07:20 AM EDT, 04/11/2025 (MT Newswires) -- MTY Foods (MTY.TO) on Friday reported higher first-quarter earnings and revenue that beat estimates.

Net earnings per diluted share, adjusted for one most one-time items rose to $0.87, from $0.69 in the prior year period. The result beat the consensus analyst estimate of $0.85, according to Capital IQ.

Revenue increased to $285 million, from $279 million, beating the $275.6 million forecast. The increase was driven by strong performance in the corporate segment, both in Canada and the US. Favourable foreign exchange also helped boost system sales by 2.5% to $1.36 billion, the company said.

Same-store sales decreased 1.5% in the first quarter, due to the fact that the 2024 leap year added an extra sales day.

"Our same-store sales held relatively stable, once adjusted for the leap year impact - demonstrating the strength and resilience of our portfolio," said Chief Executive Eric Lefebvre. "While adverse weather conditions temporarily pressured performance, particularly in our US frozen treats segment, the start of Q2 signals a return to more normal operating conditions. Canada continues to perform consistently, underscoring the stability of our operations."

MTY Foods will pay a quarterly dividend of $0.33 per share on May 15.