| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | July 29, 2026 | 4/12 | 1 high, 5 medium, 3 low flags | 0 | 0 | Call sheet → |
| Q1'26 | April 29, 2026 | 9/12 | 2 medium, 4 low flags | 3 | 1 | Call sheet → |
| Q4'25 | February 3, 2026 | 10/12 | 2 medium, 4 low flags | 7 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Pending | Expand partner‑operated footprint in Mexico and South Korea this year Monterrey opened; Seoul and Mexico City still in pipeline. |
| Q2'26 | Pending | New restaurant cash‑on‑cash return ~60% in year‑two No new data; prior quarter only reiterated. |
| Q2'26 | Pending | Pricing impact to rise to mid‑2% in Q3 Q2 pricing impact 1.6%; Q3 forecast not yet realized. |
| Q2'26 | Pending | Frictionless in‑restaurant rewards pilot to launch in August Pilot announced, no enrollment or spend lift disclosed. |
| Q2'26 | Pending | Digital on‑time percentage to improve in Q3 No baseline disclosed; cannot assess delivery. |
| Q2'26 | Pending | HEAP will be installed in ~2,000 restaurants by year‑end Current install count ~1,000; pacing at 30‑45 per week, full rollout likely into 2027. |
| Q1'26 | Pending | About flat comp sales for full year 2026 Q1 came in at +0.5%, trending above guidance but maintaining conservative outlook |
| Q1'26 | Delivered | Four LTOs in 2026 vs historical lower cadence On track with Chicken Al Pastor, Cilantro-lime sauce, Honey Chicken launched |
| Q1'26 | Delivered | Rewards program relaunch in spring 2025 Launched with new features, seeing 25% increase in daily enrollments |
| Q1'26 | Delivered | Europe positive comps and improved economics Achieved positive comps and 40% ROI in year 2, unlocking growth |
| Q1'26 | Pending | Partner-operated openings in Middle East, Mexico, Singapore, South Korea in 2025 Middle East delivered 11 openings, others still pending for 2026 with some delays noted |
| Q1'26 | Missed | About 2,000 heat equipment locations by year-end 2025 Only reached 350 by Q4, now saying 2,000 by end of 2026. Significant delay. |
| Q4'25 | Delivered | Will have more to share on rewards program in coming quarters Detailed spring relaunch plans with in-restaurant focus |
| Q4'25 | Delivered | Full year comps to decline in low single-digit range -1.7% for full year, within guided range |
| Q4'25 | Delivered | Europe will begin expanding new restaurant openings in 2026 Confirmed Central London/Frankfurt returns justify expansion |
| Q4'25 | Delivered | Labor cost in high 25% range for Q4 Hit 25.5%, within guided range |
| Q4'25 | Delivered | Cost of sales in high 30% range for Q4 Came in at 30.2%, guidance was accurate |
| Q4'25 | Delivered | Marketing costs around 3% of sales for Q4 and full year Hit 3.5% in Q4, met full year target with elevated spend |
| Q4'25 | Exceeded | 315 to 345 new restaurants in 2025 Opened 345 total (334 company-owned + 11 partner), hit top of range |
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