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Analyst
Jeff Farmer
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q3 (8 quarters; questions recorded in 6).
- Questions
- 10on tracked calls
- Challenge rate
- 0%none of 10 questions
- Companies
- 2questioned at least once
- Reporting periods
- 6with 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 10 of 10 questions from 2 companies
DPZDomino's6 questions · 6 reporting periods · 0 of 6 challenging
Calendar 2026 Q3
can you just level set us on what the U.S. franchisees are seeing on that store level EBITDA in 2026?
Show response
Reddy confirmed a year-on-year decline in franchisee profit dollars but declined to quantify it before the Q4 call.
Calendar 2026 Q1
which income cohorts or channels would you say saw trends fall for this below your expectations
Show response
Sandeep confirmed narrow band across all income cohorts, all grew. Broader QSR pressure exists on low-income. Competitive activity made a difference but is transitory. Plans through balance of year account for this. Russell added: short-term competitive headwind is long-term tailwind.
Calendar 2025 Q4
what menu pricing is assumed in that 3% same store sales guidance for 2026 coming off the flat pricing in Q4
Show response
Sandeep confirmed low single digit pricing embedded in 2026 guide. Russell noted no GLP-1 impact seen on the business. Dinner is sharing occasion which may insulate. With 34 million pizza combinations, menu innovation can adapt if needed. Watching pill-form development closely.
Calendar 2025 Q2
what would you guys consider to be the pros and cons of this value-focused backdrop for your Domino's brand
Show response
Russell framed value-driven environment as pro for Domino's given best economics, supply chain, and ad budget. Headwinds for others are tailwinds for Domino's. Built to sustain this indefinitely.
Calendar 2025 Q1
I'm just curious what your exposure to both the lower-income and Hispanic customer demographic is in the US
Show response
Russell declined specific demographic breakouts but noted lower-income impact is QSR-wide, not Domino's-specific. Emphasized Domino's supply chain scale, $500M+ ad budget, and franchisee economics enable sustained value leadership.
Calendar 2024 Q4
your peers have clearly suggested that the demand headwinds that had largely been isolated to the lower-income cohort for most of 2024
Show response
Russell introduced new framework of down-switching, out-switching, and up-switching dynamics in QSR. Emphasized Domino's value advantage is sustainable because customers actually want what's offered in mix-and-match.
DRIDarden Restaurants4 questions · 3 reporting periods · 0 of 4 challenging
Calendar 2026 Q1
I am curious in terms of the concept's total off-premise mix
Show response
Raj confirmed OG off-premise at 29% (up from 26% prior year). LongHorn at 15% (up 1 point). Q3 typically a high off-premise quarter due to catering.
Calendar 2025 Q4
how are you guys thinking about the fiscal 2026 restaurant level margin versus fiscal 2025
Show response
Raj referred to long-term framework of earnings after tax margin flat to +20bp. Guidance implies within that range. Manages business holistically, not individual line items.
are there areas where you're increasing reinvestment relative to prior expectation
Show response
Rick confirmed lighter portions rollout accelerated faster than planned (originally expected to extend into next fiscal year). Also continuing to price below inflation.
Calendar 2025 Q1
I'm just curious what your read through is on the divergence and what's causing that pretty outsized divergence?
Show response
Raj attributed median-average divergence to one or two outlier brands pulling the average up significantly.
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 |
|---|---|---|
| DPZ Domino's | 6 | 0%none of 6 questions |
| DRI Darden Restaurants | 4 | 0%none of 4 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 |
|---|---|---|---|
| 2024 Q4 | 1 | 0%none of 1 question | 1 |
| 2025 Q1 | 2 | 0%none of 2 questions | 2 |
| 2025 Q2 | 1 | 0%none of 1 question | 1 |
| 2025 Q3 | No questions recorded | — | — |
| 2025 Q4 | 3 | 0%none of 3 questions | 2 |
| 2026 Q1 | 2 | 0%none of 2 questions | 2 |
| 2026 Q2 | No questions recorded | — | — |
| 2026 Q3 | 1 | 0%none of 1 question | 1 |
- 2024 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 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 Q3No questions recorded
- 2025 Q43 questions · challenge rate 0% (none of 3 questions) · 2 companies
- 2026 Q12 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2026 Q2No questions recorded
- 2026 Q31 question · challenge rate 0% (none of 1 question) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Demand4
- Margin2
- Pricing2
- Competitive Dynamics2
- Macroeconomic2
- Revenue Growth1
- Product Launch1
- Capital Allocation1
- Innovation & R&D1
- Guidance Reliability1