UPDATE: Burger King Posts Better-Than-Expected Q2 Earnings, Lifts Dividend

Burger King Worldwide

reported upbeat earnings for the second quarter. The Miami, Florida-based company posted quarterly earnings of $75.1 million, or $0.21 per share, compared to $62.9 million, or $0.18 per share, in the year-ago period. Its adjusted EPS came in at $0.25 per share. Its revenue declined 6.1% to $261.2 million from $278.3 million. However, analysts were expecting earnings of $0.23 per share on revenue of $262.18 million. Its adjusted EBITDA climbed 13.3% to $182.8 million in the quarter. US and Canada's comparable sales growth was 0.4% in the quarter, while EMEA delivered comparable sales growth of 0.9%. Burger King's system-wide sales rose 5.4% in constant currency, while global comparable sales climbed 0.9%. Net restaurant growth was 131, a 4.8% rise versus the year-ago period. Burger King lifted its dividend for the third quarter to $0.08 per share. The company's press release offered the following comment from BKW Chief Executive Officer, Daniel Schwartz: "We ended the first half of the year strong as we grew comparable sales across all four regions and accelerated restaurant openings.” Burger King shares fell 0.94% to close at $26.38 yesterday.