THE WEEK THAT WAS, ENDING September 25th – Two Companies Report – Bellwether Darden and Troubled Cracker Barrel – One Upgrade, Two Downgrades, One Initiation

Restaurant Finance Monitor

REPORTED IN PRIOR WEEKS – TNREE CHANGES – Northcoast Research Upgrades Brinker International from Neutral to Buy, Argus Research Downgrades Restaurant Brands and Yum! Brands from Buy to Hold, One Initiation – Barclays initiates Driven Brands with Equal-Weight.

Otherwise:

McDonald’s is maintained Neutral at 2 firms, Positively at 5 firms.

Brinker International is maintained Neutral at 1 firm, Upgraded at 1 firm.

Maintained with Neutral rating is Texas Roadhouse.

Maintained with a Buy from Freedom Capital was Bloomin’ Brands.

Only Companies to report earnings last week were Darden and Cracker Barrel.

Darden was maintained Neutral at 3 firms, Positively at 5 firms.

Cracker Barrel was maintained Sell at 1 firm, Neutral at 1 firm.

Conference call transcripts are below for all companies reporting in prior weeks withRestaurant Brands International Inc. (QSR) Q2 2026 Earnings Call Transcript _ Seeking Alpha ratings change (Brinker, Restaurant Brands, Yum Brands), reporting in THE WEEK THAT WAS: (Darden, Cracker Barrel) and Initiated Coverage (Driven Brands).

Brinker International (EAT)

Brinker International, Inc. (EAT) Analyst_Investor Day Transcript _ Seeking Alpha

Restaurant Brands (QSR)

Restaurant Brands International Inc. (QSR) Q2 2026 Earnings Call Transcript _ Seeking Alpha

Yum! Brands YUM)

Yum! Brands, Inc. (YUM) Q2 2026 Earnings Call Transcript _ Seeking Alpha

Darden Restaurants, Inc.(DRI)

(DRI) Q1 2027 Earnings Call Transcript d_ Seeking Alpha

Cracker Barrel Old Country Store (CBRL)

Cracker Barrel Old Country Store, Inc. (CBRL) Q4 2026 Earnings Call Transcript _ Seeking Alpha

Driven Brands Holdings, Inc.(DRVN)

Driven Brands Holdings Inc. (DRVN) Q2 2026 Earnings Call Transcript _ Seeking Alpha

REPORTING IN THE WEEK TO COME – NOBODY SCHEDULED TO REPORT