Core Viewpoint - MTY Food Group Inc. reported its financial results for Q3 2025, showing resilience in its larger brands despite ongoing macroeconomic volatility, and declared a quarterly dividend of 33.0¢ per share [2][3][24] Financial Highlights - Revenue for Q3 2025 was $296.99 million, a 1% increase from $292.75 million in Q3 2024 [3][4] - Adjusted EBITDA for Q3 2025 was $73.20 million, compared to $71.78 million in Q3 2024, reflecting a 2% increase [4][11] - Net income attributable to owners decreased to $27.88 million, or $1.22 per diluted share, down from $34.89 million, or $1.46 per diluted share in Q3 2024 [4][5] - Cash flows from operations were $39.01 million, a decrease from $66.36 million in Q3 2024, primarily due to timing of collections and higher income taxes [4][22] - Free cash flows net of lease payments were $25.82 million, down from $49.27 million in Q3 2024 [20] Segment Performance - The franchise segment revenues decreased by 2% to $100.8 million, while corporate segment revenues also decreased by 2% to $118.5 million [16] - Food processing, distribution, and retail revenues grew by 18% to $47.6 million, driven by a 29% rise in retail sales [16] - Normalized adjusted EBITDA for the franchise segment was $56.0 million, a decrease from $57.4 million in the prior year [16] Store Openings and Sales - MTY had a net positive store growth of 15 locations in Q3 2025, ending the quarter with 7,061 locations [4][11] - System sales for the quarter were steady at $1.46 billion, with same-store sales decreasing by 1.6% year-over-year [4][11] Digital Sales - Digital sales increased by 1% to $273.4 million compared to $270.7 million in Q3 2024, mainly due to an 8% improvement in the Canadian segment [11][16] Debt and Liquidity - Long-term debt repayments for the quarter amounted to $30.4 million, with total long-term debt at $638.9 million as of August 31, 2025 [22] - The company had $37.1 million in cash on hand and a revolving credit facility of $900 million, with CAD$253 million and US$281 million drawn at quarter-end [22] Outlook - The company anticipates continued improvement in store openings and remains focused on strategic initiatives to drive growth despite macroeconomic challenges [21][28]