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A & W Food Services of Canada (AW) investor relations material

A & W Food Services of Canada Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for A & W Food Services of Canada Inc
Q3 2025 earnings summary17 Oct, 2025

Executive summary

  • Achieved third consecutive quarter of positive same store sales growth, with Q3 2025 at 1.4% and system sales up 3.1% year-over-year, driven by marketing campaigns and value offerings.

  • Opened three new restaurants in Q3 2025, totaling 14 year-to-date, with a strategic focus on Ontario and Quebec.

  • Operates 1,084 franchised and 10 corporate restaurants, plus one Pret A Manger, serving over 125 million guests annually as of September 7, 2025.

  • Maintains a strong brand reputation, ranked as Canada's strongest brand and #1 in several food categories.

  • Progressed on strategic initiatives, including the Five Star operating system, partnership with Pret a Manger, and expanded value offerings.

Financial highlights

  • Q3 2025 system sales reached $479.6M, up 3.1% year-over-year; YTD 2025 system sales were $1.33B, up 2.9%.

  • Adjusted EBITDA increased by $1.1M (5%) to $25.8M, with margin improving to 36.2% from 32.5% year-over-year; YTD adjusted EBITDA was $70.7M.

  • Income before income taxes rose by $14.6M (163%) to $23.6M, mainly from cessation of royalty expense and lower operating costs.

  • Revenue decreased by $4.8M due to fewer new restaurant openings compared to Q3 2024, partially offset by higher service fees and food distribution revenue.

  • Net income for Q3 2025 was $17.6M, up from $6.5M in Q3 2024.

Outlook and guidance

  • Fiscal 2025 guidance maintained: Adjusted EBITDA expected between $96M and $101M; system sales growth of 1.5%-4.5%; same store sales growth of 0.0%-3.0%.

  • Targeting 1,085–1,100 total units by year-end 2025.

  • Q4 is off to a strong start, with further value-based promotions planned and confidence in sustaining growth through strategic initiatives.

  • Committed to maintaining current quarterly dividend levels.

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Frequently asked questions

A & W Food Services of Canada Inc is a Canada-based company engaged in the franchising and operation of quick-service restaurants under the A&W brand. The company offers a menu that includes burgers, chicken, breakfast items, beverages, and sides, with a focus on sourcing ingredients from Canadian producers. A&W restaurants are operated through a network of franchised and corporate-owned locations across the country. A & W Food Services of Canada Inc is headquartered in North Vancouver, British Columbia, and its shares are listed on the TSX.

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