Burger King and Tim Hortons Propel Restaurant Brands’ Sales Growth to New Heights

For its second quarter, Restaurant Brands International recorded double-digit same-store sales growth at Burger King and Tim Hortons.

In the premarket trade, the company’s shares essentially remained steady.

Here is what the business disclosed for the three months ended June 30:

Adjusted earnings per share were 85 cents. It was unclear whether the figure corresponded to the 77 cents per share that analysts surveyed by Refinitiv had anticipated.
A $1.78 billion revenue. It was unclear how the amount compared to $1.75 billion Wall Street forecasts.

Restaurant Brands’ net income for the second quarter increased from $346 million to $351 million, or 77 cents per share, from the same period last year.

The corporation made 85 cents per share after items were taken out.

To $1.78 billion, net sales increased 8.3%. Same-store sales at Restaurant Brands increased 9.6% during the quarter, this is primarily due to robust growth at Tim Hortons and Burger King.

Strategic Investments Pay Off

burger-king-tim-hortons-propel-restaurant-brands’-sales-growth-new-heights — For its second quarter, Restaurant Brands International recorded double-digit same-store sales growth at Burger King and Tim Hortons.

In contrast to StreetAccount’s prediction of 6.5% growth, Tim Hortons reported same-store sales growth of 11.4%. The coffee chain’s domestic Canadian market had a 12.5% increase in same-store sales.

The same-store sales increase at Burger King was 10.2%, exceeding forecasts of 5.3%. The burger chain’s same-store sales grew 8.3% in the US, where the business is working to revitalise the brand.

During the quarter, Restaurant Brands spent $10 million on Burger King advertising in the United States. Also, the corporation spent $11 million upgrading and renovating restaurants. During the duration of the turnaround, Restaurant Brands intends to invest $400 million in Burger King’s return to its home market.

Popeyes exceeded estimates by 6.3% in terms of same-store sales growth.

The newest company to join Restaurant Brands’ portfolio, Firehouse Subs, posted same-store sales growth of 2.1%.

Source: CNBC