Core Insights - Papa John's reported revenue of $529.17 million for the quarter ended June 2025, marking a year-over-year increase of 4.2% and a surprise of +2.68% over the Zacks Consensus Estimate of $515.36 million [1] - The EPS for the same period was $0.41, down from $0.61 a year ago, with an EPS surprise of +20.59% compared to the consensus estimate of $0.34 [1] Financial Performance Metrics - The number of company-owned restaurants in the U.S. was 541, matching the five-analyst average estimate [4] - Total number of restaurants in North America was 3,517, slightly below the average estimate of 3,518 [4] - Comparable sales growth for system-wide North America restaurants was 2.5%, significantly above the average estimate of 0.2% [4] - Comparable sales growth for North America franchised restaurants was 1%, slightly below the estimated 1.1% [4] - Comparable sales growth for domestic company-owned restaurants was 0.3%, exceeding the average estimate of 0.1% [4] Revenue Breakdown - North America franchise royalties and fees generated $35.36 million, below the average estimate of $47.67 million, but representing a year-over-year increase of +2.8% [4] - Advertising funds revenue was reported at $44.16 million, slightly above the average estimate of $43.8 million [4] - Other revenues were $23.14 million, compared to the estimated $23.08 million, but this reflects a significant year-over-year decline of -62.9% [4] - North America commissary revenues were $214.85 million, below the average estimate of $225.54 million, with a year-over-year increase of +8.4% [4] - Domestic company-owned restaurant sales reached $175.8 million, slightly above the average estimate of $175.45 million, with a year-over-year increase of +1.5% [4] Stock Performance - Papa John's shares have returned -15.5% over the past month, contrasting with the Zacks S&P 500 composite's +1.2% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Insights - Krispy Kreme reported a revenue of $379.77 million for the quarter ended June 2025, reflecting a year-over-year decline of 13.5% and an EPS of -$0.15 compared to $0.05 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $376.41 million by 0.89%, while the EPS fell short of the consensus estimate of -$0.04 by 275% [1] Financial Performance - The company’s shares have returned +4.3% over the past month, outperforming the Zacks S&P 500 composite's +1.2% change, and currently holds a Zacks Rank 3 (Hold) [3] - Geographic revenue breakdown shows U.S. revenue at $230.1 million, down 20.5% year-over-year, while International revenue was $132.76 million, up 6% year-over-year [4] Access Points and Estimates - Total Global Points of Access stood at 18,113, slightly below the average estimate of 18,447 [4] - Specific access points in the U.S. included 6 Doughnut Factories, 68 Fresh Shops, and 9,869 DFD Doors, with most figures aligning closely with analyst estimates [4]

For the quarter ended June 2025, Restaurant Brands (QSR) reported revenue of $2.41 billion, up 15.9% over the same period last year. EPS came in at $0.94, compared to $0.86 in the year-ago quarter.The reported revenue represents a surprise of +2.91% over the Zacks Consensus Estimate of $2.34 billion. With the consensus EPS estimate being $0.97, the EPS surprise was -3.09%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

