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MTY REPORTS SECOND QUARTER RESULTS FOR FISCAL 2023 AND DECLARES ITS QUARTERLY DIVIDEND
MTY REPORTS SECOND QUARTER RESULTS FOR FISCAL 2023 AND DECLARES ITS QUARTERLY DIVIDEND ...
About this update from Mty Food Group Inc.
[{"type":"text","content":"\n \n \n \n MTY REPORTS SECOND QUARTER RESULTS FOR FISCAL 2023 AND DECLARES ITS QUARTERLY DIVIDEND\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen4{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: CENTER; BORDER-TOP:black 0.5pt solid; BORDER-RIGHT:black 0.5pt solid; BORDER-BOTTOM:black 0.5pt solid; BORDER-LEFT:black 0.5pt solid\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0.5pt solid; BORDER-RIGHT:black 0.5pt solid; BORDER-BOTTOM:black 0.5pt solid; BORDER-LEFT:black 0.5pt solid\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Normalized adjusted EBITDA\n \n (1)\n \n increased 57% to\n \n $74.6 million\n \n in the quarter compared to\n \n $47.6 million\n \n in Q2-22.\n \n \n \n \n Free cash flows\n \n (1)\n \n increased 78% to\n \n $45.1 million\n \n in the quarter compared to\n \n $25.3 million\n \n in Q2-22. Free cash flows per diluted share\n \n (2)\n \n reached\n \n $1.84\n \n .\n \n \n \n \n Same-store sales\n \n (3)\n \n were positive in all geographical segments compared to Q2-22:\n \n Canada\n \n up by 6%, US by 4% and International by 2%.\n \n \n \n \n System sales\n \n (3)\n \n reached an all-time record high of\n \n $1.5 billion\n \n in the quarter, up 39% compared to Q2-22. System sales up 63% in the US, 18% Internationally and 7% in\n \n Canada\n \n .\n \n \n \n \n Net income attributable to owners of\n \n $30.4 million\n \n in the quarter, or\n \n $1.24\n \n per diluted share, compared to\n \n $28.6 million\n \n , or\n \n $1.17\n \n per diluted share, in Q2-22.\n \n \n \n \n During the quarter, the Company's network opened 73 locations compared to 47 locations in Q2-22, and closed 77 locations compared to 91 locations in Q2-22.\n \n \n \n \n As at\n \n May 31, 20...