Restaurant Brands International Inc. (NYSE: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.
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:Â QSR shares are trading lower by 4.52% to $74.68 on the last check Tuesday.
Photo via Wikimedia Commons
