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Restaurant Brands Profit Surges on Strong Sales

Wall Street Journal US Business •
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Restaurant Brands International, parent of Burger King, posted sharply higher profit and rising revenue in the first quarter, driven by sustained sales growth at its Tim Hortons and Burger King chains. The fast food holding company also operates Popeyes and Firehouse Subs brands.

Net income jumped to $338 million, or 97 cents a share, from $159 million, or 39 cents a share, a year earlier. Adjusted earnings of 86 cents a share narrowly topped analysts' expectations of 83 cents. Total revenues climbed to $2.26 billion from $2.11 billion.

As a franchiser, Restaurant Brands primarily profits from franchisees rather than operating restaurants directly. System-wide sales across its network grew by 6.2% to $11.51 billion, reflecting strong performance across multiple brands despite an increasingly competitive quick-service restaurant market.