Earlier today (Friday), Wendy’s reported adjusted Q4 2025 EPS of $0.16. This matched our $0.16 forecast, and came in +2 cents ahead of sell-side consensus (according to Consensus Metrix) of $0.14. Fourth-quarter adjusted EBITDA reached $113.3 million. This was above our $110.6 million forecast and consensus of $112.6 million.
The latest Consumer Price Index (CPI) data shows that prices for food-at-home (grocery stores and supermarkets) rose by +2.1% in January — sequentially down by -30 basis points since December’s +2.4%. This +2.1% number for January compares with price for food-away-from-home (restaurants) that increased by +4.0% year-over-year in January (sequentially down by -10 basis points from December’s +4.1%). This marks the 34th month in a row for which restaurant pricing is outpacing grocery/supermarket pricing.
After today’s (Wednesday’s) market close, McDonald’s reported adjusted Q4 EPS of $3.12. This came in above our $3.10 projection and sell-side consensus (according to Consensus Metrix) of $3.06.
Earlier today (Wednesday), Yum Brands reported adjusted fourth-quarter EPS of $1.73. This was short of our $1.83 estimate and sell-side consensus (according to Consensus Metrix) of $1.76. However, the Q4 adjusted tax rate was 25.9%. This was unfavorable compared to our 22.5% forecast and consensus at 22.6%. We calculate that the higher-than-expected tax rate cost Yum Brands about -8 cents worth of Q4 EPS. In other words, adjusted EPS would have beat consensus by +5 cents once this factor is taken into account.
After today’s (Tuesday’s) market close, Chipotle Mexican Grill reported fourth-quarter adjusted EPS of $0.25, coming in ahead of our $0.23 projection and sell-side consensus (according to Consensus Metrix) of $0.24.
Earlier today, Starbucks hosted an Analyst Meeting in New York City. As part of this, Starbucks unveiled some new financial targets for the years through fiscal 2028. These include: