A shivering toddler was found clinging on to her drowned Mother in Texas, but an analyst at Wedbush felt it was necessary to remind us that JACK stands to lose $0.007 per day due to its exposure to Houston.
This is what we’ve come down to, after you strip away the humanity — dollars and no sense.
Wedbush feels JACK, FRGI, CHUY, CAKE and BJRI have the most exposure to Hurricane Harvey in their coverage. They est ~20% of Jack in the Box company-owned restaurants are in Houston. They have no Qdoba exposure. They est ~27% of FRGI’s Taco Cabana restaurants are in Houston (14% of total co-owned Pollo+Taco restaurants), 9% of Chuy’s units, 3% of CAKE’s units and 2% of BJRI units. Firm expects SSS growth impact to either be backed-out or quantified, with investors focusing more on margin and EPS impact. They also note that they are not updating their models with this note as the impact is ongoing. Their goal is to put parameters around the possible impact as stores remain closed. Jack in the Box exposure could be as high as $0.007 in EPS per day; FRGI exposure could be as high as $0.005 in EPS per day; CHUY exposure could be as high as $0.004 in EPS per day; CAKE and BJRI exposure could be as high as $0.002 in EPS per day.
On a related note, crack spreads are now +50% since Harvey hit.
WTI continues to trend lower, while gasoline and heating oil move higher — a combination destined to make your cost at the pump more expensive.
If you enjoy the content at iBankCoin, please follow us on Twitter
market very close to spread cracks…
jmvho
And yet, bankers cannot fathom why the majority of the population would be overjoyed to see them lynched in the most horrific of fashions.
I checked with the Chairman of the virtue signalers board at CNN. They said that you are not an acceptable signaler and they ask that you leave it to the professionals.
The Wedbush analysts is just doing his job for fuck’s sake.
Wedbush put the Anal in Analist. I’m surprised $NFLX WASN’t on the list. Was Pachter invokved?