Restaurant Brands International Beats Q1 Estimates Amid Reopening Economy

Reuters  |

Image source: Restaurant Brands International

Restaurant Brands International Inc beat quarterly revenue estimates on Friday, as a reopening U.S. economy and government stimulus checks boosted spending at the company's Burger King chain.

After a year of ordering in, more Americans have started to go back to restaurants as a $1,400 stimulus payment from the government in March boosted spending, while the rollout of COVID-19 vaccines lifted consumer confidence.

Total revenue rose to $1.26 billion in the first quarter ended March 31, from $1.23 billion a year earlier, and was above analysts' average estimate of $1.25 billion, according to IBES data from Refinitiv.

However, same-store sales at the company's Popeyes restaurant chain rose just 1.5% in the quarter, missing expectations of 1.7% growth. The Cajun-inspired fast-food chicken chain struggled to repeat last year's explosive growth when its social-media favorite chicken sandwich was still fresh in the minds of Americans.


Source: Reuters

Betting Against Elon Musk Has Not Been Profitable

Trending Articles

Twitter Down 13% in Premarket Trading Friday as Musk Puts Deal on Hold
The Best Laid Plans of Mice and Men — Part I
Bumble Beats First Quarter Estimates, Has Over 3 Million Paying Users
Squarespace Beats Revenue Estimates With Record Q1
BridgeBio Pharma Inks Licensing Deal With Bristol Myers Squibb Worth up to $905 Million
How To Trade in a Bearish Market
AbbVie and Teva Weighing $5 Billion Opioid Lawsuit Settlement
Cigna Beats Q1 Revenue and Earnings Estimates, Raises Full Year Guidance

Market Movers

Sponsored Financial Content