Burger King, Tim Hortons Parent Restaurant Brands Q4 Performance Beats Consensus

Restaurant Brands International Inc QSR reported fourth-quarter FY21 sales growth of 13.8% year-on-year, to $1.55 billion, beating the analyst consensus of $1.50 billion.
Comparable Sales for Tim Horton rose 10.3%, Burger King increased 11.3%, and Popeyes Louisiana Kitchen fell 0.4%.
System-wide sales for Tim Horton's climbed 17.5% Y/Y, Burger King rose 13.9%, and Popeyes Louisiana Kitchen increased 6.9%.
Adjusted EPS of $0.74 beat the analyst consensus of $0.70.
General and administrative expenses increased 45.2% Y/Y. The operating margin was 26.9%, and operating income for the quarter rose 11.5% to $416 million. Adjusted EBITDA rose 16.6% Y/Y.
Restaurant Brands held $1.1 billion in cash and equivalents as of December 31, 2021. Net cash provided by operating activities for twelve months ended December 31, 2021, totaled $1.7 billion.
The company noted COVID-19 impacted its global restaurant operations for the quarter. Also, it expects to see a continued impact from COVID-19 on its 2022 results.
The company targets a total of $2.16 in dividends per common share and partnership exchangeable unit of RBI LP for 2022.
Price Action: QSR shares are trading higher by 1.82% at $58.20 in premarket on the last check Tuesday.