Headquartered in Miami, FL, Restaurant Brands International Inc. (QSR) came into existence with the merger of Tim Hortons Inc. and Burger King Worldwide Inc. Restaurant Brands is now the parent company of these two iconic quick service restaurant brands. These independently operated brands have been serving their customers for more than 50 years.
Restaurant Brands International Inc houses these two big brands, with a combined market value of roughly $18 billion. With a combined system sales of $22 billion, the new company now has over 18,000 restaurants in around 100 countries.
Investors should also note the recent earnings estimate revisions for QSR, as the consensus estimate has been moving downwards. Restaurant Brands has posted a substantial negative earnings surprise in the last quarter. Revenues also missed the expectations.
Currently, QSR has a Zacks Rank #5 (Strong Sell) but that could change following Restaurant Brands earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: QSR beat on earnings. Our consensus earnings estimate called for EPS of 14 cents/share, and the company reported EPS of 18 cents. Investors should note that these figures take out stock option expenses.
Revenues: QSR reported revenues of $932 million. This missed our consensus estimate of $937 million.
Key Stats to Note: Tim Hortons comparable sales increased 5.3% and Burger King comparable sales increased 4.6%
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