A Burger King restaurant with the slogan ”Flame Grilling Since 1954” is seen in Vienna, Austria, on June 7, 2025.
Michael Nguyen | NurPhoto | Getty Pictures
Restaurant Manufacturers Worldwide on Thursday reported combined quarterly outcomes, as same-store gross sales declines for Popeyes had been offset by robust demand internationally and at Tim Hortons.
This is what the corporate reported for the interval ended June 30 in contrast with what Wall Avenue was anticipating, based mostly on a survey of analysts by LSEG:
- Earnings per share: 94 cents adjusted vs. 97 cents anticipated
- Income: $2.41 billion vs. $2.32 billion anticipated
Restaurant Manufacturers reported second-quarter web earnings attributable to shareholders of $189 million, or 57 cents per share, down from $280 million, or 88 cents per share, a 12 months earlier.
Excluding transaction prices from its acquisition of Burger King China and different one-time prices, the corporate earned 94 cents per share.
Web gross sales climbed 16% to $2.41 billion.
The corporate’s same-store gross sales, which solely tracks the metric at eating places open a minimum of a 12 months, rose 2.4% through the quarter.
CEO Josh Kobza informed CNBC that Restaurant Manufacturers has seen a “modest enchancment” within the shopper surroundings in comparison with the primary quarter, when the corporate’s three largest manufacturers noticed same-store gross sales decline.
This quarter, Restaurant Manufacturers’ worldwide eating places reported same-store gross sales progress of 4.2%.
Tim Hortons, which accounts for greater than 40% of Restaurant Manufacturers’ complete income, reported same-store gross sales progress of three.4%.
Burger King reported same-store gross sales progress of 1.3%. Its U.S. division, which has been in turnaround mode for almost three years, noticed same-store gross sales enhance by 1.5%. Greater than half of its U.S. eating places have been renovated for the reason that turnaround started; the burger chain goals to have 85% of its U.S. footprint upgraded by 2028.
Popeyes was the laggard of the portfolio for the latest quarter, reporting same-store gross sales declines of 1.4%. However the fried hen chain’s outcomes have improved in contrast with the primary three months of the 12 months, when its same-store gross sales slid 4%. To elevate gross sales within the second half of the 12 months, Popeyes has a “bunch of innovation” on its schedule, Kobza mentioned.
For the total 12 months, Restaurant Manufacturers reiterated its forecast, anticipating that it’ll spend between $400 million and $450 million on consolidated capital expenditures, tenant inducements and different incentives. The corporate additionally mentioned that it nonetheless expects to succeed in its long-term algorithm, which initiatives 3% same-store gross sales progress and eight% natural adjusted working earnings progress on common between 2024 and 2028.
This story is growing. Please test again for updates.
