This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Burger King Worldwide, Inc. Reports Third Quarter 2012 Results

Burger King Worldwide, Inc. (NYSE: BKW) today reported financial results for its third quarter ended September 30, 2012.

Third Quarter Highlights:
  • System-wide comparable sales increased 1.4% and system-wide sales increased 3.9% on a constant currency basis
  • Adjusted EBITDA increased 6% on an organic basis to $162.0 million
  • Adjusted Diluted EPS increased 11% to $0.17
  • Refinanced Term Loan B, lowering annualized cash interest costs by approximately $25 million
  • Initiated new quarterly cash dividend of $0.04 per share

BKW Chief Executive Officer Bernardo Hees said, “We completed our first full quarter as a public company with continued positive momentum despite the challenging global economic environment. BKW is fortunate to have one of the most widely recognized and resilient brands in the global QSR industry and we are proud of the hard work and dedication of our employees and franchisees who are striving to deliver a strong finish to a critical year for the BURGER KING® system. In the U.S. and Canada, we are executing on our four pillar strategy, while internationally we completed additional refranchisings and development agreements that we believe will accelerate restaurant growth in the years to come.” Chief Financial Officer Daniel Schwartz added, “We are excited to begin returning cash to our shareholders with the initiation of a quarterly cash dividend, underscoring our confidence in BKW’s business model and commitment to disciplined capital allocation.”

Consolidated Financial Highlights
  Results   Variance
Three Months Ended September 30, $   %
2012   2011 Favorable / (Unfavorable)
($ in millions, except per share data)
System-wide Comparable Sales Growth 1 1.4 % 1.6 %
System-wide Sales Growth 1 3.9 % 3.6 %
Net Restaurant Growth 63 59 4 6.8%
Total Revenues $451.1 $607.7 ($156.6 ) (25.8%)
Adjusted EBITDA 2 $162.0 $161.0 $1.0 0.6%
Adjusted EBITDA Margin 2 35.9 % 26.5 % nm 9.4%
Adjusted Net Income 2 $61.1 $54.2 $6.9 12.7%
Adjusted Diluted Earnings Per Share 2 $0.17 $0.16 $0.02 10.6%
Net Income $6.6 $38.8 ($32.2 ) (83.0%)
Diluted Earnings Per Share $0.02 $0.11 ($0.09 ) (83.3%)

(1) System-wide comparable sales growth and system-wide sales growth are calculated on a constant currency basis and include sales at franchise restaurants and company-owned restaurants.

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.29 -1.00%
FB $100.09 -0.90%
GOOG $675.02 -1.30%
TSLA $154.09 7.30%
YHOO $26.73 -1.40%


Chart of I:DJI
DOW 15,594.92 -319.82 -2.01%
S&P 500 1,820.77 -31.09 -1.68%
NASDAQ 4,232.3620 -51.23 -1.20%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs