Restaurants Research

Title Tickers Date
Casual Dining Off-premise Sales Deep Dive - Outside of Early-Stage Delivery & Large Party Catering, Off-Premise Sales Do Not Appear to Drive Share Gains 2019-03-19
DRI: Darden Restaurants - Weak February Segment Sales Trends Weigh on SSS Upside Potential DRI 2019-03-15
BLMN: Bloomin Brands, Inc. - Analyst Meeting Highlights Ample SSS Drivers; Margin Expansion a Show-Me Story, But at Less Than 7x EBITDA – We Like Risk/Reward BLMN 2019-03-12
Restaurant Sector Share Prices Defying Revision Trends - Stocks Have Moved Up on Downward Revisions: Precedent Suggests This Is Unsustainable 2019-03-07
WING: Wingstop - Fundamentals Continue to Impress: EPS Estimates Coming Down on Higher Interest Expense with EBITDA Estimates Resilient WING 2019-02-28
Mobile App Data Deep Dive: Burger/Chicken Sandwich Segment - The Consumer Adoption Leader is Chick-Fil-A with McDonald’s Having A Strong Grip on the Number 2 Spot 2019-02-28
RRGB: Red Robin - 2019 Guidance & SSS Recovery Strategy Are Big Show-Me Stories; At ~5x 2020 EBITDA – Shares Discounting Challenging Road Ahead RRGB 2019-02-26
CBRL: Cracker Barrel - Underwhelming Profit Flow Through A Recurring CDR Theme; Off-premise SSS Tailwind to Moderate Moving Past Holiday Season CBRL 2019-02-26
CBRL: Cracker Barrel - Restaurant SSS Upside, Offset by Retail SSS Miss & Labor Pressure. Contribution of $110 Holiday To-Go Meals to SSS Upside? CBRL 2019-02-26
BJRI: BJ's Restaurants - Slowing SSS, Wage Inflation & Accounting Headwinds Drive Downward Revisions: We Remain Underperform W/ More to Come BJRI 2019-02-21
JACK: Jack in the Box - F1Q19 Quick Hits from the Earnings Call: Tug of War Persists. Weak Fundamentals vs. Potential Acquisition JACK 2019-02-21
WEN: Wendy's - 4Q Results and 2019 Guidance Intro Underwhelm as Expected; We Continue to Be Fans of WEN’s Accelerating FCF Growth Prospects WEN 2019-02-21
CBRL: Cracker Barrel - Expect Modest Holiday Sales-Driven SSS Upside & FY19 Guidance Reiteration – Healthy Valuation Premium Unmerited CBRL 2019-02-21
JACK: Jack in the Box - First Look: Market Share Losses Persist; But Value Push Proves Effective in Narrowing Performance Gap Late in The Quarter JACK 2019-02-20
CAKE: Cheesecake Factory - Quick Hits from the Earnings Call: 4Q SSS Solid, but Margin Pressures Persist and EPS Estimates Coming Down CAKE 2019-02-20
TXRH: Texas Roadhouse - Maintaining Best in Class SSS Year After Year Does Not Come Cheap - Downward EPS Revisions on the Way TXRH 2019-02-19
BJRI: BJ's Restaurants - Decelerating SSS & Continued MSD Wage Rate Inflation Point to Potential Downward EPS and EBITDA Revisions BJRI 2019-02-19
WEN: Wendy's - 4Q SSS & 2019 Guidance Intro Likely to Underwhelm, but WEN’s Accelerating Free Cash Flow Growth Prospects Are Hard to Ignore WEN 2019-02-19
EAT: Brinker International - Model Update EAT 2019-02-15
BLMN: Bloomin Brands, Inc. - Model Update BLMN 2019-02-15

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