By Mark Kalinowski
Published on May 6, 2020 at 12:00 AM
Earlier today, Wendy’s (WEN; Buy, $20.07) reported Q1 adjusted EPS of $0.09, ahead of our $0.07 forecast, and in line with sell-side consensus (according to Consensus Metrix) of $0.09. First-quarter adjusted EBITDA of $89.3 million matched consensus.
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By Mark Kalinowski
Published on April 30, 2020 at 12:00 AM
Earlier today, McDonald’s (MCD; Neutral, $183.93) reported Q1 EPS of $1.47, short of our $1.52 forecast and sell-side consensus (according to Consensus Metrix) of $1.55. SG&A/Revenues of 12.5% (versus our 11.7% projection) accounts for the difference between Q1 EPS and our EPS estimate. However, part of this SG&A relates to non-recurring costs, such as $40 million for the company’s cancelation of its biannual worldwide convention, and $20 million for “payments of contractual obligations as [McDonald’s] reduced the scope and ongoing spend in R&D work of certain restaurant technology.”
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By Mark Kalinowski
Published on April 30, 2020 at 12:00 AM
Earlier today, Dunkin’ Brands Group (DNKN; Neutral, $64.69) reported Q1 adjusted EPS of $0.67, ahead of our $0.61 forecast and sell-side consensus (according to Consensus Metrix) of $0.59.
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