Net earnings fell slightly to US$357-million in the third quarter while revenue grew to US$2.29-billion, but both fell short of consensus
third-quarter results fell short of analysts’ expectations, as demand slowed at its fast food chains.
Toronto-based Restaurant Brands’s comparable sales – an important metric that tracks sales growth not tied to new store openings – grew by only 0.3 per cent in the three months ended Sept. 30, compared to the same period last year. Net earnings fell slightly to US$357-million or 79 US cents per share, compared to US$364-million or 80 US cents per share in the prior year.
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