Q: Q: Hi, Could you please comment on MTY earnings. Thank you
5i Research Answer:
EPS of ($2.34) missed estimates of 67c; revenue of $284M beat estimates of $272M. EBITDA of $59.4M matched estimates. The dividend was raised 18%. Revenue rose 1.6%. EBITDA fell 2.6%. The loss stems from a $65M impairment charge on Papa Murphy's due to weak growth and weak expected growth. Net store additions were 13. Same store sales were flat. Not too much to get excited about here, other than the dividend bump, and valuation (low at 10X earnings).