Burger King Worldwide, Inc. Earnings: Here’s Why Investors are Excited Now
Burger King Worldwide, Inc (NYSE:BKW) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.62%.
Earnings Cheat Sheet
Revenue: Decreased 30.33% to $404.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Burger King Worldwide, Inc. reported adjusted EPS income of $0.23 per share. By that measure, the company beat the mean analyst estimate of $0.15. It beat the average revenue estimate of $375.31 million.
Quoting Management: “We had a strong finish to the year and made significant progress on key strategic initiatives,” said Bernardo Hees, Chief Executive Officer, Burger King Worldwide, Inc. “We continue to capitalize on our brand by growing globally, adding 485 net new restaurants and growing comparable sales 3.2% for the full year 2012. Our results are evidence that the Four Pillar strategy in the U.S. and Canada and initiatives to accelerate international unit growth are working. During 2012, we made significant progress on our re-imaging initiative, added international master franchise joint venture and development agreements, and refranchised 871 restaurants. We are proud of the hard work and dedication of our employees and franchisees that enabled us to deliver an excellent finish to a critical year for the company. We continue to execute on our strategy, and believe the company is well positioned to deliver sustainable long-term growth.”
Key Stats (on next page)…
Revenue decreased 10.33% from $451.1 million in the previous quarter. EPS increased 35.29% from $0.17 in the previous quarter.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)