MTY Food Group Inc Q1 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Vishal Shreedhar - National Bank Financial, Inc., Research Division - Analyst : Just on the acquisition backdrop. I wanted to get henchman sense on how willing it is to close on acquisitions? Are we thinking about smaller ones? How should we think about that balance sheet? And where would leverage top out or management would feel that it's a level that they don't want to exceed, how should we think about all that?

Question: Vishal Shreedhar - National Bank Financial, Inc., Research Division - Analyst : And how about the acquisition backdrop? Is there anything that you're noticing changing? Is it -- are there still attractive deals out there?

Question: Vishal Shreedhar - National Bank Financial, Inc., Research Division - Analyst : Okay. And how would you characterize the backdrop right now? Obviously, results were strong in the quarter, and management gave us that color about its initiatives, flashing green. So it seems fairly constructive from what we're seeing, but just wondering if you could add any perspective to that.

Question: George Doumet - Scotiabank Global Banking and Markets, Research Division - Analyst : I just want to get your prognosis on the consumer in general. Maybe how that can relate to restaurant sales, I guess, given the higher inflation and recessionary concerns, it feels that everything internally is going really well, but maybe from a macro perspective, just kind of your view there.

Question: George Doumet - Scotiabank Global Banking and Markets, Research Division - Analyst : Okay. That's helpful. And on your earlier comments on the 40% AUV growth versus pre-pandemic. How much of that is pricing? And if you exclude Papa Murphy from that, like can you maybe call out some banners that you think saw the most -- more impressive growth?

Question: George Doumet - Scotiabank Global Banking and Markets, Research Division - Analyst : Okay. And the corporate restaurant saw EBITDA margins in the mid-9s this quarter. I'm just wondering, is there a room for continued improvement there? Maybe how should we see that margin evolving for the rest of the year? without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. APRIL 12, 2023 / 12:30PM, MTY.TO - Q1 2023 MTY Food Group Inc Earnings Call

Question: George Doumet - Scotiabank Global Banking and Markets, Research Division - Analyst : Okay. One last one for me, Eric, I feel like I always ask you this question, but Papa Murphy, how did they do in the quarter? And are you seeing at all maybe a pronounced slowdown at all or a slowdown in the takeout delivery part of that business?