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Burger King-Parent Restaurant Brands Beats Quarterly Estimates on Value ...
Adjusted profit rose to 86 cents a share as Burger King same-store sales climbed 5.8% and revenue increased 7%, the company said.
- On Wednesday, Restaurant Brands International Inc. reported first-quarter net income of $338 million, or 97 cents per share, as revenue rose 7% to $2.26 billion.
- Strong international growth and a successful turnaround at Burger King U.S. fueled the results, with Burger King reporting same-store sales growth of 5.8% driven by renovated restaurants and upgraded Whopper ingredients.
- Tim Hortons' same-store sales ticked up 1.6% during the quarter, while Popeyes remained the portfolio's laggard, reporting same-store sales declines of 6.5%.
- Excluding non-recurring expenses, the company earned 86 cents per share, topping the 82 cents Wall Street analysts expected, while overall comparable sales grew 3.2%.
- Popeyes is focusing on its operations and core menu items to address the steeper-than-forecast sales decline and revive performance.
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Winnipeg Free Press+3 Reposted by 3 other sources
Restaurant Brands International reports Q1 profit and revenue up from year ago
Breaking News, Sports, Manitoba, Canada
·Winnipeg, Canada
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Brew Markets — Restaurant Brands International Beats Earnings: Inside the Fast-Food Turnaround
Episode 180: Today, Ann unpacks how Burger King helped drive better-than-expected results for parent company Restaurant Brands International, even as other brands in the portfolio struggled to keep pace. Then, we survey earnings from Disney, Uber, CVS Health, and Compass, all trading higher after reporting results. Finally, a look at Victoria’s Secret’s proxy fight with one of its biggest shareholders, who is pushing for a board seat.
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Total News Sources12
Leaning Left3Leaning Right0Center5Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
L 38%
C 62%
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