“One of Wall Street’s Top Analysts” – CNBC

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“Mark Kalinowski has his finger on the pulse of the restaurant business like no other Wall Street analyst… he has broken more news about McDonald’s than the reporters assigned to the beat… Kalinowski rolls up his sleeves, dives in and brings important news to the surface for clients”

-Huffington Post


“The Burger King with accurate predictions… The Big Mac of predicting the company’s [McDonald’s] sales.”

-The Wall Street Journal


Lead Analyst:


Mark Kalinowski

Kalinowski Equity Research LLC provides its clients with value-added, forward-looking information that helps them make informed decisions about restaurant-stock investing.

McDonald's Corp (MCD)
Mark Kalinowski

MCD: McDonald’s Franchisee Survey Leads to Updated Forecasts

McDonald’s plans to release its Q1 earnings before the market open on Thursday, April 29th, to be followed that day by the related earnings release conference call. For Q1E, we retain our existing McDonald’s U.S. same-store sales forecast of +12.2%, which lies +190 basis points above current sell-side consensus (according to Consensus Metrix) of +10.3%. Our Q1E EPS estimate remains at $1.86, five cents above consensus of $1.81.

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Restaurant Industry
MarK Kalinowski

Restaurants: BlackBox Index Up on a Two-Year Basis for March 2021

Earlier today (Thursday, April 15th), we learned that the BlackBox Index of samestore sales for March 2021 — importantly, these data points are on a two-year basis — was up by +1.8%, with two-year traffic off by -9.4%. The +1.8% two-year number implies a one-year March 2021 figure of about +42%. This +42% figure is the first positive month for the BlackBox Index since February 2020’s +0.3%. We also calculate that two-year traffic is down

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