Restaurant Brands (QSR) Tops Q3 EPS by 12c, Revenues Beat
Restaurant Brands (NYSE: QSR) reported Q3 EPS of $0.68, $0.12 better than the analyst estimate of $0.56. Revenue for the quarter came in at $1.34 billion versus the consensus estimate of $1.15 billion.
Jose Cil, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, "Our results this quarter are once again a testament to the incredibly hard work our team members, restaurant owners and employees have put in to re-open our restaurants and continue serving millions of guests every day. Looking forward, we are very well-positioned to navigate through a wide range of possible scenarios, especially given the strength of our network of drive-thrus and fast-growing delivery channel."
"Despite our continued near-term focus on confronting the challenges presented by this global health crisis, we continue to make progress behind our long-term vision for the business, including modernizing our brands by leveraging the technology capabilities we've built in recent years. We are excited to roll out digital drive-thru menu boards to over 10,000 Tim Hortons and Burger King restaurants in the US and Canada, the bulk of which will be installed by the end of next year," added Cil.
"We are fortunate to have a diversified, well-capitalized network of partners around the world and we are working closely with each of them on plans to capitalize on emerging opportunities and return to growth in 2021," concluded Cil.
For earnings history and earnings-related data on Restaurant Brands (QSR) click here.
