Chipotle (CMG) will report earnings
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$CMG
McDonald’s (MCD) will report earnings
CMG will report after markets close today.
McDonalds (MCD) is scheduled to report Q3 earnings before the open tomorrow.
Consensus estimates Q3 adj. EPS of $2.21 (vs. $2.10 last year) on revs of $5.47 bln (+2% yr/yr)
Q3 comps estimate is for +5.5%
Last quarter, MCD reported both EPS and reported revs in-line.
Global comparable sales increased 6.5% vs 5% estimate
MCD is trading around the same level it was going into its Q2 report.
TECHS:
Currently shares are trading at a P/E 25x which gives a similar to SBUX (29x). Lower quality competitors such as Wendy's (34x) and YUM 28) are trading at a premium.
Peers: YUM, WEN, BKW, CMG, SHAK, RRGB, DPZ
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Chipotle (CMG) will report Q1 earnings this afternoon with a conference call to follow at 4:30 PM ET.
Chipotle (CMG) is set to report Q3 earnings after the close today (last quarter the co reported at 16:10). The co will host a conference call to discuss later at 16:30.
McDonalds (MCD) is scheduled to report Q3 earnings before the open tomorrow. The company reported last quarter's earnings at 7:58 am ET (and a conference call is scheduled for 11:00 am ET)
Chipotle (CMG) is set to report Q1 earnings after the close today (last quarter the co reported at 16:05). The co will host a conference call to discuss later at 16:30.
CMG is expected to report Q4 earnings tonight after the close. There is a conference call scheduled for 16:30 PM.
CMG is expected to report Q3 earnings tonight after the close. There is a conference call scheduled for 16:30 (the company typically does not provide any EPS or revenue guidance).
Capital IQ consensus calls for Q3 EPS of $1.62 (versus $4.59 last year) on revenue of $1.048 bln (-13% YoY).
For Q3, the Street is expecting Q3 comps to decline by 18%
The company is still seeing the impacts of the E Coli crisis which negatively impacted comps and earnings.
- FY16 Guidance: For 2016, co expects 220 - 235 new restaurant openings & an effective full year tax rate of ~ 38.4%
Pershing Square 9.9% Stake
- On September 6, shares spiked as much as 8% after Pershing Square disclosed a 9.9% active stake, intends to engage in discussions w/ mgmt. and the Board.
- On October 21, Pershing Square affirmed the 9.9% active stake, disclosed the purchase of 2,328,250 shares of Common Stock for an aggregate purchase price of $947,367,983 pursuant to forward purchase contracts described in the Original 13D
PEERS TO WATCH: JACK, PNRA, BWLD, DPZ
Capital IQ EPS consensus: 1.16 Capital IQ Rev consensus: 5.82 bln