TWE has run hard, but the result was excellent.
And they are still quite well down on the pre-pandemic level of earnings.
Growth outlook (mgmt commentary) is strong, and pricing power (brands) whilst inflation still present is handy.
That profit margin has been steadily expanding, and outside of COVID, or unusual weather, isn’t wildly cyclical.
A return to pre-COVID levels of outdoor dining, replacing the China impacted supply, general de-bottlenecking/lower freight, and organic growth should help.
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