What's Going On With Restaurant Brands Shares After Q4 Results?
Portfolio Pulse from Nabaparna Bhattacharya
Restaurant Brands International Inc. (NYSE:QSR) reported Q4 earnings surpassing analyst expectations with adjusted EPS of 75 cents against a consensus of 73 cents, and revenues of $1.820 billion versus $1.808 billion expected. Global sales grew nearly 10%, with notable growth in Tim Hortons Canada and Burger King US. Operating income and adjusted EBITDA also saw increases from the previous year. Despite these positive results, QSR shares dropped 4.52% to $74.68. The company declared a dividend of $0.58 per share, payable on April 4, 2024.
February 13, 2024 | 3:02 pm
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Restaurant Brands International Inc. (QSR) exceeded Q4 earnings and revenue expectations, reported significant sales growth, and announced a dividend, yet shares dropped 4.52%.
Despite outperforming analyst expectations for Q4 earnings and revenue, and announcing a dividend, the drop in QSR's share price could be attributed to market reactions to other underlying factors not detailed in the news, such as future growth concerns or broader market trends.
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RELEVANCE 100