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Restaurant Brands, golden quarter exceeds analysts' estimates

Fast food chain with Burger King reports consolidated sales +9.6% to over $30 billion

Restaurant Brands International, the Canadian-American multinational fast food holding company, is off to a good start on the Wall Street stock exchange today (+1%) after beating analysts' consensus estimates for second quarter earnings. Consolidated sales rose 9.6 percent in the quarter to more than $30.1 billion overall, surpassing consensus estimates, with positive growth in the Tim Hortons (+11.4%), Burger Kings (+10.2%), Popeyes (+6.3%) and Firehouse Subs (+2.1%) chains. 

The increase in sales, the sopciety points out, "was partially offset by unfavorable exchange rate movements during the quarter". Net restaurant growth was 4.1% for the quarter, with the Popeyes brand posting the largest percentage increase with +10.9% net growth, +15% in sales to over $1.7 billion. Behind is Tim Hortons with +5.8% net growth (+15% sales to over $2 billion), followed by Burger King with +2.4% net growth (+13.8% sales to over $6.9 billion) and Firehouse Subs up 2.1% (+5.1% sales to $307 million).

Net income rose to $351 million from $346 million a year ago, while adjusted ebitda of $665 million increased 10.3% organically over the previous year, with all four segments up. The eps of $0.85 exceeded the consensus value of $0.77 and last year's level of $0.82.

"I'm proud of the performance of our teams and franchisees, who contributed to 14 percent growth in systemwide sales and another quarter of improved franchisee profitability -stressed ceo Josh Kobza-. We are generating momentum and positive results behind each of our iconic brands by focusing on new menu innovations supported by exceptional marketing and operations".

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EFA News - European Food Agency