What's Going On With Restaurant Brands Shares After Q4 Results?

Restaurant Brands International Inc. QSR shares are trading lower on Tuesday despite delivering street-beating performance in the fourth quarter.

The firm reported fourth-quarter adjusted earnings per share of 75 cents, beating the analyst consensus of 73 cents.

The company reported revenues of $1.820 billion, beating the analyst consensus of $1.808 billion.

Global system-wide sales grow nearly 10% for the fourth quarter. 

Restaurant Brands said comparable sales were up nearly 6% in the fourth quarter, led by over 8% growth at Tim Hortons Canada and over 6% at Burger King US.

Income from Operations in the quarter under review was $468 million, higher than $346 million a year ago.

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Adjusted Operating Income in the fourth quarter was $509 million, higher than $506 million in the year-ago period.

Quarterly adjusted EBITDA was $603 million, higher than $588 million a year ago.

As of December 31, 2023, total debt was $13.4 billion. Cash and cash equivalents as of quarter-end was $1.139 billion.

Dividend: Restaurant Brands declared a dividend of $0.58 per common share, which will be payable on April 4, 2024.

Price Action: QSR shares are trading lower by 4.52% to $74.68 on the last check Tuesday.

Photo via Wikimedia Commons