Restaurant Brands revenue beats estimates on Burger King sales boost

[July 30, 2021]  (Reuters) - Burger King parent Restaurant Brands International Inc beat estimates for quarterly revenue on Friday, as more customers ate out after COVID-19 restrictions in Canada and the United States were eased.

Burger King's new chicken sandwiches "Ch'King" are seen on display in New York, NY, U.S. May 19, 2021. REUTERS/Aleksandra Michalska/File Photo

Several restaurant chains, including KFC owner Yum Brands and McDonald's, have been investing in their loyalty programs and launching new menu items to boost sales at a time when dining in at restaurants is bouncing back.

For Restaurant Brands, same-store sales at Tim Hortons — its biggest revenue maker — jumped 27.6% in the second quarter, while those at Burger King rose 18.2%.

Net income attributable to common shareholders rose to $259 million, or 84 cents per share, from $106 million, or 35 cents per share, a year earlier.

The company's total revenue increased to $1.44 billion in the second quarter ended June 30, compared with $1.05 billion a year earlier. IBES data from Refinitiv had estimated revenue of $1.37 billion.

(Reporting by Praveen Paramasivam in Bengaluru; editing by Uttaresh.V)

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