THE WEEK THAT WAS, ENDING JANUARY 5 – no earnings reported but 1 company UPGRADE & 7 DOWNGRADES – with relevant transcripts

Restaurant Finance Monitor
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PREVIOUSLY REPORTING:

YUM BRANDS HAD TWO UPGRADES AND ONE DOWNGRADE

FIRST WATCH HAD ONE DOWNGRADE

McDONALD’S HAD ONE DOWNGRADE

PAPA JOHN’S HAD TWO DOWNGRADES

XPONENTIAL FITNESS HAD ONE DOWNGRADE

YUM CHINA HAD ONE DOWNGRADE

WENDY’S HAD ONE DOWNGRADE

OTHERWISE:

Brinker: maintained once neutral and once positively

Chipotle: maintained three times positively

First Watch: maintained once at overweight

McDonalds: maintained once at neutral

Darden: maintained twice positively

BJ’s: maintained once positively and once negatively

Bloomin’ Brands: maintained twice positively

Dutch Bros: maintained once neutral

Denny’s, Dine Brands, Sweetgreen, Shake Shake, Restaurant Brands, Jack in the Box: all maintained once positively

COMPANIES REPORTING DURING WEEK – NOBODY REPORTING IN SHORT  WEEK BETWEEN CHRISTMAS AND NEW YEARS.

Conference call transcripts are below for all companies reporting in prior weeks with ratings changes (Yum Brands, First Watch, McDonald’s, Papa John’s, Xponential Fitness, Yum China, Wendy’s), initiations (none), or companies reporting in THE WEEK THAT WAS:  (none).

TRANSCRIPTS BELOW:

Yum Brands (YUM)

https://seekingalpha.com/article/4645845-yum-brands-inc-yum-q3-2023-earnings-call-transcript

First Watch (FWRG)

https://seekingalpha.com/article/4645897-first-watch-restaurant-group-inc-fwrg-q3-2023-earnings-call-transcript

McDonald’s (MCD)

https://seekingalpha.com/article/4656663-mcdonalds-corporation-mcd-2023-investor-update-transcript

Papa John’s (PZZA)

https://seekingalpha.com/article/4646512-papa-johns-international-inc-pzza-q3-2023-earnings-call-transcript

Xponential Fitness (XPOF)

https://seekingalpha.com/article/4650959-xponential-fitness-inc-xpof-q3-2023-earnings-call-transcript

Yum China (YUMC)

https://seekingalpha.com/article/4645697-yum-china-holdings-inc-yumc-q3-2023-earnings-call-transcript

https://seekingalpha.com/article/4645676-yum-china-holdings-inc-2023-q3-results-earnings-call-presentation

Wendy’s (WEN)

https://seekingalpha.com/article/4646468-wendys-company-wen-q3-2023-earnings-call-transcript

https://seekingalpha.com/article/4646731-wendys-company-2023-q3-results-earnings-call-presentation

THE WEEK TO COME: ICR Conference, in Orlando. Restaurants and Retailers are presenting to a crowd of thousands. We will be learning what we can for the benefit of our readers.

Y ROCKY MOUNTAIN CHOCOLATE FACTORY EXPECTED TO REPORT, AFTER MARKET CLOSE ON THURDAY 1/11.