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
Will the US-Canada tariff war irrevocably damage bilateral ties?
Canada’s fight with the US has far bigger stakes than trade
Pine Grove’s S$1.78 billion en bloc attempt could get fresh start under opt-in to new rules
What’s luck got to do with it? Everything, says Malaysian jewellery king Tomei’s chief
