According to the company’s report, the net profit in January-March, compared to the same period a year earlier, increased by 18 percent. up to 328 million US dollars. Adjusted earnings per share amounted to $0.73 and slightly exceeded the average forecast of analysts polled by FactSet ($0.72).
RBI’s sales revenue increased by 9 percent. up to 1.74 billion dollars and also exceeded experts’ expectations (1.7 billion dollars).
Burger King restaurants grew revenue by 3.8 percent, Tim Hortons by 6.9 percent, Popeyes Louisiana Kitchen by 5.7 percent, and Firehouse Subs by 0.3 percent.
Adjusted revenues in the three months of this year were 4.6 percent. more solid than a year ago.
RBI operates one of the largest chains of fast food restaurants in the world, with more than 30,000 in more than 100 countries. The company was formed in 2014 after the merger of the US Burger King and the Canadian coffee chain Tim Hortons. In 2017, the company acquired Popeyes Louisiana Kitchen, a US chain of chicken restaurants. Sandwich chain Firehouse Subs joined the group in late 2021.
Source: BNS
