THE WEEK THAT WAS: ENDING 11/4 – VERY BUSY WEEK - GENERALLY DISAPPOINTING EARNINGS ONLY GENERATED ONE RATINGS CHANGE, LOTS OF CAUTION, BY COMPANIES AND ANALYSTS ALIKE

Regarding companies previously reporting, one change, BRIAN MULLEN downgrades TEXAS ROADHOUSE from BUY to HOLD

Regarding companies that reported this past week:

Only one ratings change: JARED GARBER upgraded RESTAURANT BRANDS (QSR) from SELL to NEUTRAL.

For CHEESECAKE FACTORY: BRIAN MULLAN AND JEFF BERNSTEIN don’t care for it. JON TOWER AND NICK SETYAN like it.

For DENNY’S: JON TOWER rates it NEUTRAL

For DINE BRANDS: ERIC GONZALEZ maintains NEUTRAL

For YUM BRANDS: JOHN IVANKOE AND CHRIS CARILL are both NEUTRAL

For BRINKER: JOHN GLASS AND JON TOWER are both NEUTRAL

For PAPA JOHN’S: ALL FOUR ANALYSTS are POSITIVE

For STARBUCKS: LAUREN SILBERMAN likes it, NICK SETYAN AND JON TOWER not so much.

For FRANCHISE GROUP: ALEXANDER PARIS maintains OUTPERFORM

For RESTAURANT BRANDS: JOHN GLASS is UNDERWEIGHT, ANDREW CHARLES and JARED GARBER are NEUTRAL.

For PORTILLO’S: JOHN GLASS maintains NEUTRAL stance.

For EUROPEAN WAX CENTERS – JONATHAN KEMP and DANA TELSEY LIKE IT, SIMEON GUTMAN rates it EQUAL-WEIGHT.

For THE ONE GROUP , CHUY’S, SHAKE SHACK – NICK SETYAN maintains OUTPERFORM

For RUTH’S HOSPITALITY – JOSHUA LONG maintains OVERWEIGHT

Conference call transcripts are below for all companies reporting in prior weeks with ratings changes (TEXAS ROADHOUSE) or initiations (NONE) and companies reporting in THE WEEK THAT WAS (DENNY’S, YUM BRANDS, CHEESCAKE FACTORY, RED ROBIN, DINE BRANDS, BRINKER, YUM CHINA, EUROPEAN WAS CENTERS, PORTILLO’S, STARBUCKS, THE ONE GROUP, NOODLES, POTBELLY, EL POLLO LOCO, PAPA JOHN’S, THE JOINT, FRANCHISE GROUP, CHUY’S, SHAKE SHACK, RESTAURANT BRANDS, RUTH’S HOSPITALITY).

TEXAS ROADHOUSE

https://seekingalpha.com/article/4550218-texas-roadhouse-inc-txrh-q3-2022-earnings-call-transcript

DENNY’S

https://seekingalpha.com/article/4551784-dennys-corporations-denn-q3-2022-earnings-call-transcript

YUM BRANDS

https://seekingalpha.com/article/4551939-yum-brands-inc-yum-q3-2022-earnings-call-transcript

CHEESCAKE FACTORY

https://seekingalpha.com/article/4551825-cheesecake-factory-incorporated-cake-q3-2022-earnings-call-transcript

RED ROBIN

https://seekingalpha.com/article/4552337-red-robin-gourmet-burgers-inc-rrgb-ceo-g-j-hart-on-q3-2022-results-earnings-call-transcript

DINE BRANDS

https://seekingalpha.com/article/4552076-dine-brands-global-inc-din-q3-2022-earnings-call-transcript