Earlier today (Friday), Wendy’s reported adjusted Q3 EPS of $0.24. This was above our $0.19 estimate and sell-side consensus (according to Consensus Metrix) of $0.20. Third-quarter adjusted EBITDA reached $138.0 million. This was ahead of our $119.8 million forecast and consensus of $123.6 million.
Earlier today (Thursday), Papa Johns reported that its third-quarter adjusted EPS amounted to $0.32. This was below our $0.38 forecast and sell-side consensus (according to Consensus Metrix) of $0.40.
Earlier today (Wednesday), Dine Brands reported third-quarter adjusted EPS of $0.73, well below our $1.10 estimate and sell-side consensus (according to Consensus Metrix) of $1.01. Dine Brands comments that the decline in adjusted EPS year-over-year (Q3 2024 adjusted EPS was $1.44) “was primarily due to lower segment profit and an increase in G&A expenses.” Adjusted EBITDA reached $49.0 million in Q3. Consensus was at $55.8 million.
Earlier today (Wednesday), McDonald’s reported Q3 adjusted EPS of $3.22. This was lower than our $3.30 forecast and sell-side consensus (according to Consensus Metrix) of $3.32. By our math, the Q3 adjusted tax rate of 22.5% was modestly less favorable than our 21.5% forecast and consensus of 21.2%. By our math, the difference between the 22.5% tax rate and 21.5%E hampered McDonald’s Q3 adjusted EPS by about -5 cents.
Earlier today, Yum Brands reported Q3 adjusted EPS of $1.58, ahead of our $1.50 forecast and sell-side consensus (according to Consensus Metrix) of $1.48.
After today’s market close, Denny’s announced that it plans to be acquired by two private-equity firms (TriArtisan Capital Advisors and Treville Capital Group), along with one of its larger franchisees (Yadav Enterprises). The planned purchase price is $6.25 per share (all cash). As a result, DENN shares have soared by about +47% in today’s after-market trading, to $6.04 per share as of this writing, well above today’s closing price in the regular trading session of $4.11.