Burger King parent Restaurant Brands beats profit, same-store sales expectations
Restaurant Brands International Inc. 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, matching 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 has lost 2.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.