Earlier today (Thursday), Wendy’s reported adjusted Q1 EPS of $0.23, coming in above our $0.21 forecast and sell-side consensus (according to Consensus Metrix) of $0.21. Adjusted EBITDA reached $125.6 million in Q1. This was better than our $122.3 million forecast and consensus of $124.2 million.
Earlier today, Yum Brands reported adjusted Q1 EPS of $1.15. This fell short of our $1.25 forecast and sell-side consensus (according to Consensus Metrix) of $1.21.
After today’s (Tuesday’s) market close, Starbucks reported fiscal Q2 (calendar Q1) EPS of $0.68, falling well short of our $0.79 forecast and sell-side consensus (according to Consensus Metrix) of $0.80.
After today’s (Tuesday’s) market close, Denny’s reported adjusted Q1 EPS of $0.11. This fell short of our $0.14 forecast and sell-side consensus (according to Consensus Metrix) of $0.14. Denny’s comments that Q1 adjusted EPS was hampered “primarily due to higher worker’s compensation and general liability in the current quarter which weighed on adjusted net income per share by approximately $0.02.”
Earlier today, McDonald’s reported Q1 adjusted EPS of $2.70. This compares with our $2.70 forecast and sell-side consensus (according to Consensus Metrix) of $2.71. The Q1 tax rate came to 19.9%. This was more favorable than our 21.0% projection and consensus of 20.8%. By our math, the modestly more favorable-than-expected tax rate helped Q1 EPS by about +4 cents.
Earlier today, Domino’s reported Q1 EPS of $3.58, surpassing our $3.40 estimate and sell-side consensus (according to Consensus Metrix) of $3.39. Excluding a hit from DPC Dash, and help from a better-than-expected tax rate, we calculate that Q1 EPS would have beat consensus by about +37 cents.