Net income decreases and adjusted earnings beat expectations
- Restaurant Brands International’s 3Q profit falls due to higher costs
- Net income decreases to $252 million, compared to $360 million in the previous year
- Adjusted earnings were 90 cents a share, beating analyst expectations of 84 cents a share
- Total revenues rise to $1.84 billion, in line with analyst expectations
- Consolidated system-wide sales grow almost 11% in the quarter
Restaurant Brands International reported lower third-quarter profit as taxes and other costs weighed on the company. Net income decreased to $252 million, compared to $360 million in the previous year. However, adjusted earnings were 90 cents a share, beating analyst expectations of 84 cents a share. Total revenues rose to $1.84 billion, in line with analyst expectations. Despite the decrease in net income, consolidated system-wide sales grew almost 11% in the quarter, reaching $11.22 billion.
Factuality Level: 8
Factuality Justification: The article provides specific financial information about Restaurant Brands International’s third-quarter profit, net income, adjusted earnings, total revenues, and system-wide sales. The information is supported by data from FactSet and includes comparisons to the previous year. There is no obvious bias or opinion presented in the article.
Noise Level: 3
Noise Justification: The article provides relevant information about Restaurant Brands International’s third-quarter profit, including net income, adjusted earnings, and total revenues. It also mentions the factors that contributed to the decrease in net income. However, it lacks in-depth analysis, scientific rigor, and actionable insights. The article stays on topic and supports its claims with data and examples.
Financial Relevance: Yes
Financial Markets Impacted: Restaurant Brands International
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance of Restaurant Brands International, a multinational fast food company. There is no mention of an extreme event or any impact on financial markets or companies.
Public Companies: Restaurant Brands International (RBI)
Key People:
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