Restaurants Research

Title Tickers Date Pages
TXRH: Texas Roadhouse - Best-in-Class SSS Do Not Come Cheaply: EPS Estimates Poised to Come Down Materially as TXRH Absorbs Ongoing Labor Inflation TXRH 2018-10-29 8
WING: Wingstop - 3Q18 Quick Hits from the Earnings Call – The Drivers Are in Place for Continued SSS & EPS Upside in 2019E WING 2018-10-29 8
BLMN: Bloomin Brands, Inc. - 3Q18: Quick Hits from Earnings Call: BLMN Confident SSS Momentum Has Legs and We Agree BLMN 2018-10-29
BLMN: Bloomin Brands, Inc. - 3Q18 First Look: Healthy SSS Upside with Tax-Rate Driven EPS Upside; 2018 SSS and EPS Guidance Raised BLMN 2018-10-29 8
CMG: Chipotle - 3Q18: Quick Hits from Earnings Call: New Advertising Resonating; Digital Sales Growth Coming at Expense of On-Premise Sales CMG 2018-10-25 7
DNKN: Dunkin' Brands - 3Q18: Quick Hits from the Earnings Call DNKN 2018-10-25 6
DNKN: Dunkin' Brands - DNKN First Look: Healthy Tax-Rate Driven EPS Upside, but Dunkin’ U.S. SSS Fall Short of Expectations DNKN 2018-10-25 8
MCD: McDonald's - 3Q18: Quick Hits from Earnings Call & Management Follow-up MCD 2018-10-23 4
MCD: McDonald's - MCD First Look: Int’l Holding Down the Fort & Then Some, While U.S. Absorbs Short-Term Remodel-Driven Margin Headwinds MCD 2018-10-23 7
MCD: McDonald's - Geolocation Case Studies: Peeling Back the Curtain on Traffic Trends Before, During and After Remodels MCD 2018-10-22
WING: Wingstop - Sizeable Value Creation Premium Justified: We See Several Years of Mid-to High-Teens EBITDA Growth on Minimal Capex WING 2018-10-19 22
YUM: Yum! Brands - Multiple Expansion Levers Limited with YUM Having Achieved or Made Significant Progress Toward Achieving Transformation Goals YUM 2018-10-19 22
PLAY: Dave & Buster's - We See the Return of SSS Growth in F4Q as a Multiple Expansion Catalyst for One of the Last Remaining 10%+ Unit Growth Stories PLAY 2018-10-19 24
CAKE: Cheesecake Factory - We See a Continued Tug of War Between Market Share Gains & Outsized Exposure to Wage Rate Inflation CAKE 2018-10-19 23
BJRI: BJ's Restaurants - Impressive SSS and Margin Expansion Momentum in 2018E, But We Expect It to Fade in 2019E with Valuation Following BJRI 2018-10-19 24
BLMN: Bloomin Brands, Inc. - Drivers in Place for Continued Market Share Gains - And In turn, A Narrowing of Sizeable Valuation Discount BLMN 2018-10-19 23
CBRL: Cracker Barrel - Margin Pressure and Decelerating SSS Kept in Check by Healthy Dividend Yield Support CBRL 2018-10-19 22
CMG: Chipotle - Premium Multiple Unsustainable - Even if Most Optimistic Street Estimates Are Met in 2019E, 2020E and Beyond CMG 2018-10-19 30
TXRH: Texas Roadhouse - SSS Will Cont to Impress, But EPS Growth Could be Cut in Half with Persistent Labor Cost Pressure & Loss of Tax Reform Tailwinds TXRH 2018-10-19 21
DNKN: Dunkin' Brands - 2020 SSS and Unit Development Targets Look Like a Long Shot - But Valuation Peak Here to Stay with DNKN a Perceived M&A Target DNKN 2018-10-19 22

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