By Ryan D. Lavender
Published on June 7, 2021 at 9:05 PM
With this report, we update our data-driven Kalinowski Fast-Casual Index for Q2E to +32.6%. This is the one-year figure, lapping the -10.7% number from Q2 2020. On a two-year basis, the Kalinowski Fast-Casual Index for Q2E is at +18.3%. These numbers are based on our latest proprietary checks/data as regards same-store sales performance for this segment during April, May, and early June.
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By Ryan D. Lavender
Published on May 5, 2021 at 1:22 PM
Earlier today, Dine Brands reported adjusted Q1 EPS of $1.75, well above our $0.80 forecast and sell-side consensus (according to Consensus Metrix) of $0.87. We attribute the EPS outperformance relative to our forecast to: (1) a much more favorable tax rate than projection (-6.6% actual vs. 25.0% projected); this helped Q1 EPS by about +46 cents, (2) better-than-expected Cost of Franchise and Restaurant Revenues as a percentage of Franchise and Restaurant Revenues (47.9% actual vs. 51.8% estimated), (3) more favorable than anticipated G&A/Revenue (19.5% actual vs. 20.6% forecasted), and (4) same-store sales than beat expectations for both Applebee’s U.S. and IHOP U.S.
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By Ryan D. Lavender
Published on May 4, 2021 at 1:18 PM
On Wednesday, June 9th, Kalinowski Equity Research will host a virtual non-deal roadshow (NDR) featuring Denny’s. Anticipated participants from Denny’s include: (1) President Mark Wolfinger, (2) EVP and CFO Robert Verostek, (3) VP – Investor Relations and FP&A Curt Nichols, and (4) Director – Investor Relations and FP&A Kayla Money. Institutional investors interested in participating in this virtual NDR are encouraged to contact Caroline at [email protected] or your sales contact.
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