THE WEEK THAT WAS, ENDING August 8th – 24 companies report, a couple of stocks up big, several down big -only TWO RATINGS CHANGES - very educational week - pace slows down in coming week – with relevant transcripts & presentations

REPORTED IN PRIOR WEEKS (below): Only ratings change was Benchmark Upgrading BJ’s Restaurants from Hold to Buy.

Otherwise:

Maintained at Neutral by1firm were European Wax Center, CAVA Group and Cheesecake Factory.

Reporting companies in past week were: Denny’s, Yum Brands, Yum China, Portillo’s, First Watch, Driven Brands, The One Group, Dine Brands, McDonald’s, Valvoline, Planet Fitness, Bloomin Brands, GEN Restaurants, Dutch Bros, Jack in the Box, Potbelly, Papa John’s, Restaurant Brands, Good Times Restaurants, Sweetgreen, The Joint, Xponential Fitness, Texas Roadhouse, Wendy’s.

With 24 companies reporting, only ratings change was JP Morgan Upgrading Driven Brands from Neutral to Overweight.

Otherwise:

Maintained were:

McDonalds: 2 firms Neutral, 6 Positive.

Sweetgreen: 2 Neutral, 3 Positive.

Restaurant Brands: 1 Neutral, 2 Positive

Bloomin Brands: 1 Sell, 2 Neutral.

Yum Brands: 4 Neutral, 3 Positive.

Jack in the Box: 4 Neutral, 2 Positive.

Portillo’s: 3 Neutral.

Dutch Bros: 5 Positive.

Denny’s: 1 Neutral, 1 Positive.

First Watch: 2 Positive.

Dine Brands: 1 Neutral,1 Positive.

Papa Johns: 1 Neutral, 1 Positive.

Maintained Neutral at 1 firm were: Wendy’s, The One Group and Texas Roadhouse.

Maintained Positive at 1 firm were: The Joint, GEN Restaurants, Valvoline, Planet Fitness, Potbelly , Xponential Fitness.

Conference call transcripts are below for all companies reporting in prior weeks with ratings change in THE WEEK THAT WAS: (BJ’s Restaurants) Initiations (none), or companies reporting::(Denny’s, Yum Brands, Yum China, Portillo’s, First Watch, Driven Brands, The One Group, Dine Brands, McDonald’s, Valvoline, Planet Fitness, Bloomin Brands, GEN Restaurants, Dutch Bros, Jack in the Box, Potbelly, Papa John’s, Restaurant Brands, Good Times Restaurants, Sweetgreen, The Joint, Xponential Fitness, Texas Roadhouse, Wendy’s).

BJ’S Restaurants (BJRI)

BJ’s Restaurants, Inc. (BJRI) Q2 2025 Earnings Call Transcript _ Seeking Alpha

Denny’s (DENN)

Denny’s Corporation (DENN) Q2 2025 Earnings Call Transcript _ Seeking Alpha

Yum Brands (YUM)

Yum! Brands, Inc. (YUM) Q2 2025 Earnings Call Transcript _ Seeking Alpha

Yum China (YUMC)

Yum China Holdings, Inc. (YUMC) Q2 2025 Earnings Call Transcript _ Seeking Alpha

Portillo’s (PTLO)

Portillo’s Inc. (PTLO) Q2 2025 Earnings Call Transcript _ Seeking Alpha

Portillo’s Inc. 2025 Q2 – Results – Earnings Call Presentation (NASDAQ _ PTLO) _ Seeking Alpha

First Watch (FWRG)