Restaurant Brands (QSR) Tops Q2 Earnings and Revenue Estimates

Core Insights - Restaurant Brands (QSR) reported quarterly earnings of $0.86 per share, exceeding the Zacks Consensus Estimate of $0.85 per share, and showing an increase from $0.85 per share a year ago [1] - The company achieved revenues of $2.08 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.70% and up from $1.78 billion year-over-year [3] Earnings Performance - The earnings surprise for the recent quarter was 1.18%, following a previous quarter where the company also exceeded expectations with a surprise of 1.39% [2] - Over the last four quarters, Restaurant Brands has consistently surpassed consensus EPS estimates [2] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.93 on revenues of $2.25 billion, and for the current fiscal year, it is $3.36 on revenues of $8.25 billion [8] - The estimate revisions trend for Restaurant Brands is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [7] Industry Context - The Retail - Restaurants industry, to which Restaurant Brands belongs, is currently ranked in the bottom 30% of over 250 Zacks industries, which may impact stock performance [9] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that investors should monitor these revisions closely [6]