PZZA (Post-Call): Will Q1 be “Epic”?

By Ryan D. Lavender Published on February 25, 2021 at 5:49 PM

Earlier today, Papa John’s (PZZA; Buy, $102.64) reported Q4 adjusted EPS of $0.40, matching our $0.40 forecast, but coming below sell-side consensus (according to Consensus Metrix) of $0.45. Keep in mind, special year-end bonuses hampered Q4 EPS by approximately -6 cents, and this may not have been taken into account by some sell-side firms’ estimates.

CAKE (Post-Call): Q4 Disappoints, But Q1 Showing Sequential Improvement

By Ryan D. Lavender Published on February 17, 2021 at 4:53 PM

After today’s (Wednesday’s) market close, The Cheesecake Factory reported adjusted Q4 EPS of -$0.32, below our +$0.06 forecast and sell-side consensus (according to Consensus Metrix) of -$0.02.

DENN (Post-Call): U.S. Same-Store Sales -25% for First Two Weeks of February

By Ryan D. Lavender Published on February 16, 2021 at 5:03 PM

After today’s (Tuesday’s) market close, Denny’s reported adjusted Q4 EPS of -$0.05, lower than our +$0.01 projection and sell-side consensus (according to Consensus Metrix) of -$0.04. Relative to our model, we attribute the Q4 EPS shortfall primarily to Payroll and Benefits/Company Restaurant Sales (44.4% actual vs. 41.5% projected).