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MarketScreener Homepage  >  Equities  >  Nyse  >  Restaurant Brands International Inc.    QSR   CA76131D1033

RESTAURANT BRANDS INTERNATIONAL INC.

(QSR)
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Restaurant Brands sales falter as Tim Hortons disappoints; shares fall

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10/28/2019 | 01:51pm EST
People wait in line outside a Popeyes Louisiana Kitchen restaurant in New York City, New York

(Reuters) - Restaurant Brands International Inc's quarterly revenue missed analysts' expectations on Monday as its biggest chain, Tim Hortons, was hit by fierce competition from high-end coffee houses and breakfast chains.

The weakness at Tim Hortons also overshadowed strong results at Popeyes, whose widely popular chicken sandwiches helped the chain record its best comparable sales growth since its acquisition by Restaurant Brands in 2017.

Chief Executive Officer Jose Cil said Tim Hortons faced a challenging quarter. "Our result at Tim Hortons were not where we want them to be," Cil told on a post-earnings call.

The company has been sprucing up its Tim Hortons' outlets and adding new coffee and lunch offerings, while rolling out breakfast sandwiches with Beyond Meat's plant-based sausages in select Canadian cities, but those efforts are yet to bear fruit.

Comparable sales fell 1.4% at the breakfast chain. Analysts were expecting growth of 0.93%, according to IBES data from Refinitiv.

"Tim Hortons will need more time to develop its coffee platforms to accommodate global tastes and preferences", said Pacific Management Consulting Group's John Gordon.

Restaurant Brands: Breakfast or chicken sandwich: https://fingfx.thomsonreuters.com/gfx/editorcharts/RSTRNT%20BRND-RESULTS/0H001QXFG94F/eikon.png


For an interactive graphic, click herehttps://tmsnrt.rs/2JqOg7q

The company's U.S.-listed shares fell 3.7% to $65.95 in afternoon trading. They have gained over 26% so far this year.

Sales at restaurants open for at least 13 months rose 4.8% at Burger King and 9.7% at Popeyes in the third quarter ended Sept. 30, beating analysts' estimates of 3.98% and 4.72% growth, respectively.

Popeyes' fried chicken sandwich, launched in August, became an instant hit with consumers, forcing operators of McDonald's Corp to demand for a new menu addition.

However, the popularity of the sandwiches led to shortages at Popeyes and the chain has since been working to secure supplies and bring them back in November.

Overall, revenue rose 6% to $1.46 billion, but fell short of the average analyst estimate of $1.47 billion.

Excluding items, the company earned 72 cents, beating estimates by 1 cent.

(Reporting by Nivedita Balu in Bengaluru; Editing by Anil D'Silva)

Stocks mentioned in the article
ChangeLast1st jan.
BEYOND MEAT, INC. -4.04% 113.1856 Delayed Quote.55.36%
MCDONALD'S CORPORATION -1.25% 212.89 Delayed Quote.9.24%
RESTAURANT BRANDS INTERNATIONAL INC. -1.20% 65.05 Delayed Quote.3.29%
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Financials (USD)
Sales 2020 5 849 M
EBIT 2020 2 199 M
Net income 2020 1 358 M
Debt 2020 10 756 M
Yield 2020 3,21%
P/E ratio 2020 22,7x
P/E ratio 2021 20,9x
EV / Sales2020 5,20x
EV / Sales2021 4,92x
Capitalization 19 657 M
Chart RESTAURANT BRANDS INTERNATIONAL INC.
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Restaurant Brands International Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends RESTAURANT BRANDS INTERNAT
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TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 76,57  $
Last Close Price 65,87  $
Spread / Highest target 60,9%
Spread / Average Target 16,2%
Spread / Lowest Target -5,88%
EPS Revisions
Managers
NameTitle
José Eduardo Cil Chief Executive Officer
Alexandre Behring da Costa Co-Chairman
Daniel S. Schwartz Co-Chairman
Joshua Arthur Kobza Chief Operating Officer
Matthew Dunnigan Chief Financial Officer
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