After today’s (Tuesday’s) market close, the CDC (Centers for Disease Control and Prevention) issued a Food Safety Alert: the CDC “is investigating 49 illnesses in 10 states linked to McDonald’s Quarter Pounder hamburgers. If you ate a Quarter Pounder hamburger from McDonald’s and have severe symptoms of E. coli, contact your healthcare provider.”
After today’s (Tuesday’s) market close, Starbucks pre-announced fiscal Q4 (calendar Q3) results short of consensus. The full quarterly earnings release is still planned for after the market close on Wednesday, October 30th, with a conference call at 5:00 PM Eastern time that day. The company also announced that it suspends guidance as regards its fiscal 2025. Today’s release can be accessed at:
Earlier today, Denny’s announced its Q3 earnings. The company also hosted an Analyst Meeting in New York City. Slides pertaining to today’s Analyst Meeting are located at:
McDonald’s plans to release its third-quarter earnings before the market open on Tuesday, October 29th. Ahead of that, we publish part one of our two-part, proprietary McDonald’s Franchisee Survey today.
Data out today from the U.S. Census shows that restaurants’ market share (with grocery stores/supermarkets making up the other component) was 56.1% in September 2024. This 56.1% figure is only -20 basis points below the all-time monthly record. However, it’s up by only +30 basis points year-over-year. This is the second-smallest year-over-year market-share gain for the restaurant industry since it gave up -710 basis points of share in a pandemic-affected February 2021 (which lapped a pre-pandemic February 2020).
Earlier today, Domino’s reported Q3 EPS reached $4.19. This was ahead of our $3.40 forecast and sell-side consensus (according to Consensus Metrix) of $3.64. Importantly, Domino’s minority ownership stake in DPC Dash (Domino’s China; 1405.HK; Not Rated) helped pre-tax income by $26.2 million, in line with our expectations. By our math, this works out to an EPS boost of about +59 cents (matching our expectations). Thus, excluding this help, Q3 EPS would have been about $3.60 — four cents short of consensus. Please note that this DPC Dash-related EPS help was not included in our $3.40 Q3E EPS estimate, nor in consensus.