Here are trending economic and food industry data points, as well as major economic and company earnings releases for the coming week: American Families Plan, restaurant reservations, McDonalds (MCD), Archers-Daniel-Midland Company (ADM), Kraft Heinz Company (KHC) and moreTrending Economic News
President Biden unveiled the $1.8 trillion American Families Plan. The proposal combines $1 trillion in spending with $800 billion in tax cuts and credits for middle- and lower-income families. Biden proposed paying for the plan by reversing the 2017 tax cuts for the top 1% and raising capital gains tax for income greater than $1mil. Here’s what is in the American Families Plan:
Childcare:Having low- and middle-income families pay <= 7% of their income on childcare (> For more information on CPI/PPI and Retail Sales, go to Food Institute Economic Benchmarking.Select Food & Beverage Industry Data Points
Restaurant Industry
OpenTable restaurant diner growth data (2019 baseline): U.S. = -21.84% as of Apr 28, 2021
McDonald’s (MCD) reported Q1 2021 resultsConsolidated Revenues: $5.1 billion (+9% vs. last year)
Global Comparable Sales: +7.5%
Business Segment Performance (Comp Sales):U.S.: +13.6%
International: +0.6%
Dev. Licensed Markets & Corp: +6.4%Operating Income: $2.28 billion (+35% vs. last year)
Net Income: $1.5 billion (+39% vs. last year)Key Takeaways:Q1 2021 revenues surpassed Q1 2019 levels (i.e., pre-pandemic)
Guest counts remained negative for all segments, but average check size grew
Marketing efforts continue to be a primary strategy for growth, with the introduction of the BTS Meal on April 19, following on the heeferretts iron 325 mgls of the Travis Scott Meal and J Balvin MealAgriculture Food Processing Industry
Archers-Daniel-Midland Compcitracal citrateany (ADM) reported Q1 2021 resultsTotal Revenues: $18.9 billion (+26% vs. last year)
Operating Income: $1.1 billion (+84% vs. last year)
Business Segment Performance:Ag Services and Oilseeds: $777 million (+84%)
Carbohydrate Solutions: $259 mmagnesium citrate for overactive bladderillion (+281%)
Nutrition: $154 million (+8%)
Other: $9 million (-18%)Key Takeaways:Strong demand geographically and domestically as countries recover from the COVID-19 pandemic
Key areas of growth trends highlighted:Higher corn, soybean, and wheat exports (i.e., tight supply / demand) and economies recover signaling higher profits
Global foodservice recovery
Plant-based protein expected to rise +12% this year
Health & nutrition continue to be a major focus area for the company
Transition from non-renewable to renewable sources of biofuelCPG Industry
Kraft Heinz Company (KHC) reported Q1 2021 resultsNet Sales: $6.4 billion (+3.9% vs. last year)
Operating Income: $1.1 billion (+41.3% vs. last year)
Geographic Segment Performance:United States: $4.6 billion (+2.5%)
International: $1.4 billion (+7.2%)
Canada: $392 million (+8.8%)Key Takeaways:KHC continues to rationalize its product portfolio to focus on customer needs vs. product categories
Planters divestitucitracal plus magnesiumre is part of the portfolio reorganization
Management is prioritizing 4 higher growth segments (targeting health and wellness, convenience, and taste enhancements):Taste Elevation
Easy Meals Made Better
Real Food Snacking
Fast Fresh MealsEarnings Calendar of Select CompaniesAnnounce DateCompany
EPS Estimate
Previous Quarter EPS5/3/2021MercadoLibre, Inc. (MELI)$                0.04$               (1.02)5/4/2021Bunge Limited (BG)$                1.54$                3.055/4/2021Sysco Corporation (SYY)$                0.20$                0.175/4/2021Lancaster Colony Corporation (LANC)$                1.24$                1.625/4/2021Darling Ingredients Inc. (DAR)$                0.62$                0.455/4/2021Ingredion Incorporated (INGR)$                1.62$                1.755/5/2021Monster Beverage Corporation (MNST)$                0.61$                0.625/5/2021Performance Food Group Company (PFGC)$                0.28$                0.135/6/2021Beyond Meat, Inc. (BYND)$               (0.19)$               (0.34)5/6/2021Kellogg Company (K)$                0.96$                0.865/6/2021Sprouts Farmers Market, Inc. (SFM)$                0.60$                0.59zinc citrato solaray5/6/2021Post Holdings, Inc. (POST)$                0.55$                0.725/6/2021Shake Shack Inc. (SHAK)$               (0.08)$               (0.03)5/6/2021Papa Johns International, Inc. (PZZA)$                0.55$                0.285/7/2021DraftKings Inc. (DKNG)$               (0.41)$               (0.68)Source: Bloomberg, CNBC, Yahoo Finance, Food Institute