MTY Food Group Reports First Quarter 2026 Financial Results

MTY Food Group Inc. has released its financial results for the first quarter of fiscal 2026, ending March 1, 2026. The company reported a net income attributable to owners of $36.9 million, or $1.62 per diluted share, a substantial increase from $1.7 million, or $0.07 per diluted share, in the prior year's quarter. Segment profits rose by 2% to $59.8 million.

Cash flows from operating activities for the quarter were $40.9 million, down from $64.6 million in Q1 2025. The company significantly increased its long-term debt repayments, which more than doubled compared to the same period last year. Total revenue saw a decrease of 6% to $267.8 million, compared to $284.8 million in the first quarter of fiscal 2025. Same-store sales declined by 2.5% during the quarter.

MTY Food Group CEO Eric Lefebvre commented on the results, stating that the company's diversified model continues to demonstrate a strong cash flow profile despite economic headwinds. He noted that consumer sentiment was depressed, but showed early signs of improvement in March. Lefebvre emphasized the company's cost discipline and strategic investments aimed at strengthening its position for a future consumer rebound.

The company also declared a quarterly dividend of $0.37 per share, payable on May 15, 2026. At the end of the quarter, MTY's network comprised 7,034 locations, overwhelmingly operating under franchise agreements. Canadian operations demonstrated greater resilience than those in the US and international markets during the period.