Restaurant Brands International Inc (NYSE:QSR) shares are trading higher in premarket on Wednesday.
The company reported fourth-quarter sales growth of 26.2% year-on-year to $2.296 billion, beating the analyst consensus estimate of $2.274 billion.
Consolidated comparable sales increased 2.5%, and net restaurants grew 3.4% versus the prior year. Consolidated system-wide sales increased 5.6%.
Comparable sales for Tim Hortons rose 2.2%, Burger King increased 1.1%, and Popeyes Louisiana Kitchen slipped 0.2%. Revenue for Burger King rose 8.6%, and Popeyes Louisiana Kitchen increased 10.4%.
Adjusted EPS of $0.81 beat the consensus estimate of $0.79.
General and administrative expenses remained flat year over year. The operating income for the quarter climbed 35.6% to $635 million.
Restaurant Brands held $1.3 billion in cash and equivalents as of December-end. Net cash provided by operating activities for twelve months totaled $1.5 billion.
Restaurant Brands’ Board of Directors has declared a dividend of $0.62 per common share, payable on April 4 to shareholders and unitholders of record on March 21.
“I am proud of our performance this year, reflecting the strong foundations we’re building across our businesses and the dedication of our teams and franchisees who are executing the fundamentals of quality, service, and convenience with excellence,” said CEO Josh Kobza.
Outlook: Restaurant Brands expects FY25 segment general and administrative expenses, excluding RH, of $650 million – $670 million.
Restaurant Brands continues to expect to achieve, on average, from 2024 to 2028, comparable sales of 3%+, net restaurant growth of 5%+, and system-wide sales growth of 8%+.
Price Action: QSR shares traded higher by 3.29% at $69.10 in premarket at the last check Wednesday.
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