Tim Hortons, Burger King Parent Clocks Strong Performance In Q1

Restaurant Brands International Inc QSR QSR reported first-quarter FY22 sales growth of 15.1% year-on-year to $1.45 billion, beating the consensus of $1.41 billion.
Comparable Sales for Tim Horton rose 8.4%, Burger King increased 10.3%, and Popeyes Louisiana Kitchen fell 3%.
Revenue for Tim Horton's climbed 16.8% Y/Y, Burger King rose 9%, and Popeyes Louisiana Kitchen increased 3.5%.
General and administrative expenses increased 27.8% Y/Y. The operating margin was 31%, and operating income for the quarter was $450 million. Adjusted EBITDA rose 10.4% Y/Y.
Restaurant Brands held $895 million in cash and equivalents as of March 31, 2022. Net cash provided by operating activities for the quarter totaled $234 million.
Adjusted EPS of $0.64 beat the analyst consensus of $0.63.
The company noted COVID-19 contributed to labor challenges, resulting in reduced operating hours and service modes at select restaurants and supply chain pressures.
The company's dividend of $0.54 per share will be payable on July 6, 2022, to shareholders of record on June 22, 2022.
Price Action: QSR shares closed lower by 0.23% at $56.96 on Monday.
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