Core Insights - CPE has invested $350 million in primary capital to expand Burger King China, aiming to grow the restaurant count to over 4,000 by 2035 [1][3] - The joint venture between CPE and Restaurant Brands International (RBI) combines Burger King's brand strength with CPE's local market expertise, positioning the business for accelerated growth [2][3] - The partnership includes a 20-year master development agreement, granting exclusive rights to develop the Burger King brand in China [3] Company Overview - Restaurant Brands International Inc. (RBI) is a major player in the quick service restaurant sector, with over $45 billion in annual system-wide sales and more than 32,000 restaurants globally [4] - RBI owns several prominent brands, including Burger King, and is focused on sustainable practices through its Restaurant Brands for Good framework [4] - CPE is a leading alternative asset manager in Asia, managing approximately $22 billion in assets and pursuing a long-term value investment strategy across various sectors [5]

Core Viewpoint - Restaurant Brands International Inc. (RBI) has announced a joint venture with CPE to expand Burger King in China, aiming to grow from approximately 1,250 restaurants to over 4,000 by 2035, supported by a $350 million investment from CPE [1][2][5]. Group 1: Investment and Growth Strategy - CPE will invest $350 million in primary capital to support the expansion, marketing, menu innovation, and operations of Burger King in China, one of the fastest-growing consumer markets [2][3]. - The investment will enable Burger King China to double its restaurant count within five years, aligning with RBI's target of achieving over 5% net restaurant growth by the end of its 2024–2028 outlook period [5][6]. Group 2: Partnership and Operational Insights - CPE is recognized as a leading Chinese alternative asset manager with a strong track record in scaling consumer brands, bringing local market insights and operational excellence to the partnership [3][6]. - Following the transaction, CPE will own approximately 83% of the joint venture, while RBI will retain a minority stake of about 17% and a seat on the Board of Directors, reflecting RBI's strategy of collaborating with experienced local operators [6][7]. Group 3: Development Agreement and Future Prospects - A 20-year master development agreement will be signed, granting exclusive rights to develop the Burger King brand in China, with RBI beginning to recognize royalties from this business in its International segment [7]. - The transaction is expected to close in the first quarter of 2026, pending regulatory approvals, marking a significant step in RBI's plan to simplify its business model while focusing on franchising [8].

HOUSTON, March 29, 2024 /PRNewswire/ -- Callon Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today announced the expiration and final tender results of its previously announced cash tender offers (the "Offers") for any and all of its 8.000% Senior Notes due 2028 (the "2028 Notes") and any and all of its 7.500% Senior Notes due 2030 (the "2030 Notes" and, together with the 2028 Notes, the "Notes"). The terms and conditions of the Offers and the Consent Solicitations (as defined below) are set for ...

HOUSTON, March 15, 2024 /PRNewswire/ -- Callon Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today announced the pricing terms of its previously announced cash tender offers (the "Offers") for any and all of its 8.000% Senior Notes due 2028 (the "2028 Notes") and any and all of its 7.500% Senior Notes due 2030 (the "2030 Notes" and, together with the 2028 Notes, the "Notes"). The terms and conditions of the Offers and the Consent Solicitations (as defined below) are set forth in the Offer to Pur ...

HOUSTON, March 15, 2024 /PRNewswire/ -- Callon Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today announced the early tender results of its previously announced cash tender offers (the "Offers") for any and all of its 8.000% Senior Notes due 2028 (the "2028 Notes") and any and all of its 7.500% Senior Notes due 2030 (the "2030 Notes" and, together with the 2028 Notes, the "Notes"). The terms and conditions of the Offers and the Consent Solicitations (as defined below) are set forth in the Offer ...

HOUSTON, March 1, 2024 /PRNewswire/ -- Callon Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today announced that it has commenced cash tender offers (the "Offers") for any and all of its 8.000% Senior Notes due 2028 (the "2028 Notes") and any and all of its 7.500% Senior Notes due 2030 (the "2030 Notes" and, together with the 2028 Notes, the "Notes"), upon the terms and conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated as of March 1, 2024 (as it may be amend ...

Callon Petroleum Company (CPE) reported fourth-quarter 2023 adjusted earnings of $1.62 per share, which missed the Zacks Consensus Estimate of $1.74. The bottom line declined from the $3.36 reported a year ago.Operating revenues of $601.4 million beat the Zacks Consensus Estimate of $563 million. However, the top line declined from the year-ago quarter’s $704.2 million.The weak quarterly earnings were driven by lower realized oil equivalent prices and production volumes.ProductionIn the fourth quarter, CPE’ ...

Callon Petroleum (CPE) reported $601.36 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 14.6%. EPS of $1.62 for the same period compares to $3.36 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $563.3 million, representing a surprise of +6.76%. The company delivered an EPS surprise of -6.90%, with the consensus EPS estimate being $1.74.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...

Callon Petroleum (CPE) came out with quarterly earnings of $1.62 per share, missing the Zacks Consensus Estimate of $1.74 per share. This compares to earnings of $3.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -6.90%. A quarter ago, it was expected that this independent oil and gas company would post earnings of $1.79 per share when it actually produced earnings of $1.82, delivering a surprise of 1.68%.Over the last four ...

42 Tax Risks including (i) the elimination of the immediate deduction for intangible drilling and development costs, (ii) changes to a depletion allowance for oil and natural gas properties, (iii) the implementation of a carbon tax, (iv) an extension of the amortization period for certain geological and geophysical expenditures, (v) changes to tax rates, and (vi) the introduction of a minimum tax. While these specific changes were not included in recent legislation such as the IRA, no accurate prediction ca ...