03.11.2023 11:50:23
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Restaurant Brands Q3 Profit Down, Yet Tops Estimates, Revenues Miss
(RTTNews) - Restaurant Brands International Inc. (QSR, QSR.TO, QSP.TO) reported Friday that its third-quarter net income declined to $364 million from $530 million in the prior year.
Earnings per share were $0.79, compared to $1.17 last year.
Adjusted net income was $413 million or $0.90 per share, compared to last year's $436 million or $0.96.
Total revenues, however, grew to $1.84 billion from last year's $1.73 billion.
Analysts on average expected the company to report earnings of $0.86 per share on revenues of $1.88 billion, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
Consolidated comparable sales increased 7 percent.
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