Restaurant Manufacturers Worldwide (QSR) first quarter outcomes
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.
This story evolves. Please try again.