Restaurant Brands International On Thursday, quarterly profits and sales reported that the analysts expect the analysts as sales of Popeyes, Burger King and Tim Hortons in the same business.
But the restaurant company already sees itself for sales.
“When we get in [the second quarter]This dynamic has improved sensibly, so we see some better absolute results when we get into the second quarter that give us confidence in the navigation in the rest of the year, “CEO Josh Kobza told CNBC.
The company's shares rose by more than 1%in the morning trade.
Here is what restaurant brands reported compared to the expectations of Wall Street, based on a survey of LSEG analysts:
- Win each share: 75 cents adapted compared to 78 cents
- Revenue: 2.11 billion US dollars expected compared to $ 2.13 billion
Restaurant brands reported the net income in the first quarter, which is due to the shareholder of $ 159 million or 49 cents per share, of $ 230 million or 72 cents per share in the previous year.
Without transaction costs in connection with the acquisition of Burger King China and other articles, the company received 75 cents per share.
Net sales rose by 21% to 2.11 billion US dollars, which was powered by higher income from Popeyes and fire brigade.
Restaurant brands recorded sales growth in the same business of 0.1%. Without the Leap Day last year, sales with the same business would have increased by about 1%, according to Kobza.
“We expected that the first quarter of the year would be the first quarter of the year and believe that part of the macrocolist may have driven further softness,” Kobza told the company's analysts.
The company's three largest brands recorded sales in the same business in the quarter and missed the expectations of Wall Street. Other fast food companies have reported a tough start to the year as the weather and a more careful consumer who, after the demand for their burgers and nuggets.
Tim Hortons, which is more than 40%of the total sales of the restaurant brands from the restaurant brands, reported that sales with the same business decreased by 0.1%, whereby the estimates of sales in the same business lacked 1.4%. A year earlier, the Canadian coffee chain recorded sales growth in the same business of 6.9%.
Tim Hortons has “a lot of speed in the second quarter,” said Kobza. On Monday, the chain started a new breakfast meal in collaboration with the actor – and Canadian – Ryan Reynolds.
Sales with Burger King in the same business shrank by 1.3%, steeper than estimates of a decline by 0.9%. The US business, which has been in turnaround mode for more than two years, fell by 1.1%in the same shop.
Nevertheless, Burger King surpasses his colleagues. rival Mc Donalds In the first quarter, sales in the same business shrink by 3.6%. According to McDonald's executives, consumers with medium-sized incomes did not visit fast food restaurants, but Kobza told CNBC that restaurant brands recorded consistent trends in the income cohorts.
Popeyes recorded sales with the same business by 4%, the largest decline in the quarter. Wall Street expected the decline in sales in the same business by only 1.8% for the fried chicken chain. Last year Popeyes broadcast its first super bowl commercial and contributed to increasing its quarterly sales growth to 5.7%in the same business. The chain did not return to advertising this year in a big game.
The demand was stronger outside of the United States and Canada. The international segment of the restaurant brands recorded sales growth in the same business by 2.6%.
The company confirmed its forecast for 2025 and expected it to spend between $ 400 and $ 450 million for consolidated investment expenses, tenant facilities and other incentives. Restaurant brands also said that it still expected to reach its long -term algorithm, which on average forecasts sales growth of 3% in the same business and 8% organically adjusted operational operating result between 2024 and 2028.
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