Restaurant Brands International Inc.
QSR,
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. Revenue rose to $1.820 billion from $1.689 billion, matching the FactSet consensus. Same-restaurant sales rose 5.8%, while FactSet was expecting a rise of 6.4%. The company is reorganizing its reporting into five operating segments, namely Tim Hortons brand in Canada and the U.S., Burger King brand in the U.S. and Canada, Popeyes Louisiana Kitchen brand in the U.S. and Canada, Firehouse Subs brand in the U.S. and Canada and international. The stock was slightly lower premarket and is up 16% in the last 12 months, while the S&P 500
SPX,
has gained 22.8%.
