(Toronto) Restaurant Brands International said Wednesday that it expects third-quarter revenues to be between $ 1.32 billion and $ 1.34 billion.
Posted Oct 14, 2020 at 11:33 am
The parent company of Tim Hortons, Burger King and Popeyes restaurants gave their first estimate when 96% of the establishments were open in September.
Adjusted earnings before interest, taxes, depreciation and amortization are expected to be between $ 555 million and $ 565 million.
Restaurant Brands posted total revenue of $ 1.46 billion last year and adjusted profit before tax, interest, depreciation and amortization of $ 602 million for the third quarter.
For the quarter ended September 30, 2020, Restaurant Brands reported that total sales for all franchisees and company-run restaurants were 5.4% lower than a year ago.
Sales of Tim Hortons cafes that had been open for at least a year were down 12.5%, Burger King sales were down 7.0% and Popeyes sales were down 17.4%.