A&W Food Services of Canada Inc. announced on Thursday its financial results for the 16 and 52-week periods ended December 28, 2025 and provided an outlook for fiscal 2026.
“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,” said Susan Senecal, Chief Executive Officer. “These are significant achievements given the fiercely competitive landscape and challenging macroeconomic environment that we are operating in.
“We stay committed to making sure that A&W remains affordable for all Canadians, while maintaining the high-quality and great taste that our brand is known for and are pleased with how our value-based promotions and dedicated value menu contributed to our growth in 2025.
“While the continued economic uncertainty in Canada and the severe weather events in the eastern provinces during early 2026 present headwinds for sales at A&W restaurants in 2026, we are confident in our brand’s ability to deliver value to our guests. We are optimistic about our future and believe we can successfully navigate these challenging conditions.”
Q4 FINANCIAL HIGHLIGHTS
(as compared to Q4 2024)
- System Sales of $591.4 million increased by $14.6 million (2.5%)
- Revenue of $93.0 million was consistent with Q4 2024 revenue of $93.2 million
- Income before income taxes increased by $2.5 million (12%) to $23.4 million
- Adjusted EBITDA increased by $1.4 million (5%) to $29.3 million and Adjusted EBITDA Margin increased 150 bps to 31.5% from 30.0%
- General and administrative expenses increased by $1.9 million (12%) to $16.9 million, primarily due to differences in the timing of when expenses were incurred
- Cash Dividend of $0.480 per share was declared on December 1, 2025
- Opened 12 new A&W restaurants
FISCAL 2025 FINANCIAL HIGHLIGHTS
(as compared to Fiscal 2024)
- System Sales increased by $51.8 million (2.8%) to $1.92 billion
- Revenue increased by $1.8 million (1%) to $294.1 million
- Income before income taxes increased by $26.7 million (53%) to $76.7 million
- Adjusted EBITDA increased by $6.6 million (7%) to $100.0 million and Adjusted EBITDA Margin increased 200 bps to 34.0% from 32.0%
- General and administrative expenses increased by $1.1 million (2%) to $49.7 million, in line with the increase in Canada’s Consumer Price Index in 2025 of 2.1%
- Cash Dividends totalling $1.92 per share were declared
- Opened 26 new A&W restaurants and achieved net annual restaurant unit growth of 2.0%, compared to 1.8% in Fiscal 2024
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