Meritage Hospitality Group (Meritage Hospitality Group) Interest Expense : $-11.9 Mil (TTM As of Dec. 2023)

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What is Meritage Hospitality Group Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Meritage Hospitality Group's interest expense for the three months ended in Dec. 2023 was $ -3.2 Mil. Its interest expense for the trailing twelve months (TTM) ended in Dec. 2023 was $-11.9 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Meritage Hospitality Group's Operating Income for the three months ended in Dec. 2023 was $ 6.0 Mil. Meritage Hospitality Group's Interest Expense for the three months ended in Dec. 2023 was $ -3.2 Mil. Meritage Hospitality Group's Interest Coverage for the quarter that ended in Dec. 2023 was 1.84. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Meritage Hospitality Group Interest Expense Historical Data

The historical data trend for Meritage Hospitality Group's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Meritage Hospitality Group Interest Expense Chart

Meritage Hospitality Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

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-12.34

-10.78

-7.75

-8.16

-11.94

Meritage Hospitality Group Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Expense	Get a 7-Day Free Trial															-2.52	-2.63	-2.92	-3.15	-3.23

Meritage Hospitality Group Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-11.9 Mil.

Meritage Hospitality Group (OTCPK:MHGU) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Meritage Hospitality Group's Interest Expense for the three months ended in Dec. 2023 was $-3.2 Mil. Its Operating Income for the three months ended in Dec. 2023 was $6.0 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Dec. 2023 was $541.2 Mil.

Meritage Hospitality Group's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	5.959	/	-3.232
	=	1.84

The higher the ratio, the stronger the company's financial strength is.

Meritage Hospitality Group (Meritage Hospitality Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Restaurants » Meritage Hospitality Group Inc (OTCPK:MHGU) » Definitions » Interest Expense

Comparable Companies

Traded in Other Exchanges

MHGUP.PFD:USA

Address

45 Ottawa Avenue SW, Suite 600, Grand Rapids, MI, USA, 49503

Website

http://www.meritagehospitality.com

Meritage Hospitality Group Inc is one of the nation's premier restaurant operators, with more than 300 restaurants in operation located in Arkansas, Connecticut, Florida, Georgia, Indiana, Massachusetts, Michigan, Missouri, Mississippi, North Carolina, South Carolina, Ohio, Oklahoma, Tennessee, Texas, and Virginia.

Executives

Duane F Kluting	director	3100 44TH STREET SW, GRANDVILLE MI 49418
Roger L Zingle	officer: Chief Operating Officer	6132 PICKWOOD DRIVE, WEST BLOOMFIELD MI 48322
Gary A Rose	officer: VP, CFO & Treasurer	223 EAST MT. GARFIELD ROAD, NORTON SHORES MI 49441
Robert E. Schermer Revocable Living Trust U/a Dated 4/28/97	10 percent owner	C/O ROBERT W. BAIRD & CO. INC., 333 BRIDGE STREET, N.W., SUITE 1000, GRAND RAPIDS MI 49504
Gulis Stephen L Jr	director	9341 COURTLAND DRIVE NE, ROCKFORD MI 49351
James R Saalfeld	officer: VP, Secretary and Treasurer	MERITAGE HOSPITALITY GROUP INC, 1971 EAST BELTLINE AVE, N.E., STE. 200, GRAND RAPIDS MI 49525
Robert H Potts	officer: Vice President of Real Estate	1971 EAST BELTLINE AVE NE, GRAND RAPIDS MI 49525
Schermer Robert E Jr	director, 10 percent owner, officer: Chief Executive Officer	1971 EAST BELTLINE AVE, N.E., SUITE 200, GRAND RAPIDS MI 49525
Robert E Riley	director, 10 percent owner, officer: President	40 PEARL STREET NW, SUITE 900, GRAND RAPIDS MI 49503
James P Bishop	director	4230 SOUTH WESTNEDGE, KALAMAZOO MI 49006
Schermer Robert E Sr	director, 10 percent owner, officer: Chairman of the Board	C/O ROBERT W BLAIR & CO. INC., 333 BRIDGE STREET, SUITE 1000, GRAND RAPIDS MI 49504
Joseph L Maggini	director	4242 CLAY STREET SW, GRAND RAPIDS MI 49548
Brian N Mcmahon	director	542 TONBRIDGE COURT, PERRYSBURG OH 43551