Restaurant Brands' earnings top estimates as sales rise at Burger King, Tim Hortons

Restaurant Brands International connected Thursday reported quarterly earnings and gross that bushed analysts' expectations, fueled by income maturation astatine Burger King and Tim Hortons.

Shares of the institution were level successful premarket trading.

Here's what the institution reported compared with what Wall Street was expecting, based connected a survey of analysts by Refinitiv:

• Earnings per share: 96 cents adjusted vs. 80 cents expected
• Revenue: $1.73 cardinal vs. $1.66 cardinal expected

Net income successful the quarter rose 15.5% to $1.73 billion. Global same-store income grew 9.1%.

Burger King reported same-store income maturation of 10.3%, driven by beardown planetary growth. In its location market, the burger concatenation has been lagging down the competition, pushing Restaurant Brands to announce a $400 cardinal program to revive U.S. sales. This quarter, U.S. same-store income roseate 4%.

Tim Hortons' same-store income accrued 9.8% successful the quarter. The java concatenation reported Canadian same-store income maturation of 11.1%, demonstrating that its turnaround has taken hold.

Popeyes Louisiana Kitchen reported same-store income maturation of 3.1%. The fried chickenhearted chain's U.S. same-store income roseate 1.3%.

On Wednesday, Yum Brands besides reported stronger same-store income astatine its Taco Bell and KFC chains. The institution said it mostly isn't seeing a alteration successful user behaviour and that much premium paper items successful the U.S. are proving popular. Last week, McDonald's besides said its U.S. same-store income were fueled by stronger postulation and terms hikes. The burger elephantine said it is drafting much customers who are opting for fast-food alternatively of eating retired astatine pricier places.

For the 3 months ended Sept. 30, Restaurant Brands reported a nett income of $530 million, oregon $1.17 per share, up from $329 million, oregon 70 cents per share, a twelvemonth earlier.

Like different multinational companies, Restaurant Brands' results were wounded by the beardown dollar. The institution reported a $30 cardinal nonaccomplishment from overseas speech rates.

Excluding items, the institution earned 96 cents per share.