfied with the year-over-year EBITDA performance this quarter, it’s important to note that the impact was primarily concentrated within our Corporate segment, with our Franchise and Retail segments performing better,” Lefebvre continued. “The softness in the Corporate segment was largely driven by some specific banners. We’re actively evaluating strategic options – ranging from accelerating our franchising efforts with one of the banners to implementing broader, transformative changes with the other. We’re confident that these initiatives will strengthen the segment and enhance long-term profitability.”