3 Takeaways From Restaurant Brands International's Q3 Earnings
Restaurant Brands International (NYSE: QSR) reported third-quarter earnings earlier this week and managed to produce earnings per share (EPS) of $0.68 on revenue of $1.34 billion, above consensus projections of $0.63 EPS on revenue of $1.3 billion. Third-quarter revenue was down 8% year over year due to coronavirus precautions still in place at many of its Burger King and Tim Hortons restaurants. Revenue growth at its Popeyes restaurants did help partially offset declines elsewhere.
Most of the company's restaurant base is now open globally, with more than 96% of locations operating in some form at the end of the third quarter. While nearly all restaurants are operating in Asia, Europe, and U.S. markets, Latin America is slightly behind with about 92% open. This compares to about 50% of locations open during the first coronavirus peak earlier this year.
The earnings report overall suggested this global restaurant operator is managing in what has been a tough 2020. But there were some interesting details in the report that some investors might have missed. Here are three takeaways from Restaurant Brands' latest earnings report.
Source Fool.com
