Restaurant Brands Q2 Earnings Top Estimates

Restaurant Brands International Inc QSR reported second-quarter FY22 sales growth of 14% year-on-year to $1.64 billion, beating the consensus of $1.56 billion.
Comparable Sales for Tim Horton rose 12.2%, Burger King increased 10%, and Popeyes Louisiana Kitchen grew 1.4%.
Revenue for Tim Horton's climbed 16.4% Y/Y, Burger King rose 3.1%, and Popeyes Louisiana Kitchen increased 11.5%.
General and administrative expenses increased 35.2% Y/Y. The operating margin was 33%, and operating income for the quarter rose 10.9% to $541 million. Adjusted EBITDA rose 7.1% Y/Y to $618 million.
Restaurant Brands held $838 million in cash and equivalents as of June 30, 2022. Net cash provided by operating activities for six months ended June 30, 2022, totaled $669 million.
Adjusted EPS of $0.82 beat the analyst consensus of $0.73.
"We continue to see steady improvements in our Burger King U.S. business and will be sharing the details of our plan to accelerate home market growth with all of our franchisees in early September," said CEO José Cil.
The company's board declared a dividend of $0.54 per common share, payable on October 5, 2022, to shareholders of record on September 21, 2022.
Price Action: QSR shares are trading higher by 6.46% at $58.56 on the last check Thursday.

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