Restaurant Brands International earnings top estimates, fueled by Burger King turnaround

CNBC Top News ·

Restaurant Brands International earnings top estimates, fueled by Burger King turnaround

Burger King fast food hamburger restaurant in Miami, Fla. Jeff Greenberg | Universal Images Group | Restaurant Brands International on Wednesday reported better-than-expected quarterly earnings and …

Burger King fast food hamburger restaurant in Miami, Fla. Jeff Greenberg | Universal Images Group | Restaurant Brands International on Wednesday reported better-than-expected quarterly earnings and revenue, fueled by another quarter of strong international growth and a successful turnaround at Burger King U.S. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per share: 86 cents adjusted vs. 82 cents expected Revenue: $2.26 billion vs. $2.24 billion expected Restaurant Brands reported first-quarter net income attributable to common shareholders of $338 million, or 97 cents per share, up from $159 million, or 49 cents per share, a year earlier. Excluding non-recurring expenses and other items, the restaurant company earned 86 cents per share. Revenue rose 7% to $2.26 billion. Restaurant Brands' same-store sales increased 3.2% in the quarter, fueled by strong growth at Burger King's U.S. locations and the company's international restaurants. Outside of the U.S. and Canada, Restaurant Brands' international business saw same-store sales jump 5.7%, beating the estimates of 5.1% growth projected by Wall Street analysts surveyed by StreetAccount. International Burger King restaurants, which represents the bulk of the segment, saw same-store sales increase 5.4%. Burger King reported same-store sales growth of 5.8%, topping StreetAccount estimates of a 3.5% increase. The chain's U.S. …

Original source: CNBC Top News

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United States · Miami · Canada · StreetAccount