As the Q4 earnings season comes to a close, it’s time to take stock of this quarter's best and worst performers in the traditional fast food industry, including Papa John's (NASDAQ:PZZA) and its peers.

Traditional fast-food restaurants are renowned for their speed and convenience, boasting menus filled with familiar and budget-friendly items. Their reputations for on-the-go consumption make them favored destinations for individuals and families needing a quick meal. This class of restaurants, however, is fighting the perception that their meals are unhealthy and made with inferior ingredients, a battle that's especially relevant today given the consumers increasing focus on health and wellness.

The 15 traditional fast food stocks we track reported a decent Q4; on average, revenues beat analyst consensus estimates by 0.6%. Stocks have been under pressure as inflation (despite slowing) makes their long-dated profits less valuable, but traditional fast food stocks held their ground better than others, with the share prices up 2.6% on average since the previous earnings results.

Papa John's (NASDAQ:PZZA)

Founded by the eclectic John “Papa John” Schnatter, Papa John’s (NASDAQ:PZZA) is a globally recognized pizza delivery and carryout chain known for “better ingredients” and “better pizza”.

Papa John's reported revenues of $571.3 million, up 8.6% year on year, falling short of analyst expectations by 1.2%. It was a strong quarter for the company, with an impressive beat of analysts' gross margin estimates and a solid beat of analysts' earnings estimates.

“Papa Johns finished 2023 with a solid fourth quarter and achieved record system-wide sales for the year, marking this as our fourth consecutive year of positive North America comparable restaurant sales,” said Rob Lynch, Papa Johns President and CEO.

The stock is down 8.9% since the results and currently trades at $63.88.

Is now the time to buy Papa John's? Access our full analysis of the earnings results here, it's free.

Best Q4: Yum China (NYSE:YUMC)

One of China’s largest restaurant companies, Yum China (NYSE:YUMC) is an independent entity spun off from Yum! Brands in 2016.

Yum China reported revenues of $2.49 billion, up 19.4% year on year, outperforming analyst expectations by 7%. It was a stunning quarter for the company, with an impressive beat of analysts' revenue estimates, driven by better-than-expected same store sales and a higher number of locations. Profitability was also solid, leading to an EPS beat.

Yum China achieved the biggest analyst estimates beat among its peers. The stock is up 2.4% since the results and currently trades at $38.37.

Is now the time to buy Yum China? Access our full analysis of the earnings results here, it's free.

Weakest Q4: Starbucks (NASDAQ:SBUX)

Started by three friends in Seattle’s historic Pike Place Market, Starbucks (NASDAQ:SBUX) is a globally-renowned coffeehouse chain that offers a wide selection of high-quality coffee, beverages, and food items.

Starbucks reported revenues of $9.43 billion, up 8.2% year on year, falling short of analyst expectations by 2.1%. It was a weak quarter for the company, with a miss of analysts' revenue and earnings estimates.

The stock is down 7.2% since the results and currently trades at $87.35.

Read our full analysis of Starbucks's results here.

Carrols (NASDAQ:TAST)

With a reputation for reviving underperforming locations, Carrols Restaurant Group (NASDAQ:TAST) is the largest franchisee of Burger King restaurants and also a major Popeyes franchisee.

Carrols reported revenues of $475.8 million, up 7.2% year on year, surpassing analyst expectations by 1.5%. It was a stunning quarter for the company, with an impressive beat of analysts' earnings estimates.

The stock is up 52.5% since the results and currently trades at $9.48.

Read our full, actionable report on Carrols here, it's free.

McDonald's (NYSE:MCD)

Arguably one of the most iconic brands in the world, McDonald’s (NYSE:MCD) is a fast-food behemoth known for its convenience, value, and wide assortment of menu items.

McDonald's reported revenues of $6.41 billion, up 8.1% year on year, falling short of analyst expectations by 0.7%. It was a solid quarter for the company, with an impressive beat of analysts' gross margin estimates and a narrow beat of analysts' earnings estimates .

The stock is down 9.8% since the results and currently trades at $268.01.

Read our full, actionable report on McDonald's here, it's free.

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