Burger King parent Restaurant Brands International stock rises on Q3 top and bottom line beat
Restaurant Brands International Inc.'s stock rose 4.1% before market open, boosted by the company's better-than-expected third-quarter results. The Burger King, Popeyes and Tim Hortons parent earned $1.17 a share, compared with 70 cents a share in the same period last year. On an adjusted basis, Restaurant Brands earned 96 cents a share. Analysts surveyed by FactSet were looking for earnings of 80 cents a share. The company's third-quarter revenue was $1.726 billion, compared with $1.495 billion in the year-ago quarter, and above FactSet consensus of $1.666 billion. During the quarter, Restaurant Brands International's same-store sales rose 14%, compared with 10.8% in the prior year's quarter and above FactSet consensus of 8.3%. Same store sales grew 12% at Popeyes, 13% at Tim Hortons and 14% at Burger King, according to the company.
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