Overview
- Adjusted earnings per share were $1.03 versus $1 expected, with revenue of $2.45 billion topping the $2.4 billion forecast.
- Companywide same-store sales rose 4%, led by international growth of 6.5% that exceeded the StreetAccount 4.4% consensus.
- Comparable sales by brand: Tim Hortons up 4.2%, Burger King up 3.1%, Popeyes down 2.4%.
- Net income reached $315 million, up from $252 million a year earlier, and the stock gained about 3% in premarket trading.
- CEO Josh Kobza said Tim Hortons and international operations generate roughly 70% of earnings, while Popeyes faces tougher value competition.