Restaurant Brands' sales rise, fueled by Burger King and Tim Hortons growth

Restaurant Brands International connected Tuesday reported double-digit same-store income maturation astatine Burger King and Tim Hortons for its 2nd quarter.

Shares of the institution were astir unchanged successful premarket trading.

Here's what the institution reported for the 4th ended June 30:

Earnings per share: 85 cents adjusted. It was not wide if the fig compared to the 77 cents per stock expected by analysts surveyed by Refinitiv.Revenue: $1.78 billion. It was not wide if the fig compared to Wall Street estimates of $1.75 billion.

Restaurant Brands reported second-quarter nett income of $351 million, oregon 77 cents per share, up from $346 million, oregon 76 cents per share, a twelvemonth earlier.

Excluding items, the institution earned 85 cents per share.

Net sales rose 8.3% to $1.78 billion. Restaurant Brands' same-store income climbed 9.6% successful the quarter, driven by beardown maturation astatine Tim Hortons and Burger King.

Tim Hortons reported same-store income maturation of 11.4%, topping StreetAccount estimates of 6.5%. The java chain's same-store income climbed 12.5% successful its Canadian location market.

Burger King's same-store income roseate 10.2%, beating estimates of 5.3%. In the United States, wherever the institution is trying to reinvigorate the brand, the burger chain's same-store income accrued 8.3%.

Popeyes saw same-store income maturation of 6.3%, topping expectations of 3.5%.