Burger King parent Restaurant Brands down on Q3 sales miss

Restaurant Brands International

05/11/2024 15:09

(Updates)
    ** U.S.-listed shares of Restaurant Brands  QSR.N   QSR.TO 
fall as much as 4.1% to $67.12
        ** Stock set for its worst day since February, if losses
hold
  
    ** Posts Q3 sales miss on weak demand across Tim Hortons,
Burger King and international markets including China and the
Middle East
    ** Reports Q3 total revenues of $2.29 bln, below analysts'
expectations of $2.31 billion - data compiled by LSEG
    ** Also posts quarterly adjusted EPS of 93 cents vs. Street
estimates of 95 cents
    ** Brokerage Citi believes the results will do little to
quieten investor concerns regarding ongoing choppiness in
comparable sales and potential implications for unit growth
plans into 2025
    ** Up to Monday's close, stock has fallen ~10% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))