Restaurant Brands International reported its fiscal third-quarter results, revealing a net income of $542 million, or $1.54 per share, which is an increase from $315 million, or 96 cents per share, a year earlier. Adjusted earnings per share were $1.10, slightly above the $1.09 expected by analysts, while revenue reached $2.53 billion, just shy of the $2.54 billion forecast.
The company's same-store sales growth was 3.8%, driven primarily by Burger King's impressive 8.4% growth in the U.S., as the chain continues its multiyear turnaround focused on enhancing food quality and restaurant operations.
In contrast, Tim Hortons saw a modest same-store sales increase of 1.8% in Canada, while Popeyes experienced a decline of 2.2% in U.S. same-store sales, attributed to competition from other chicken chains offering discounts. Restaurant Brands is working to improve Popeyes' performance through better operations and a focus on its core menu.
The international segment also performed well, with same-store sales growth of 3.9%, largely supported by Burger King's international locations