Burger King Parent Restaurant Brands' Misses On Q3 Topline Hit By Slowing Comps Growth
Portfolio Pulse from Shivani Kumaresan
Restaurant Brands International Inc (NYSE:QSR) reported Q3 FY23 sales growth of 6.4% YoY to $1.837 billion, missing the analyst consensus estimate of $1.874 billion. Consolidated comparable sales increased 7%, and net restaurants grew 4.2% versus the prior year. Adjusted EPS of $0.90 beat the consensus estimate of $0.86. The company held $1.3 billion in cash and equivalents as of September 30, 2023, and declared a dividend of $0.55 per common share. QSR shares traded lower by 3.03% at $67.00 premarket on Friday.
November 03, 2023 | 1:00 pm
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Restaurant Brands' Q3 FY23 sales growth missed analyst consensus, but adjusted EPS beat estimates. The company declared a dividend and its shares traded lower premarket.
Restaurant Brands missed the analyst consensus for Q3 sales growth, which could negatively impact investor sentiment and put downward pressure on the stock. However, the company beat EPS estimates and declared a dividend, which are positive signals. Despite these, the stock traded lower premarket, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100