MTY Food Group Inc. Earnings Recaps
Q1 2026
Apr 10, 2026
MTY Food Group delivered a resilient first quarter amid challenging macroeconomic conditions, with modest decline in same-store sales offset by digital growth and a robust new store pipeline. Confidence remains high for 2026 net location growth driven by experienced franchisee expansion.
Key takeaways
- Same-store sales declined 2.5% overall, with Canada down 0.8% and U.S. up 3.6%; early Q2 data shows signs of sequential improvement.
- Digital sales maintained steady at 23%, growing 3% excluding FX; Canadian digital sales rose 13%, indicating successful digital experience enhancements.
- Net store count saw a reduction, but a strong pipeline of nearly 200 stores under construction and increased franchisee-led expansion bode well for 2026 growth.
- Normalized EBITDA remained stable at $60.1 million; franchise EBITDA margin improved modestly to 48%.
- Net income attributable to owners was $36.9 million ($1.62/share), with free cash flow supporting debt reduction and future investments.