Meritage Hospitality Group Inc. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2019; Provides Earnings Guidance for the Full Year of 2019
For the six months, the company's Sales increased 5.5% to $228.4 million compared to sales of $216.6 million for the same period last year. Earnings from Operations were $11.8 million compared to $13.1 million last year. Net Earnings increased 11.0% to $7.8 million compared to $7.1 million for the same period last year.
The company provided earnings guidance for the full year of 2019. For the period, the company expects sales growth of 10% to 20% and net earnings growth of 10% to 20%.