Restaurant Brands (Q1) earnings beat expectations with $2.26B revenue

AI Summary

Restaurant Brands International (QSR) reported Q1 earnings of $338 million, or 97 cents per share, up from $159 million, or 49 cents per share, a year earlier. Adjusted earnings per share (EPS) were 86 cents, beating expectations of 82 cents, while revenue reached $2.26 billion, exceeding the forecast of $2.24 billion. Same-store sales increased 3.2%, driven by 5.8% growth at Burger King, surpassing estimates of 3.5%. However, challenges such as high beef costs and competitive pressures at Popeyes, which saw a 6.5% decline in same-store sales, were noted as potential risks for the company.