Burger King Worldwide Inc. (NYSE: BKW) reported third-quarter 2012 results before markets opened this morning. The fast-food restaurateur posted adjusted diluted earnings per share (EPS) of $0.17 on revenues of $451 million. In the same period a year ago, the company reported EPS of $0.16 on revenues of $607.7 million. Third-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.15 and $439.85 million in revenues.
The year-over-year decline in revenues was attributed to refranchising transactions and to an unfavorable currency exchange rate. Same-store sales rose 1.6% in North America and 1.8% in Europe, Middle East and Africa. Latin American same-store sales rose 2.7% in the quarter, and only the company’s Asia-Pacific region noted a decline in same-store sales, down 2.2%.
Burger King did not offer any guidance, but the consensus estimates call for fourth-quarter EPS of $0.14 on revenue of $378.43 million. The current full-year estimate calls for EPS of $0.56 on revenue of $1.93 billion.
The third quarter was Burger King’s first full quarter as a publicly traded company. Burger also announced a quarterly cash dividend of $0.04 to be paid on November 29 to shareholders of record as of November 9.
The company’s shares closed at $14.95 on Friday, in a 52-week range of $12.91 to $16.31. Equity markets are closed in the U.S. today due to Hurricane Sandy. The consensus target price for the shares was around $16.90 before today’s report.
Paul Ausick
The Average American Is Losing Momentum On Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4%1 today. Checking accounts are even worse.
But there is good news. To win qualified customers, some accounts are paying more than 7x the national average. That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.