Burger King Parent Restaurant Brands Beats Profit, Same-store Sales Expectations

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Restaurant Brands International Inc. QSR, +0.63% reported Monday a fourth-quarter profit and same-store sales that beat expectations. Shares of the Burger King parent were still inactive in premarket trade. Net income fell to $163 million, or 64 cents a share, from $395 million, or $1.59 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to 68 cents, above the FactSet consensus of 67 cents. Total revenue rose to $1.39 billion from $1.23 billion, above the FactSet consensus of $1.39 billion. Among its restaurant chains, same-store sales for Burger King rose 1.7% to beat the FactSet consensus of 1.6% growth; Tim Hortons grew 1.9%, while the FactSet consensus was up 1.6%; and Popeyes Louisiana Kitchen rose 0.1%, missing expectations of a 0.4% increase. The stock has run up 10.4% over the past three months, while the S&P 500 SPX, +0.07% has lost 2.6%.

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