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Elasticated pants get ready for the snack attack! š Hungry inflation might be trying to take a bite out of our wallets but it hasnāt stopped us reaching for comfort food. And it looks like fast-food chains and diners are taking the biggest slice of the pie. š„§Ā
So too are some shareholders. Super Bowl rebuffer Burger King parent Restaurant Brands (QSR) plans to King-size their April dividend payments to a flaminā good 3.3%. This follows strong fourth-quarter results that beat revenue expectations but slightly missed on earnings, just as incoming CEO Joshua Kobza readies to ascend his throne. šĀ
70-year-old Dennyās (DENN) 24/7 low dollar dining aināt looking too shabby either. Has their tantalising March menu refresh added to their all-day Diner Deals got Denny's customers thirsty? š° The company posted a fourth quarter āearnings surpriseā of 12.50%. And their revenues of US$120.85 million chomped past Zacks Consensus Estimate by 0.15%, topping their previous year by a tasty 12.27%, with staffing and turnover now ācomparableā to pre-pandemic levels.
Outback Steakhouse owner Bloomin' Brands (BLMN) might be yeehawing too following a share surge following their āmixedā fourth-quarter earnings. š„© They beat earnings estimates of US$0.65 a share landing at US$0.68. But thereās sizzle ahead, the company announcing a US$125 million share buyback.
Shake Shack (SHAK) meanwhile is once bitten twice shy after price hikes in beef, fries, dairy, packaging and, erm, truffles, leading to a quarter net loss of US$11.1 million. š āThough, while earnings per share (EPS) were down 6 cents (US), they were 5 cents (US) higher than Wall Street expectations. Revenue was also a snack-size higher, at US$238.5 million versus US$238.2 million expected.
BJās Restaurantsā (BJRI) better than expected earnings results drizzled the sauce too. Citigroup lifted their target price from US$30 to US$35, Barclays gave them an āunderweightā rating, and Deutsche Bank Aktiengesellschaft added extra cheese with their ābuyā rating.š
But proving not everythingās always bigger in Texas, Texas Roadhouse (TXRH) fell short of analystsā expectations, missing on earnings and revenue ā¦a Texas takeaway cocktail hangover, perhaps? š¹
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Weāre not financial advisors and Hatch news is for your information only. However dazzling our writing, none of it is a recommendation to invest in any of the companies or funds mentioned. If you want support before making any investment decisions, consider seeking financial advice from a licensed provider. Weāve done our best to ensure all information is current when we pushed āpublishā on this article. And of course, with investing, your money isnāt guaranteed to grow and thereās always a risk you might lose money.
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