It’s turning out to be a banner quarter for fast food giants.
— Jason Clampet
The company that runs Burger King and Tim Hortons put up some big third-quarter numbers with strong sales at the home of the Whopper in the U.S.
Restaurant Brands earned $91.4 million, or 37 cents per share, for the three months ended Sept. 30. Earnings, when the extinguishment of debt and other one-time costs are removed, were 58 cents per share. That easily beat the 49 cents per share that analysts surveyed by Zacks Investment Research forecast.
The Oakville, Ontario, company earned $86.3 million, or 36 cents per share, a year ago.
Revenue climbed to $1.21 billion from $1.08 billion.
Sales at Burger King locations open at least a year climbed 3.6 percent, more than double the prior year’s 1.7 percent increase. The performance was bolstered by a 4 percent rise in sales at U.S. locations open at least a year.
At Tim Hortons, the metric edged up 0.3 percent.
Shares of Restaurant Brands International Inc. added 47 cents to $67.86 in Thursday morning trading.
Elements of this story were generated by Automated Insights using data from Zacks Investment Research.