Financial Data and Key Metrics Changes - In Q2 2025, the company reported a 2.4% year-over-year increase in comparable sales, with system-wide sales growth of 5.3% and organic adjusted operating income (AOI) growth of 5.7% [6][29] - Adjusted EPS increased to $0.94 per share from $0.86, representing a nominal growth of 9.2% [33] - Free cash flow generated in Q2 was $446 million, with total liquidity at $2.3 billion [34][35] Business Line Data and Key Metrics Changes - Tim Hortons, accounting for about 43% of the business, achieved a 3.6% increase in Canadian comparable sales, marking its seventeenth consecutive quarter of positive sales [9][10] - The International segment, representing 26% of adjusted operating income, delivered nearly 10% system-wide sales growth and 4.2% comparable sales growth [14][15] - Burger King U.S. saw a 1.5% increase in comparable sales, while Popeyes experienced system-wide sales growth of 1.9% [20][27] Market Data and Key Metrics Changes - The international business outperformed many global peers, with strong growth in markets like the U.K., Spain, Australia, and Germany [15][72] - Burger King China reported positive comparable sales in Q2, indicating a turnaround after previous declines [19][75] Company Strategy and Development Direction - The company is focused on returning to a simplified business model, including refranchising efforts for Carrol's restaurants and positioning Burger King China for success with a new partner [9][41] - The strategy emphasizes quality, service, and convenience, with disciplined marketing and operational improvements [8][45] - The company aims for at least 8% organic adjusted operating income growth in 2025 [9][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to build on momentum in the second half of the year, despite a dynamic consumer environment [7][9] - The management highlighted the importance of operational consistency and the positive impact of remodels on performance [20][100] - There is optimism regarding the normalization of commodity prices, particularly for beef and coffee, which could benefit operations [36][37] Other Important Information - The company is actively working with Morgan Stanley to identify a new local partner for Burger King China [20] - The capital allocation priorities include investing in brands, maintaining a healthy dividend, and steady deleveraging [35][39] Q&A Session Summary Question: Performance of Carrols restaurants and refranchising plans - Management noted that the outperformance of Carrols restaurants is due to high operational standards and successful remodels, with refranchising efforts starting ahead of schedule [52][56] Question: QSR market conditions in Canada - Management highlighted Tim Hortons' consistent performance and improvement in consumer confidence, indicating no expected deterioration in trends [60][62] Question: International business momentum - Management emphasized strong growth in international markets, particularly in Spain, Germany, and the U.K., with positive developments in Burger King France and China [68][72] Question: Digital strategy and AI capabilities - Management expressed excitement about leveraging AI to enhance customer experience and operational efficiency, indicating ongoing developments in this area [80][82] Question: Value creation for Burger King in the U.S. - Management confirmed a stable value offering strategy, focusing on core items, premium offerings, and relevant value promotions to sustain momentum [86][90]

Financial Data and Key Metrics Changes - Net revenue for the second quarter was $379.8 million, reflecting a decrease of $64.2 million due to the divestiture of Insomnia Cookies and an organic revenue decline of 0.8% driven by lower transactions related to consumer softness [19] - Adjusted EBITDA was $20.1 million, down from $54.7 million last year, impacted by the divestiture and losses from the ended McDonald's USA partnership [19][14] - The bank leverage ratio was 4.5 at the end of the quarter, below the five leverage ratio limit in the credit facility [24] Business Line Data and Key Metrics Changes - In the U.S. segment, retail transactions improved sequentially, but there was a 3.1% organic revenue decline due to expected consumer softness and strategic closures of underperforming doors [20] - Adjusted EBITDA for the U.S. segment was $9.9 million, down from $32.7 million last year, affected by the McDonald's partnership and retail transaction decline [20] - Within international equity markets, organic revenue grew by 5.9%, driven by growth in Canada, Mexico, and Japan, despite 177 strategic door closures [21] Market Data and Key Metrics Changes - The market development segment saw an organic revenue decline of 14.2%, with growth in new markets like Brazil offset by timing of product and equipment sales [22] - Adjusted EBITDA for the market development segment was $8.9 million, with a margin rate roughly flat year over year at 52.9% [22] Company Strategy and Development Direction - The company is focused on profitable U.S. expansion and capital-light international franchise growth, implementing a comprehensive turnaround plan to deleverage the balance sheet [5][26] - The strategy includes refranchising select international markets and improving returns on capital while expanding margins [5][6] - The marketing focus has shifted to the Original Glazed Doughnut, with a new multimedia campaign launched to drive sales [10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in recent quarters but expressed confidence in the turnaround plan and the strength of the leadership team [16][12] - The company expects to see benefits from the turnaround plan within the year, with improved EBITDA and positive cash flow anticipated in the second half [39] Other Important Information - The company has halted the quarterly cash dividend and completed the sale of its remaining interest in Insomnia Cookies to pay down debt [5] - A 15% reduction in G&A roles in the support center has been implemented to reduce costs [9] Q&A Session Summary Question: On DFD doors and profitability management - Management emphasized the importance of high traffic and visibility for sustainable sales and mentioned the shift to third-party logistics for predictable costs [29] Question: Productivity in high-cost retail areas - Management acknowledged opportunities for optimizing efficiency in production hubs and improving the DFD footprint [31] Question: Duration risk in refranchising - Management is targeting one to two deals this year in Japan, Mexico, UK, and Australia to deleverage and pay down debt [33] Question: Simultaneous implementation of turnaround components - Management confirmed that all components of the turnaround plan are already underway and expect benefits within the year [38] Question: Rationalizing DFD doors - Management identified 1,500 underperforming doors for closure and plans to replace them with higher sales doors, expecting a small churn of about 5% annually [41] Question: CapEx and capital-light approach - Management indicated that CapEx as a percentage of revenue is expected to decrease as the company moves to a capital-light model [47] Question: Long-term structure of Krispy Kreme - Management reiterated that Krispy Kreme is primarily a growth story, focusing on maximizing shareholder value through franchising and multichannel opportunities [48]

