Restaurant Brands International Inc. (TSE: QSR) published its earnings report for the fiscal fourth quarter on Thursday that came in weaker than what analysts had anticipated. The company attributed its dovish performance to the resurgence in COVID-19 cases that restricted people from visiting its popular brands like Popeye’s and Burger King in recent months.
Restaurant Brands International is currently trading at a per-share price of £43.50. The stock had plummeted to as low as £23.17 per share in March 2020 when the ongoing pandemic pushed its stores into temporarily shutting down for the public. If you want to invest in the stock market online, you will need a reliable stockbroker – here’s a comparison of the top few to make selection easier for you.
Restaurant Brands’ Q4 financial results versus analysts’ estimates
Restaurant Brands said that its net income in the fourth quarter printed at £65.76 million that translates to 21.68 pence per share. In Q4 of last year, it had reported a much higher £119.24 million of net income or 39.02 pence per share.
Adjusted for one-time items, the Canadian-American multinational earned 38.30 pence per share versus the year-ago figure of 54.20 pence per share. RBI said it generated £980 million of revenue in the recent quarter that represents an 8.2% annualised decline. In the prior quarter (Q3), Restaurant Brands had registered £970 million of revenue.
According to FactSet, experts had also forecast the company to post £980 million of revenue in the fourth quarter. Their estimate for adjusted per-share earnings, however, stood at a much higher 46.97 pence. In related news from the food industry, Tyson Foods also published its quarterly financial results on Thursday.
Other prominent figures in Restaurant Brands’ earnings report
Restaurant Brands also highlighted on Thursday that Burger King saw a 7.9% year over year decline in same-store sales. Popeye’s comparable-store sales slid 5.8% in Q4, while Tim Horton registered an 11% annualised decline.
Burger King and Popeye’s saw a broader than expected decline in fourth-quarter same-store sales, but Tim Horton topped expectations by a narrow margin. Restaurant Brands International said that restaurant count in 2020 remained unchanged from 2019.
Restaurant Brands International performed slightly downbeat in the stock market last year with an annual decline of close to 7%. At the time of writing, it is valued at £20.39 billion and has a price to earnings ratio of 32.59.
The post Restaurant Brands’ revenue slides 8.2% in the fiscal fourth quarter appeared first on Invezz.
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