Boston Pizza Royalties Income Fund (BPZZF)
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Boston Pizza Royalties Income Fund (BPF.UN:CA) Q3 2025 Earnings Call Transcript
Boston Pizza Royalties Income Fund ( BPF.UN:CA ) Q3 2025 Earnings Call November 10, 2025 11:30 AM EST Company Participants Michael Harbinson - Chief Financial Officer of Boston Pizza International Inc. Jordan Holm - Director & President of Boston Pizza GP Inc. Presentation Operator Hello. This is the Chorus Call conference operator.
Boston Pizza: Distributions Grow As Fundamentals Strengthen (Rating Upgrade)
Boston Pizza's same-store sales growth hit 6.4% year-over-year, its strongest since 2012, driving robust distributable cash and safer payout ratios. Distribution hikes and improved cash flows have pushed the stock to outperform, with a double-digit total return since my last update. Modeling a 2-3% perpetual distribution growth rate, I see a price target above $30, implying 42% upside from current levels plus a 6.6% yield.
Boston Pizza Royalties Income Fund (BPZZF) Q2 2025 Earnings Call Transcript
Boston Pizza Royalties Income Fund (OTC:BPZZF) Q2 2025 Earnings Conference Call August 14, 2025 11:30 AM ET Company Participants Jordan Holm - Director & President of Boston Pizza GP Inc. Michael Harbinson - Chief Financial Officer of Boston Pizza International Inc. Conference Call Participants Nick Corcoran - Acumen Capital Finance Partners Limited, Research Division Operator Hello. This is the Chorus Call conference operator.
Boston Pizza: Don't Sell Yet After The Rally, The Price Is Still Justifiable
Casual dining, especially full-service restaurants, saw a surge in traffic due to value deals, outperforming fast-casual spots in early 2024. Boston Pizza's same-store sales grew 4.4% YoY, driven by targeted promotions and value-for-money deals, despite macroeconomic pressures. Distributable cash per unit is CAD$0.344, with a payout ratio over 100%, suggesting slower dividend growth unless same-store sales or new openings increase.
Boston Pizza Royalties Income Fund (BPZZF) Q1 2025 Earnings Call Transcript
Boston Pizza Royalties Income Fund (OTC:BPZZF) Q1 2025 Earnings Conference Call May 9, 2025 11:30 AM ET Company Participants Michael Harbinson - Chief Financial Officer Jordan Holm - President Conference Call Participants Nick Corcoran - Acumen Capital Operator Hello. This is the Chorus Call conference operator.
Boston Pizza: More Than Ever, Same-Store Sales Matter For Dividend Sustainability
Boston Pizza's CAD$15 Meal Deal significantly boosted same-store sales by 3.4% in Q4, reversing a 0.6% decline in Q3. Despite higher sales, Boston Pizza's distributable cash decreased year-over-year, highlighting limited room for dividend growth with a payout ratio near 100%. To sustain low-single-digit distribution growth, Boston Pizza must maintain same-store sales growth, primarily driven by menu price increases, which could impact traffic.
Boston Pizza Royalties Income Fund (BPZZF) Q4 2024 Earnings Call Transcript
Boston Pizza Royalties Income Fund (OTC:BPZZF) Q4 2024 Results Conference Call February 14, 2025 11:30 AM ET Company Participants Michael Harbinson - Chief Financial Officer Jordan Holm - President Conference Call Participants Nick Corcoran - Acumen Capital Operator Hello, this is the Chorus Call Conference Operator. Thank you for standing by.
Boston Pizza: A Dividend Crust That's Neither Too Thick Nor Too Thin
Boston Pizza offers monthly dividends and buybacks by generating revenue from royalties based on sales from its franchised locations. Despite a slight decline in same-store sales and restaurant closures, Boston Pizza maintains a robust dividend yield of almost 8%. Using the Gordon Model, the stock's present value suggests it is fairly valued, with limited margin of safety under optimistic scenarios.
Boston Pizza: 7.8% Yield But Weakness Showing Up In Numbers
Boston Pizza Income Fund Q3-2024 results show a decrease in total franchise sales, royalty income, and same-store sales. Higher menu prices have increased average checks but reduced traffic, impacting overall visitation and sales. We expect negative revisions to 2025 cash flow and are sticking to our thesis.
Boston Pizza Royalties Income Fund (BPZZF) Q3 2024 Earnings Call Transcript
Boston Pizza Royalties Income Fund (OTC:BPZZF) Q3 2024 Earnings Conference Call November 7, 2024 11:30 AM ET Company Participants Michael Harbinson - Chief Financial Officer Jordan Holm - President Conference Call Participants Megan Bergen - Acumen Capital Partners Operator Hello, this is the Chorus Call Conference Operator. Thank you for standing by.
Boston Pizza: 8% Yield But Maybe Time For The Exit
Boston Pizza Royalties Income Fund's has moved up since our last coverage. Q2-2024 results were not too bad, but the payout ratio is now on the high side. We are moving this to a Sell as risk levels increase late in the economic cycle.
Boston Pizza: A Look At The 8.3% Yield After Q1 Results
Boston Pizza Royalties Income Fund earns 4% royalties on gross sales and 1.5% in distribution income. The fund has kept afloat and outperformed other top-line royalty plays. We look at the recent results and update our thesis.
