Looking back on traditional fast food stocks' Q3 earnings, we examine this quarter's best and worst performers, including Carrols (NASDAQ:TAST) 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 Q3; on average, revenues beat analyst consensus estimates by 0.6%. Valuation multiples for growth stocks have reverted to their historical means after reaching highs in early 2021, but traditional fast food stocks held their ground better than others, with the share prices up 3.5% on average since the previous earnings results.

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, topping analyst expectations by 1.5%. It was a stunning quarter for the company, with an impressive beat of analysts' earnings estimates.

Deborah Derby, President and Chief Executive Officer of Carrols, commented, “We are pleased to report yet another quarter of exceptional performance for Carrols, demonstrated by strong comparable sales growth at our Burger King and Popeyes restaurants, along with a 74% increase in our restaurant-level profitability. We were thrilled to achieve positive traffic growth at our Burger King restaurants earlier than anticipated, with great traction on recent product launches, such as the BK Royal Crispy Wraps, which significantly outperformed expectations in the third quarter. Equally important, we delivered continued improvement in our speed of service and guest satisfaction scores, as our team members worked hard to provide our guests with an excellent experience in our restaurants.”

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

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

Best Q3: 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 scored the biggest analyst estimates beat among its peers. The stock is up 6.8% since the results and currently trades at $39.99.

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

Weakest Q3: 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 7.1% since the results and currently trades at $87.39.

Read our full analysis of Starbucks's results here.

Domino's (NYSE:DPZ)

Founded by two brothers in Michigan, Domino’s (NYSE:DPZ) is a globally recognized pizza chain known for its creative marketing and fast delivery.

Domino's reported revenues of $1.40 billion, flat year on year, falling short of analyst expectations by 1.3%. It was a weak quarter for the company, with a miss of analysts' revenue estimates.

The stock is up 14.9% since the results and currently trades at $498.1.

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

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.

The stock is down 8.5% since the results and currently trades at $64.2.

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

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