HeyJaredConsumer EQ
Consumer EQ (Earnings Quality) is published by Tiburon Research Group lead analyst Rob Wilson. I take a deeper dive into the financial performance of publicly traded companies in the consumer sector.
- Indexed issues, last 90 days
- 5
- Latest publication
- Aug 23, 2026
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- Earliest in this view
- Jul 5, 2026
Latest issues
Wal-Mart Reports a Rollback That’s Not On Its Store Shelves (opens the original)
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Over the past month or so, retailers have been reporting the beneficial effects of IEEPA tariff refunds.This week, Target (TGT - $165.44) disclosed that it had received $994M of tariff refunds and explicitly isolated the amount as a 1-time adjustment to its Cost of Goods Sold.“Second quarter operating income, which included a $994M benefit from tariff refunds, was $2.6B compared with prior-year operating income of $1.3B. Pretty straightforward and comparable to the tariff refund disclosures acro
Finally on Target? (opens the original)
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Tomorrow, Target (TGT - $152.64) largely kicks-off the Q2 retail sector earnings season. This year, for the most part I’ve been bullish re: TGT. Not so much that the company has truly turned anything around… but, more related to the fact that the company has stopped shooting itself in the foot and expectations were incredibly low entering the year.While expectations are now much higher (+56% YTD), I’m expecting another material EPS ‘beat’ in Q2 2026 along with a modest increase of the company’s
Chipotle Joins the Conversation (opens the original)
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Last week, Chipotle Mexican Grill (CMG - $33.82) reported its Q2 2026 results.For Q2 2026, comp restaurant sales increased +2.2% versus LY. On the quarterly conference call, management took something of a victory lap when suggesting the quarter represented…“Clear evidence that our Recipe for Growth initiatives launched at the start of the year continue to gain traction.” At first glance, that sounds reasonable. But, here’s the problem… On a 2-year ‘stack’ basis, the company’s comp restaurant sa
No Sleep 'Til Brooklyn! (opens the original)
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This week, fiscal Q2 earnings season for consumer/retail largely kicks off. Companies that I’m focused on that report their quarterly results this week include (in order of release day/time) PG, SBUX, CMG, SFM, ADS-DE, AAPL, AMZN, and FND.While my earnings models evolve based upon new information, here’s my current EPS/Revenue estimates for the 30 companies that I officially follow…<a class="image-link image2 is-vi
Seeking Equity Research Intern (opens the original)
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To the readers of my Substack, I have a favor to ask of you… do you know of a recent, highly self-motivated college grad that is struggling to land an entry-level position in equity research or corporate finance?If so, send them my way.In the twilight of my career, I’m a one-person operation. I do it all. But, there’s so much more that I want to dig deeper into and I’ll need some help to do just that.This is a fully remote job. It’s 40 hours per week. I’ll work with this individual via Zoom. The
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