Jose Cil, CEO of Restaurant Brands International, speaks on the New York Stock Exchange during an interview with CNBC on November 6, 2019.
Brendan McDermid | Reuters
Restaurant Brands International reported quarterly results on Friday that exceeded Wall Street’s expectations as system-wide revenue surpassed 2019 levels.
The company’s shares remained roughly unchanged in premarket trading.
The company reported, versus Wall Street expectations based on an analyst survey by Refinitiv:
- Earnings per share: 55 cents adjusted compared to 50 cents expected
- Revenue: $ 1.26 billion versus $ 1.25 billion expected
The company reported net income of $ 270 million, or 58 cents per share, for the first quarter, compared to $ 224 million, or 48 cents per share, a year earlier.
Without items, Restaurant Brands earned 55 cents per share, beating the analysts surveyed by Refinitiv, which was 50 cents per share.
Net sales rose 2.9% to $ 1.26 billion, beating expectations of $ 1.25 billion. The company said the increase in sales was mainly due to favorable foreign currency movements.
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