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Earnings

A&W FOOD SERVICES OF CANADA INC. ANNOUNCES FOURTH QUARTER AND FISCAL 2025 RESULTS AND DECLARES QUARTERLY CASH DIVIDEND

By The Northwire Desk — AI Analysis Mar 05, 2026 · 07:00 AW · 37.64 A&W FOOD SERVICES OF CANADA INC COMMON S
AW · Price

Executive Summary

  • A&W Food Services of Canada reported FY 2025 revenue of C$294.1 M (up 1 %), system sales of C$1.92 B (+2.8 %) and net income of C$56.8 M, delivering a material‑positive earnings surprise versus FY 2024.
  • Adjusted EBITDA reached C$100.0 M for the fiscal year (↑7 %) with an adjusted EBITDA margin of 34.0 % (up 200 bps).
  • The Board declared a quarterly cash dividend of C$0.480 per share (total C$1.92 per share for FY 2025) and provided FY 2026 guidance indicating continued growth in system sales, same‑store sales and EBITDA.

Key Details

  • Q4 2025 Highlights (vs. Q4 2024)
  • System Sales: C$591.4 M (+2.5 %)
  • Revenue: C$93.0 M (flat)
  • Income before tax: C$23.4 M (+12 %)
  • Adjusted EBITDA: C$29.3 M (+5 %); margin 31.5 % (↑150 bps)
  • General & administrative expenses: C$16.9 M (+12 %)

  • Cash dividend declared: C$0.480 per share (Dec 1, 2025)

  • Fiscal 2025 Highlights (vs. FY 2024)

  • System Sales: C$1.92 B (+2.8 %)
  • Total revenue: C$294.1 M (+1 %)
  • Income before tax: C$76.7 M (+53 %)
  • Net income: C$56.8 M (↑162 %) – net income per share $2.30 vs. $0.95 FY 2024
  • Adjusted EBITDA: C$100.0 M (+7 %); margin 34.0 % (↑200 bps)
  • General & administrative expenses: C$49.7 M (+2 %) – CPI‑aligned increase

  • Cash dividends totalled C$1.92 per share for FY 2025

  • Restaurant Operations

  • Opened 26 new A&W restaurants in FY 2025 (net unit growth 2.0 %).

  • End‑year restaurant count: 1,094 (up from 1,073).

  • Transaction Impact

  • Completion of the October 2024 acquisition of A&W trademarks eliminated royalty expense and associated income/expense items, making Q4 2025 results not directly comparable to Q4 2024.

  • FY 2026 Outlook (Guidance)

  • Adjusted EBITDA: C$103‑105 M (vs. FY 2025 actual $100 M)
  • Restaurant count end‑year: 1,112‑1,120 (up from 1,094)
  • System Sales Growth: 2.5‑5.0 % (FY 2025 actual 2.8 %)

  • Same‑Store Sales Growth: 0.5‑3.0 % (FY 2025 actual 1.2 %)

  • Conference Call – Thursday, March 5 2026 at 1:00 p.m. PT / 4:00 p.m. ET; webcast link provided.

Notable Quotes

“In Fiscal 2025 we were able to deliver positive Same Store Sales Growth in all four quarters, open 26 new A&W restaurants and meet our annual guidance,” – Susan Senecal, CEO.

All non‑material boilerplate, forward‑looking risk disclosures, and investor relations footnotes have been omitted for brevity.

Read the original news release →

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Earnings