)
)
Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
A&W Revenue Royalties Income Fund
A&W Revenue Royalties Income Fund (AW-UN) investor relations material
A&W Revenue Royalties Income Fund has been delisted
A&W Revenue Royalties Income Fund Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2024 earnings summary15 Oct, 2024
Executive summary
Unitholders approved the strategic combination of the Fund and Food Services, forming a new public company, with 99.2% voting in favor; final court approval was granted and the transaction will close after October 17, 2024.
Food Services shares will begin trading on the TSX under the symbol AW on October 18, 2024.
Royalty income rose 0.3% in Q3 2024 and 0.9% year to date compared to 2023, driven by 10 net new restaurants added to the Royalty Pool in January 2024.
19 new restaurants opened in the first three quarters of 2024, with 20 more under construction, signaling expansion momentum.
Financial highlights
Q3 2024 royalty income was CAD 13.74 million on gross sales of CAD 458.1 million, up from CAD 13.71 million and CAD 456.8 million in Q3 2023.
Year-to-date royalty income reached CAD 38.26 million on gross sales of CAD 1.28 billion, compared to CAD 37.92 million and CAD 1.26 billion in 2023.
Q3 2024 net income was CAD 9.53 million, down from CAD 10.64 million in Q3 2023; year-to-date net income was CAD 28.18 million versus CAD 29.50 million.
Distributable cash in Q3 2024 was CAD 9 million, down from CAD 11.1 million in Q3 2023, due to CAD 2.5 million in non-recurring transaction costs.
Distributable cash per equivalent unit was CAD 0.435 in Q3 2024 versus CAD 0.544 in Q3 2023; year-to-date CAD 1.317 in 2024 versus CAD 1.437 in 2023.
Outlook and guidance
Focus is shifting to value and affordability to address consumer demand and economic pressures, with renewed emphasis for Q4.
Continued product innovation is planned, with successful launches like the Masala Veggie Burger and Piri-Piri lineup.
Nationwide marketing campaigns are expected to support new initiatives.
Pret A Manger rollout strategy details will be shared soon, with franchisee interest and standalone concept testing underway.
Food Services expects to exceed the annual number of new restaurant openings compared to post-pandemic years.
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.Research faster. Power your platform.
Latest events from A&W Revenue Royalties Income Fund
A&W Revenue Royalties Income Fund
AI chat
Ask anything. Verify everything.
Ask across every event and document from public companies. Each answer links back to the exact line in the transcript, slide or filing it came from.Learn moreFind what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.)
Trust every finding
50m+ first-party documents. Every output traceable to its source.Find what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.Trust every finding
50m+ first-party documents. Every output traceable to its source.Automations
Zero in on what matters
Define the prompt once. It runs the moment a company publishes or on a schedule you set. Outputs map to the exact signals you choose.Learn more)
Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.)
Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Live audio & transcripts
Be first
Join any earnings call live in one click, with no manual registration. Follow the transcript as it happens and jump straight to the moments that matter.Learn more)
Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.)
Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Quartr MCP connects your AI environment to 17K+ public companies
Pull live transcripts, filings, and slides into Claude or Codex via MCP. Combine Quartr's global IR data with any other dataset. Run agentic research and monitoring.
Included with Quartr Pro at no extra cost.Learn more
Quartr's AI stands out because it only pulls clean, first-party data from public companies. In investing, that's everything.
Jamie Ross
Investment Manager, GAM Investments
GAM
GAM
Research that used to take hours now takes seconds with Quartr Pro. Tracking shifts in tone or extracting tables, it's as simple as typing a query.
Tom O'Hara
Investment Director
Ciena
Ciena
Before Quartr we spent hours manually compiling insights through the peer earnings cycle. Now, these tasks are done faster, with greater precision.
Gregg Lampf
VP of Investor Relations
Protean
Protean
Being able to ask specific questions across years of transcripts and reports and instantly get verified answers is a game-changer.
Pontus Dackmo
CEO & Investment Manager
)
)
Frequently asked questions
A&W Revenue Royalties Income Fund owns the A&W trademarks used by A&W Food Services of Canada Inc. in operating quick-service restaurants. The fund earns revenue based on a percentage of gross sales from franchised and corporate restaurants. The company is headquartered in North Vancouver, Canada, and its shares are listed on the TSX.