By Mark Kalinowski
Published on July 26, 2019 at 12:00 AM
Earlier today, McDonald’s (MCD; Buy) reported adjusted Q2 EPS of $2.05, one cent short of our $2.06 forecast, but in line with sell-side consensus (according to Consensus Metrix) of $2.05. However, investor eyes may be more focused on the robust Q2 same-store sales trends across the board.
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By Mark Kalinowski
Published on July 25, 2019 at 12:00 AM
After Thursday’s market close, Starbucks (SBUX; Buy) reported adjusted fiscal Q3 EPS of $0.78, surpassing our $0.73 forecast and sell-side consensus (according to Consensus Metrix) of $0.72. We attribute the earnings outperformance largely to better-than-expected same-store sales gains in the U.S. and in international markets.
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By Mark Kalinowski
Published on July 22, 2019 at 12:00 AM
Ahead of Yum Brands’ (YUM; Buy) second-quarter earnings release scheduled for before the market open on Thursday, August 1st, we raise our Q2 EPS estimate by $0.01 to $0.89, placing us two cents above sell-side consensus according to Consensus Metrix. Our EPS estimate increase is driven by (1) an update to our Q2E Taco Bell same-store sales projection to +5% (which places us as tied for the high on the sell-side in this respect), from our prior +4%, and versus consensus of +3.7% (please keep in mind that Yum Brands does not report its same-store sales out past the decimal point), and (2) taking up our worldwide Q2E KFC same-store sales estimate to +4% (from +3%).
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