Burger King-parent Restaurant Brands misses revenue estimates -Breaking
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(Reuters) – Restaurant Brands International, (NYSE:) Inc failed to meet its quarterly revenue forecasts Monday because of the Delta variant which slowed a return from offices and a sales crunch at Tim Hortons/Burger King.
In the third quarter that ended September 30, total revenue increased to $1.50billion, up from $1.34billion a year ago. Refinitiv data on IBES estimated that revenue was $1.53 trillion.
Like many other competitors, the hamburger chain has had difficulty ensuring sufficient staff. The newly introduced hand-breaded chicken sandwich is also considered labor-intensive.
The net income attributable common shareholders increased to $221million, or 70c per share in quarter ending Sept. 30, up from $145million, which was 47 cents per shares, one year ago.
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