Restaurant Brands Q3 Earnings Top Estimates

Restaurant Brands Q3 Earnings Top Estimates
  • Restaurant Brands International Inc QSR reported third-quarter FY22 sales growth of 15.5% year-on-year to $1.73 billion, beating the consensus of $1.66 billion.
  • Consolidated Comparable Sales increased 9.1%. Comparable Sales for Tim Horton rose 9.8%, Burger King increased 10.3%, and Popeyes Louisiana Kitchen grew 3.1%.
  • Digital sales grew 26% Y/Y to $3.4 billion.
  • Revenue for Tim Horton's climbed 16.6% Y/Y, Burger King rose 5%, and Popeyes Louisiana Kitchen increased 14.7%.
  • General and administrative expenses increased 35.6% Y/Y. The operating margin was 32.5%, and operating income for the quarter rose 5.2% to $561 million.
  • Adjusted EBITDA for nine months rose 7.6% Y/Y to $1.7 billion.
  • Restaurant Brands held $946 million in cash and equivalents as of September 30, 2022. Net cash provided by operating activities for nine months ended September 30, 2022, totaled $1.1 billion.
  • Adjusted EPS of $0.96 beat the analyst consensus of $0.80.
  • Restaurant Brands' Board of Directors has declared a dividend of $0.54 per common share, payable on January 4, 2023, to shareholders of record on December 21, 2022.
  • Price Action: QSR shares are trading higher by 2.87% at $59.80 in premarket on the last check Thursday.
  • Photo Via Company
Posted In: BriefsEarningsNewsDividendsGeneral