Sign in

Brian Harbor

Research Analyst at Morgan Stanley

Brian Harbour is an Executive Director and Senior Equity Research Analyst at Morgan Stanley, specializing in the restaurant and food distribution sectors, where he leads coverage of major public companies including McDonald's, Starbucks, Domino's Pizza, Wingstop, and Chipotle. Harbour has covered approximately 29 stocks, with a success rate near 49% and an average return per recommendation of -0.3%, though notable individual calls, such as a buy on CAVA Group, have generated returns exceeding 240%. After earning his degree from Georgetown University, he began his finance career and has spent over a decade at Morgan Stanley, becoming known for detailed earnings commentary and influential industry insights. He holds the Chartered Financial Analyst (CFA) designation and is FINRA registered, ensuring strong professional credentials.

Brian Harbor's questions to Texas Roadhouse (TXRH) leadership

Question · Q3 2025

Brian Harbor asked if the favorable trends seen in labor, other operating expenses, and G&A lines are expected to continue into Q4 and 2026, considering any impact from the extra week in the prior year.

Answer

Michael Bailen, VP of Investor Relations, confirmed that if top-line trends persist, he expects leverage on labor, other operating expenses, and G&A in Q4 and potentially into 2026. He attributed this to operators effectively managing staffing and favorable labor hour growth relative to traffic.

Ask follow-up questions

Question · Q3 2025

Brian Harbor inquired about the expectation for labor, other operating expenses, and G&A lines to remain favorable in Q4 2025 and potentially into 2026.

Answer

Michael Bailen, VP of Investor Relations, indicated that if top-line trends continue, he expects leverage on labor, other operating expenses, and G&A in Q4 and potentially 2026. He highlighted strong operator performance in staffing, leading to favorable labor hour growth relative to traffic, and anticipated low single-digit dollar per store week growth for other operating expenses.

Ask follow-up questions

Brian Harbor's questions to MCDONALDS (MCD) leadership

Question · Q3 2025

Brian Harbor asked if McDonald's is gaining market share across different income cohorts. He also inquired whether the value push has been more effective at the higher end of the income spectrum, and if digital initiatives and other product innovations have proven effective across various income groups.

Answer

CEO Chris Kempczinski confirmed that McDonald's is gaining share with upper-income consumers, whose industry traffic is up almost double digits. He attributed this to a combination of digital programs, marketing, and brand strength. He emphasized that value is important for all income levels, not just low-income consumers. He stated that continuing with Extra Value Meals (EVMs) and maintaining a competitive McValue platform benefits all consumers, including upper-income individuals who also seek good value, even if they have more discretionary income.

Ask follow-up questions

Best AI for Equity Research

Performance on expert-authored financial analysis tasks

Fintool-v490%
Claude Sonnet 4.555.3%
o348.3%
GPT 546.9%
Grok 440.3%
Qwen 3 Max32.7%