Burger King parent beats expectations as sales climb
Jul 27, 2015, 5:18 AM
NEW YORK (AP) — The parent company of Burger King and Tim Hortons is reporting a better-than-expected quarterly profit after global sales climbed at established locations for both fast-food chains.
Comparable-store sales rose 6.7 percent at Burger King and 5.5 percent at Tim Hortons during the period.
In the U.S. and Canada, Burger King’s sales rose 7.9 percent in the three months ended June 30. McDonald’s last week said sales fell 2 percent in the U.S.
Restaurant Brands opened an additional 141 Burger King locations around the world as well as another 52 Tim Hortons.
Restaurant Brands International Inc. earned $9.6 million, or 5 cents per share. Not including one-time items, it earned 30 cents per share.
Analysts expected 24 cents per share, according to FactSet.
Total revenue rose to $1.04 billion, also topping the $1.02 billion Wall Street expected.
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