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3 trends are dividing restaurant companies into winners and losers

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While most restaurant companies crushed earnings expectations, a number of them fell short of Wall Street's estimates for their quarterly revenue.

Looking ahead, traffic could fall even more in the second half of the year.

For example, McDonald's CEO Chris Kempczinski said the chain is performing well with consumers who make less than $100,000, and with those who make under $45,000. On the other hand, Wendy's CEO Todd Penegor said the burger chain saw diners who make less than $75,000 pull back on their purchases. Fast-casual rival Chipotle has also benefited from diners' perception of its burrito bowls' value. Chipotle has seen low-income consumers return to its restaurants more than they were a year ago, CFO Jack Hartung told analysts.

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