Tim Hortons, Burger King lift Restaurant Brands earnings

📆 3-5-2023 04:40:00

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Restaurant Brands International Inc beat Wall Street estimates for first-quarter revenue and profit on Tuesday, boosted by higher traffic and prices at Tim Hortons restaurants in Canada despite closures of some U.S. Burger King locations.

📆 3-5-2023 04:40:00
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Burger King and Tim Hortons products are pictured in North Vancouver, Thursday, Sept. 25, 2014. THE CANADIAN PRESS/Jonathan Hayward

Big restaurant chains have posted strong sales in the first quarter despite rising concerns about consumer spending power this year amid stubbornly high inflation. In the first quarter, Burger King closed a net 124 U.S. locations or 1.7 per cent, to end the quarter with just under 7,000 U.S. restaurants, according to its earnings release.

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Tim Hortons parent Restaurant Brands tops earnings estimates as sales surge - National | Globalnews.caRestaurant Brands International Inc. reported a first-quarter profit of US$277 million, up from US$270 million a year earlier, as its revenue also climbed higher.
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