THE WEEK THAT WAS, ENDING MARCH 10th – STILL QUITE A FEW EARNINGS REPORTS – ONLY TWO RATINGS CHANGES – with relevant transcripts

Restaurant Finance Monitor
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Regarding companies previously reporting: All but two ratings “maintained”. Two changes were Wendy’s, downgraded from Buy to Hold, and Carrol’s, upgraded from Hold to Buy.

Dine Brands maintained at Overweight.

Xponential Fitness maintained at Buy.

Papa John’s maintained at Hold

Yum Brands, McDonald’s, Fiesta Restaurant Group all maintained at Buy

REPORTED IN PAST WEEK   

For Companies Reporting During Week:  First Watch, Noodles, The One Group Hospitality, The Joint, European Wax Center, El Pollo Loco – No changes, nor updates on The Joint and El Pollo Loco

Re: First Watch: No change. One Neutral, Two Positive

Re: The One Group: No change. One Neutral, One Positive

Re Noodles: No change. Both firms like it

Re European  Wax Center – No change. One firm likes it

No rankings shown for The Joint and El Pollo Loco

Conference call transcripts are below for all companies reporting in prior weeks with ratings changes  (Wendy’s and Carrol’s), or initiations (None) and companies reporting in THE WEEK THAT WAS (First Watch, Noodles, The One Group Hospitality, The Joint, European Wax Center, El Pollo Loco).

Wendy’s

https://seekingalpha.com/article/4583432-wendys-company-wen-q4-2022-earnings-call-transcript

First Watch

https://seekingalpha.com/article/4585292-first-watch-restaurant-group-inc-fwrg-q4-2022-earnings-call-transcript

https://seekingalpha.com/article/4585224-first-watch-restaurant-group-inc-2022-q4-results-earnings-call-presentation

Noodles

https://seekingalpha.com/article/4585800-noodles-and-company-ndls-q4-2022-earnings-call-transcript

The One Group Hospitality

https://seekingalpha.com/article/4586334-one-group-hospitality-inc-stks-q4-2022-earnings-call-transcript

The Joint

https://seekingalpha.com/article/4586275-joint-corp-jynt-q4-2022-earnings-call-transcript

https://seekingalpha.com/article/4586237-joint-corp-2022-q4-results-earnings-call-presentation

European Wax Center

https://seekingalpha.com/article/4586185-european-wax-center-inc-ewcz-q4-2022-earnings-call-transcript

El Pollo Loco

https://seekingalpha.com/article/4586318-el-pollo-loco-holdings-inc-loco-q4-2022-earnings-call-transcript

THE WEEK TO COME – things are quieting down