In Vienna, Austria, a Burger King restaurant is seen with the slogan. ”
Michael Nguyen | Nurphoto | Getty images
Restaurant Brands International On Thursday he reported mixed quarterly results, since sales decreases in the same store for Popeyes were compensated for a strong international demand and Tim Hortons.
The company’s shares fell more than 4% in morning negotiation.
This is what the company reported for the period ended on June 30 compared to what Wall Street expected, based on a LSEG analysts survey:
- Profit per action: 94 tight cents compared to 97 expected cents
- Revenue: $ 2.41 billion compared to $ 2.32 billion expected
Restaurant brands reported net income of the second quarter attributable to shareholders of $ 189 million, or 57 cents per share, below $ 280 million, or 88 cents per share, a year earlier.
Excluding the transaction costs of its acquisition of Burger King China and other unique costs, the company won 94 cents per action.
Net sales rose 16% to $ 2.41 billion.
Sales of the company’s same store, which only track the metric in the restaurants that open at least one year, increased 2.4% during the quarter.
The CEO Josh Kobza told CNBC that Restaurant Brands has seen a “modest improvement” in the consumer environment compared to the first quarter, when the three largest brands of the company saw a decrease in sales in the same store.
This quarter, international restaurants at Restaurant Brands reported a sales growth in the same 4.2%store.
Tim Hortons, which represents more than 40% of the total income of restaurant brands, reported a sales growth in the same 3.4% store. In April, the Canadian coffee chain launched the breakfast box with scrambled eggs with actor Ryan Reynolds, which executives called a “great success.”
Burger King reported a sales growth in the same 1.3%store. Its American division, which has been in response mode for almost three years, saw an increase in sales in the same store by 1.5%. The domestic marketing of Burger King has focused on Whopper and heading to families with offerings such as his film linking “how to train his dragon.” More than half of its US restaurants have been renewed since the change began; The hamburger chain aims to have 85% of its American footprint updated by 2028.
“We saw the turning point in TIMS in Canada a few years ago, and we are working towards that same inflection point at Burger King Us,” said the president of the restaurant brands, Patrick Doyle, at the company’s telephone conference.
Popeyes was the lag of the portfolio for the most recent quarter, informing a decrease in sales in the same 1.4%store. But the results of the fried chicken chain have improved compared to the first three months of the year, when their sales in the same store fell 4%. To lift sales in the second half of the year, Popeyes has a “pile of innovation” at his time, Kobza said. The chain has also been trying to improve its store’s operations.
As the prices of meat and consumer preferences increase away from red meat, more fast food chains have been leaning. McDonald’s He launched his McCrispy strips and brought his snack wraps, while Yum Brands’ Taco Bell launched crispy chicken nuggets.
The increase in competition has pressed Popeyes, and probably some of its greatest rivals, such as Chick-Fil-A, which does not reveal its quarterly results because it remains private.
Throughout the year, Restaurant Brands reiterated its prognosis, anticipating that it will spend between $ 400 million and $ 450 million in consolidated capital, inductive tenant and other incentives. The company also said that it still hopes to reach its long -term algorithm, which projects a sales growth of the same 3% store and an 8% growth of organic adjusted operating income on average between 2024 and 2028.
