Burger King parent restaurant Brands misses revenue estimates
Add BT as a preferred source
[BENGALURU] Restaurant Brands International Inc missed estimates for quarterly revenue on Monday as the Delta variant slowed a return to offices and a staffing crunch hit sales at its Tim Hortons and Burger King restaurants.
Total revenue rose to US$1.50 billion in the quarter ended Sep 30, compared with US$1.34 billion a year earlier. IBES data from Refinitiv had estimated revenue of US$1.53 billion.
The hamburger chain, like most rivals, has struggled to ensure its restaurants have sufficient staff, with its newly launched hand-breaded chicken sandwich also considered a labour-intensive product.
Net income attributable to common shareholders rose to US$221 million, or 70 cents per share in the quarter ended Sep 30, from US$145 million, or 47 cents per share, a year earlier.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
When every phone becomes a satellite phone, what happens to Asia’s telcos?
Koh Brothers Eco Engineering faces up to S$57.6 million in potential liabilities from legal disputes
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
DayOne secures S$530 million green loan from DBS, OCBC and UOB for Singapore data centre
