MCD (Post-Call): Robust Results Across the McBoard

By Ryan D. Lavender Published on April 29, 2021 at 1:10 PM

Earlier today, McDonald’s reported Q1 adjusted EPS of $1.92, above our $1.86 forecast and sell-side consensus (according to Consensus Metrix) of $1.82. The EPS outperformance was driven by better-than-expected same-store sales in each of McDonald’s three major business segments.

WEN: The Groundhog Sees… Us Updating Our Wendy’s Forecasts

By Ryan D. Lavender Published on February 2, 2021 at 3:05 PM

With this note, we raise our full-Q1E Wendy’s U.S. same-store sales forecast by +300 basis points, to +10.0%. According to Consensus Metrix, sell-side consensus for Q1E as of this writing is at +7.3%.

MCD (Post-Call): Updating Our 2021E & 2022E EPS Projections

By Ryan D. Lavender Published on January 28, 2021 at 4:14 PM

Earlier today, McDonald’s reported $1.70 in adjusted Q4 EPS, lower than our $1.72 forecast and sell-side consensus (according to Consensus Metrix) of $1.77. Fourth-quarter Company-Operated Restaurant Expenses/Sales by CompanyOperated Restaurants came in at 85.2%, worse than our 82.8% estimate.