Skip to main content
Restaurant Brands Rises After Earnings Beat, Revenue Miss

Restaurant Brands Rises After Earnings Beat, Revenue Miss

Restaurant Brands, parent of Burger King, Tim Hortons and Popeyes, missed on analysts' revenue expectations.
  • Author:
  • Publish date:

Shutterstock

Restaurant Brands, parent of Burger King, Tim Hortons and Popeyes, missed on analysts' revenue expectations.

Shares of Restaurant Brands  (QSR) - Get Free Report were higher after the parent of Burger King, Popeyes and Tim Hortons reported mixed third-quarter results. 

The Toronto company reported adjusted earnings of US$0.76 a share on revenue of $1.5 billion. According to a FactSet survey, the earnings topped expectations of 74 cents a share while analysts were expecting revenue of $1.52 billion. 

GAAP net income was 70 cents a share versus 45 cents in the year-earlier quarter.

Restaurant Brands remains "on track to return to prepandemic unit-growth levels this year and well positioned to accelerate in 2022 as we continue on our path to 40,000 restaurants around the world," Chief Executive Jose Cil said in a statement. 

At last check Restaurant Brands shares were 1.5% higher at $62.90. 

The company said Covid-19 contributed to labor shortages that led some restaurants to shorten their hours or reduce service.