Restaurant Brands Int'l (QSR) reported earnings on Mon 28 Oct 19 (b/o)

** charts after earnings **

 

Restaurant Brands Int'l beats by $0.03, reports revs in-line; system-wide sales +8.9% 

Reports Q3 (Sep) earnings of $0.75 per share, $0.03 better than the S&P Capital IQ Consensus of $0.72; revenues rose 6.0% year/year to $1.46 bln vs the $1.46 bln S&P Capital IQ Consensus.

Comparable sales Tim Hortons -0.1%; Burger King +10.7%; Popeye's +15.6%.

Co refinances existing $1.25 bln 1st Lien Notes due 2022, generating significant interest savings.

Jose Cil, Chief Executive Officer of Restaurant Brands International commented, "During the third quarter, we grew system-wide sales nearly 9% through a combination of strong global comparable sales growth and restaurant expansion. At Burger King, we continue to see exciting growth around the world, with our system-wide sales increasing approximately 15% internationally for the quarter and the successful launch of our Impossible Whopper driving 5% comparable sales growth in the US, our strongest level since 2015. Popeyes had one of its best quarters in nearly two decades, achieving comparable sales growth of more than 10% in the US. At Tim Hortons, although we had a challenging quarter, we remain confident in the pillars of our Winning Together Plan and are excited about the long-term growth prospects of the Tims brand and business in Canada."