Restaurant Manufacturers Worldwide (QSR) Q3 2021 earnings

Restaurant Manufacturers Worldwide on Monday reported quarterly earnings that topped Wall Road’s expectations, however its income fell quick as labor challenges weighed on gross sales.

Shares of the corporate rose lower than 1% in premarket buying and selling.

This is what the corporate reported in contrast with what Wall Road was anticipating, based mostly on a survey of analysts by Refinitiv:

• Earnings per share: 76 cents adjusted vs. 74 cents anticipated
• Income: $1.5 billion vs. $1.52 billion anticipated

The Burger King father or mother reported fiscal third-quarter web revenue attributable to frequent shareholders of $221 million, or 70 cents per share, up from $145 million, or 47 cents per share, a yr earlier.

Excluding objects, Restaurant Manufacturers earned 76 cents per share, beating the 74 cents per share anticipated by analysts surveyed by Refinitiv.

Internet gross sales rose 11.8% to $1.5 billion, falling wanting expectations of $1.52 billion.