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Restaurant Brands (QSR) came out with quarterly earnings of $0.75 per share, beating the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.72 per share a year ago.
Burger King, Tim Hortons (TSX:THI) and Popeyes owner Restaurant Brands International (TSX:QSR, NYSE:QSR) saw sales and earnings during its fourth quarter beat guidance, largely driven by a strong performance by its Canadian brand. Sales at Tim Hortons, the Canadian coffee chain, saw an 8.4% increase in same-store sales, well above the 4.7% forecast by analysts.
Restaurant Brands earnings beat expectations as Tim Hortons performed better than expected.
Restaurant Brands International Inc. QSR, +1.62%, the operator of Burger King, Tim Hortons and Popeyes Louisiana, posted net income of $726 million, or $1.60 a share, in the quarter, up from $335 million, or 74 cents a share, in the year-earlier period. Adjusted per-share earnings came to 75 cents, ahead of the 73 cent FactSet consensus.
Restaurant Brands International edged past Wall Street estimates for quarterly revenue on Tuesday, helped by its Burger King chain from efforts to turn around the business.
Restaurant Brands International is one of the largest fast-food restaurant chains in the world that operates Burger King, Tim Hortons, Popeyes, and, since late 2021, Firehouse Subs. The company is scheduled to report its fiscal fourth-quarter results on Tuesday, February 13.
Beyond analysts' top -and-bottom-line estimates for Restaurant Brands (QSR), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended December 2023.
Restaurant Brands (QSR) fourth-quarter 2023 results are likely to be aided by expansion efforts, robust comps growth, strong digital ordering and menu innovation.
Restaurant Brands (QSR) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Remember the bacon boom from years ago, when the porky favorite started finding its way into everything from burgers to ice cream?