MTY Food Group (MTY.TO) Announces The Financial Results For Second Quarter 2021

The stock of MTY Food Group (MTY.TO) declined significantly from C$58.15 on June 14 to C$54.76 on June 17. Next, the price fluctuated during 25 days between C$56.20 and C$54.26 from June 17 to July 18. Despite this, the price of MTY Food Group remarkably increased from C$54.26 to C$68.17 on July 12. During one month the peak of stock MTY Food Group was C$68.17 and the lowest was C$54.26.On July 9, MTY Food Group (MTY.TO), one of the world’s biggest franchisors and operators of several restaurant concepts released its second-quarter financial results on May 31, 2021. Cash flows from operations grew 54 % to $29.5 million in the second quarter of this year, compared to $19.2 million the previous year. Revenues increased by 39%, from $97.8 million to $135.8 million, owing mostly to the impact of government limitations connected to the COVID-19 epidemic, which was more severe in the previous period.

Related:  Is It Safe to Invest in Rising Wesfarmers' (WES.AX) Shares ?

Adjusted EBITDA climbed by 139% to $43.5 million in the second quarter of this year, compared to $18.2 million the previous year. The key reason for the improvement is the severe negative effects of the COVID-19 pandemic, which began in the second quarter of last year. In the same quarter previous year, operating earnings attributable to shareholders was $23.0 million, or $0.93 per share ($0.93 per diluted share), compared to a net loss of $99.1 million, or $4.01 per share ($4.01 per diluted share).

Jack Dawkins

Finance and Tech Contributor

Want Hot Stocks?    Yes. I Love Them No thanks