DNKN (Post-Call) Not Spooked by a Favorable Q3 Tax Rate

By Mark Kalinowski Published on October 31, 2019 at 12:00 AM

Earlier today, Dunkin’ Brands Group (DNKN; Neutral) reported adjusted Q3 EPS of $0.90, surpassing our $0.81 forecast and sell-side consensus (according to Consensus Metrix) of $0.81. We attribute about $0.06-$0.07 of the EPS beat to a better-than-expected adjusted tax rate (21.9% actual vs. 27.7% forecasted and 27.8% consensus).

WEN A Bold Vision from Wendy’s at its Analyst Meeting

By Mark Kalinowski Published on October 11, 2019 at 12:00 AM

Earlier today, Wendy’s (WEN; Buy) hosted an Analyst Meeting. Shares are reacting positively to the news intraday, although there’s a lot of unpack, so let’s get to it. We maintain our Buy rating on WEN, and note the following:

DPZ (Post-Call) Updates Long-Term SameStore Sales Targets

By Mark Kalinowski Published on October 8, 2019 at 12:00 AM

Earlier today, Domino’s (DPZ; Neutral) reported Q3 EPS of $2.05, a little short of our $2.09 forecast and sell-side consensus of $2.07. Tax rate (21.7% actual vs. our 20.0% projection) accounts for the difference between our EPS estimate and the actual.