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
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
