Restaurant Brands International's earnings soar, surpassing Wall Street's expectations, thanks to robust international growth, particularly from Burger King restaurants. The company's net income attributable to shareholders reached $113 million, or 34 cents per share, in the fourth quarter, a slight decline from the previous year but still outperforming expectations. Excluding certain expenses, adjusted earnings stood at 96 cents per share, surpassing the anticipated 95 cents. Revenue surged 7.4% to $2.47 billion, with organic revenue up 6.5% after accounting for currency fluctuations and sales from refranchised restaurants. The international segment, led by Burger King, demonstrated impressive same-store sales growth of 5.8%, surpassing the projected 3.7%. This success is attributed to the company's strategic expansion plans, including a joint venture for Burger King China, which closed in late January. Canadian coffee chain Tim Hortons contributed 46% of the revenue, with same-store sales growth of 2.9%, slightly lower than the expected 3.8%. Burger King's overall same-store sales grew by 2.7%, outpacing estimates. However, Popeyes, a fried chicken chain, experienced a 4.8% decline in same-store sales, prompting the company to bring in industry veterans to revive its performance. Restaurant Brands plans to unveil further growth strategies at its investor day in February.
