Burger King’s parent falls short on earnings
Restaurant Brand International restaurants’ Tim Hortons and Popeyes.
Randy Risling | Toronto Star | Getty Images
Restaurant Brands International on Monday reported quarterly earnings that fell short of analysts’ expectations.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: 55 cents, adjusted, vs. 58 cents expected
- Revenue: $1.27 billion vs. $1.26 billion expected
Burger King’s parent company reported fiscal first-quarter net income of $246 million, or 53 cents per share, down from $278.6 million, or 59 cents per share, a year earlier.
Excluding items, Restaurant Brands earned 55 cents per share, missing the 58 cents per share expected by analysts surveyed by Refinitiv.
Net sales rose 1% to $1.27 billion, beating expectations of $1.26 billion.