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· Burger King parent Restaurant Brands earnings fall short of estimates
· Restaurant Brands' profit tops estimates on Burger King boost
Burger King parent Restaurant Brands earnings fall short of estimates
By Ciara Linnane, MarketWatch
Feb 12, 2018 7:02 a.m. ET
Restaurant Brands International Inc. said Monday it had net income of $395 million, or $1.59 a share, in the fourth quarter, up from $118.4 million, or 50 cents a share, in the year-earlier period.
The operator of Burger King, Tim Horton and Popeyes said adjusted per-share earnings came to 66 cents, below the FactSet consensus of 72 cents.
Revenue rose to $1.234 billion from $1.111 billion, also below the FactSet consensus of $1.575 billion.
Chief Executive Daniel Schwartz said the company made good progress in integrating Popeyes, which it acquired in early 2017.
"We also improved system-wide sales growth at BURGER KING(R) this year, driven by accelerated net restaurant growth and continued comparable sales momentum," he said...
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Restaurant Brands' profit tops estimates on Burger King boost
Reporting by Anirban Paul in Bengaluru; Editing by Sai Sachin Ravikumar, Reuters
February 12, 2018 / 5:58 AM
(Reuters) - Restaurant Brands International Inc’s profit topped analysts’ forecasts in the fourth quarter as it lured more diners to its Burger King restaurants through new snacks and affordable burgers.
Canada-based Restaurant Brands said on Monday comparable sales at Burger King, known for its Whopper burgers and onion rings, rose 4.6 percent in the quarter ended Dec. 31. Analysts on average had expected growth of 2.5 percent, according to Consensus Metrix.
Restaurant Brands, which also owns the Tim Hortons and Popeyes Louisiana Kitchen restaurant chains, said total revenue climbed 11 percent to $1.23 billion.
Food chain owners including Restaurant Brands, McDonald’s Corp and Pizza Hut parent Yum Brands have been offering cheaper-priced meals and more breakfast and coffee items as they lock horns to attract more diners.
Restaurant Brands said net profit attributable to shareholders more than tripled...