Financial Data and Key Metrics Changes - In Q2 2025, global system-wide restaurant sales reached $1.26 billion, reflecting a 4% increase in constant currency [30] - North America comparable sales increased by 1%, with transaction comps also growing by 1% [31] - Total revenues for Q2 were $529 million, up 4%, driven by higher commissary revenues [33] - Consolidated adjusted EBITDA declined modestly to approximately $53 million, impacted by increased loyalty and marketing investments [34] Business Line Data and Key Metrics Changes - North America business returned to positive comparable sales, ending the quarter up 1% [9] - International comparable sales increased by 4%, indicating successful transformation initiatives [33] - The number of pizzas ordered in North America increased by 6%, demonstrating effective product focus and value messaging [11] Market Data and Key Metrics Changes - The company experienced sequential improvement across several key international markets, driving 4% comparable sales growth in Q2 [9] - The carryout business showed strong performance in Q2 but started softer in the third quarter, indicating a cautious consumer environment [55][62] Company Strategy and Development Direction - The company is focused on five strategic priorities: improving core product innovation, amplifying marketing messages, investing in technology infrastructure, differentiating customer experience, and evolving the franchisee base [8][26] - A significant emphasis is placed on enhancing the loyalty program and leveraging consumer insights to drive customer engagement [21][22] - The company plans to optimize its supply chain to achieve over $50 million in total cost savings, with approximately 40% expected to be realized by 2026 [27][79] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's path towards profitable growth, citing improved brand strength and strategic investments [6] - The outlook for North America comparable sales remains flat to up 2% for 2025, with expectations for acceleration in the latter half of the year [37] - Internationally, the company raised its 2025 comparable sales growth outlook to a range of 2% to 4% due to operational strength in priority markets [38] Other Important Information - The company is in the process of selling its ownership stake in a joint venture operating 85 restaurants, expected to close by Q4 2025 [26][39] - The company has added approximately 2.7 million new loyalty accounts since the relaunch of its rewards program [21] Q&A Session Summary Question: Insights on regional marketing efforts and frequency trends - Management indicated that they are testing local marketing strategies to enhance returns and support franchisees in key markets [49] Question: North America comps exceeding expectations - Management attributed the positive results to a combination of transaction growth, product innovation, and effective use of the loyalty program [52][54] Question: Four wall economics and supply chain optimization - Management acknowledged the need for continued improvement in margins and highlighted ongoing supply chain optimization efforts to achieve significant savings [59][63] Question: Refranchising transaction details - The transaction involves selling to an existing franchisee in the Mid Atlantic area, with development commitments attached to future agreements [84][88]

Cautionary Note Regarding Forward-Looking Statements Krispy Kreme, Inc. SECOND QUARTER 2025 EARNINGS PRESENTATION AUGUST 7, 2025 Krispy Kreme | 2Q25 Earnings 1 Certain statements made in this presentation and on the conference call that this presentation accompanies are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of forward-looking terminology, including terms such as "plan," "believe," "may," ...

Group 1 - Yum! Brands, Inc. (NYSE: YUM) demonstrated sustained strength in the first half of the year despite persistent inflation and intense competition [1] - The company achieved solid revenue growth and maintained stable margins, which are key attractions for investors [1] - The strategic business model and robust operational framework support Yum! Brands' performance [1]

A Burger King restaurant with the slogan ''Flame Grilling Since 1954'' is seen in Vienna, Austria, on June 7, 2025.Restaurant Brands International on Thursday reported mixed quarterly results, as same-store sales declines for Popeyes were offset by strong demand internationally and at Tim Hortons.Here's what the company reported for the period ended June 30 compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: 94 cents adjusted vs. 97 cents expectedRevenue: ...

Sales at the parent of Burger King and Tim Hortons accelerated in the second quarter, led by growth outside North America https://t.co/Zpsd4Gwihu ...