Restaurant Brands International On Thursday, the quarterly results were mixed. The weak performance of Popeyes offset the positive progress brought about by the turnaround of Burger King's US business.
The following is a comparison of the company's performance with Wall Street's expectations, based on the survey of analysts conducted by LSEG.
- Earnings per share: $1.10 after adjustment, expected to be $1.09
- Revenue: $2.53 billion, expected to be $2.54 billion.
Restaurant Brands reports that as of the third quarter of the fiscal year, net profit attributable to common shareholders was $542 million, or $1.54 per share, which is higher than the $315 million, or 96 cents per share, in the same period of the previous year.
After excluding certain non-cash items, the company's earnings per share were $1.10.
Net revenue increased by 3.1% to $2.53 billion. When calculating across all the company's restaurants, same-store sales grew by 3.8%.
The most prominent performer was Burger King, with same-store sales in the United States increasing by 8.4%. This hamburger chain brand's home market is in a phase of turnaround that has lasted for several years, with a focus on improving food quality and store performance.
Tim Hortons saw a 1.8% increase in same-store sales in its home market of Canada.
Popeyes has once again become the worst-performing brand under Restaurant Brands. The same-store sales of this chicken franchise chain in the United States have declined by 2.2%.
In recent quarters, Popeyes has been under pressure, with other chicken fried restaurant competitors attracting its customers through discounts. Restaurant Brands is attempting to revitalize its business by improving store operations and focusing on its core menu.
The same-store sales of the company's international business increased by 3.9%, mainly driven by Burger King stores.
