Restaurant Brands earnings beat estimates, fueled by strong Tim Hortons sales

A normal view of a Tim Hortons Drive-Thru coffeehouse and restaurant at Lakeside Retail Park on February 5, 2024 in Grays, United Kingdom.

John Keeble | Getty Images

Restaurant Brands International reported quarterly earnings and income that beat analysts’ expectations on Tuesday, fueled by stronger-than-expected Tim Hortons sales.

Shares of the corporate had been unchanged in premarket buying and selling.

Here’s what the corporate reported in contrast with what Wall Street was anticipating, based mostly on a survey of analysts by LSEG, previously often known as Refinitiv:

  • Earnings per share: 75 cents adjusted vs. 73 cents anticipated
  • Revenue: $1.82 billion vs. $1.81 billion anticipated

Restaurant Brands reported fourth-quarter web revenue attributable to shareholders of $508 million, or $1.60 per share, up from $229 million, or 74 cents per share, a yr earlier.

Excluding gadgets, the corporate earned 75 cents per share.

Net sales rose 8% to $1.82 billion.

This quarter marks the primary time that Restaurant Brands shared its outcomes utilizing its new reporting construction. The firm now shares the outcomes for its particular person manufacturers in U.S. and Canada and lumps all of its worldwide areas collectively below its “worldwide” section.

Tim Hortons’ same-store sales elevated 8.4% within the quarter, topping StreetAccount estimates of 4.7%. The Canadian espresso chain is usually the most important contributor to Restaurant Brands’ income.

Burger King reported same-store sales development of 6.3%. The chain’s U.S. enterprise is now greater than a yr right into a turnaround plan that features reworking eating places and spending more cash on promoting.

Restaurant Brands additionally lately acquired Burger King’s largest U.S. franchisee, Carrols Restaurant Group, in a $1 billion deal to assist the chain renovate areas even quicker.

Popeyes’ same-store sales grew 5.5% within the quarter. The fried hen chain launched hen wings as a everlasting menu merchandise throughout the interval. The wings had been the main target of Popeyes’ first-ever Super Bowl commercial, which aired throughout the sport on Sunday.

Restaurant Brands reported worldwide same-store sales development of 4.6%.

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