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Analyst
Brian Vaccaro
Period: Reporting periods mapped to calendar 2025 Q1 – 2026 Q3 (7 quarters).
- Questions
- 16on tracked calls
- Challenge rate
- 0%none of 16 questions
- Companies
- 3questioned at least once
- Reporting periods
- 7with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 16 of 16 questions from 3 companies
DRIDarden Restaurants9 questions · 6 reporting periods · 0 of 9 challenging
Calendar 2026 Q2
How is the lighter portion menu performing? It sounds like the preference continues to build
Show response
Rick said preference is low-to-mid single digits, concentrated at weekend lunch; G&A guided to just north of $500M.
Calendar 2026 Q1
Are you starting to see a tick up in closures
Show response
Rick noted some bankruptcies but not a significant closure wave yet. Restaurants losing margin and traffic eventually can't pay rent. Good brands will pick up the slack.
Where do you see your G&A shaking out for the year in your updated guidance
Show response
Raj confirmed ~$500M full year. Q4 roughly $30M higher than Q3 due to extra week (~$10M) and higher incentive comp from strong implied earnings growth.
Calendar 2025 Q4
Was the sales mix up on NEP year on year
Show response
Rick confirmed slightly higher NEPB mix, record refill rate, slightly fewer protein buy-ups. Lighter portions still around 1.5% mix. Frequency increase will take time to materially impact mix.
could you just give a quick update on where you see G&A is shaking out
Show response
Raj confirmed full year G&A still approximately $500M. Q4 approximately $15-20M higher than Q3 due to 53rd week and seasonal factors.
Calendar 2025 Q3
could you break out the Olive Garden comps between traffic and check
Show response
Raj broke down OG: traffic 2.8% + catering 80bp = 3.6% total traffic. Pricing 1.9%. Uber fees ~40bp. Check expected to slightly exceed pricing going forward due to delivery fees.
I'm curious to what degree that also reflects some reinvestments
Show response
Raj clarified labor cost increase driven by inflation 3.1% + traffic ~3% growth. Actually getting leverage. Speed investments don't translate to labor deleverage because of throughput gains.
Calendar 2025 Q2
can you walk through the traffic and check dynamics at LongHorn
Show response
Raj provided LongHorn breakdown: pricing 3.3%, traffic 3.4%, check flat to pricing, total SSS 6.7%.
Calendar 2025 Q1
I just wanted to piggyback on Jeff's question just about the average versus median performance
Show response
Raj provided Olive Garden comp detail showing industry gap widened throughout the quarter, with strongest performance in January and February.
CAVACAVA Group, Inc.6 questions · 6 reporting periods · 0 of 6 challenging
Calendar 2026 Q3
are there other airports or nontraditional sites in your pipeline over the next 12 to 18 months?
Show response
Vaccaro asked about airport and nontraditional locations in the pipeline; Schulman said airports are licensed-partner sites and not an accelerated initiative today.
Calendar 2026 Q2
just curious what you would attribute that to Are there tangible improvements in execution, order accuracy
Show response
Brett credited the kitchen display screen rollout for better 3P/1P execution and accuracy; Tricia said AGMs are approaching above 50% of locations.
Calendar 2026 Q1
how many active users were in the program, either current or exiting '25? And could you frame the percent of sales
Show response
Partial: quantified loyalty at ~1/3 of overall sales but declined to disclose the active-user count.
Calendar 2025 Q4
I'm curious if you're seeing any outsized softness in that region during the government shutdown
Show response
No initial shutdown impact, but some softness has crept in as government paychecks are delayed, not characterized as acute or severe.
Calendar 2025 Q3
curious if you're seeing any differences from a daypart or day of the week perspective.
Show response
CFO reported stable dayparts and consistent performance across market types, a slight digital-mix uptick led by in-restaurant pickup, and framed sales transfer as a natural, value-accretive part of growth.
Calendar 2025 Q1
that's 3-year comp thinking maybe through that lens, do you expect to be in the high 30s in Q1 as well?
Show response
CFO confirmed a high-30s Q1 three-year stack and cited resilient demand and AUV gains across all regions.
CMGChipotle Mexican Grill1 question · 1 reporting period · 0 of 1 challenging
Calendar 2026 Q2
is it right to think ballpark that you think the underlying trend is up about 3% but that you assumed this 2% headwind
Show response
Adam confirmed the plus 1% Q3 guide embeds a sustained cyclospora headwind on an underlying trend up about 3%.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| DRI Darden Restaurants | 9 | 0%none of 9 questions |
| CAVA CAVA Group, Inc. | 6 | 0%none of 6 questions |
| CMG Chipotle Mexican Grill | 1 | —Rate withheld: fewer than 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2025 Q1 | 2 | 0%none of 2 questions | 2 |
| 2025 Q2 | 1 | 0%none of 1 question | 1 |
| 2025 Q3 | 3 | 0%none of 3 questions | 2 |
| 2025 Q4 | 3 | 0%none of 3 questions | 2 |
| 2026 Q1 | 3 | 0%none of 3 questions | 2 |
| 2026 Q2 | 3 | 0%none of 3 questions | 3 |
| 2026 Q3 | 1 | 0%none of 1 question | 1 |
- 2025 Q12 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2025 Q21 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q33 questions · challenge rate 0% (none of 3 questions) · 2 companies
- 2025 Q43 questions · challenge rate 0% (none of 3 questions) · 2 companies
- 2026 Q13 questions · challenge rate 0% (none of 3 questions) · 2 companies
- 2026 Q23 questions · challenge rate 0% (none of 3 questions) · 3 companies
- 2026 Q31 question · challenge rate 0% (none of 1 question) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Demand11
- Margin3
- Revenue Growth3
- Guidance Reliability2
- Product Launch1
- Competitive Dynamics1
- Geographic Expansion1
- Pricing1
- Innovation & R&D1
- Labor Market1
Show all 12 topics
- Subscriber Growth1
- Macroeconomic1