Burger King Beats, Initiates Dividend

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


Filed under: 24/7 Wall St. Wire, Earnings, Food, Services Tagged: BKW

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neilbarcume

When I read the line that BK has some good news I was hopeing that they were going out of buisness .
( I hate fast food joints )

October 29 2012 at 7:07 PM Report abuse rate up rate down Reply
alfredschrader

My mom invented the Whopper in 1962. It was originally called the Whopper from the start, but it was my mom's idea to put lettuce, tomato, and Miracle Whip on it. Some time later it was changed to Hellman's Mayo. I wish I had thought of it, but my mom gets the credit (Sophia).
I've invented a lot of new stuff since then. The latest thing I'm working on is a new sandwich made with rare roast beef roasted with cayenne pepper, lettuce, tomato, and thousand island dressing on toasted Marble Rye bread.

October 29 2012 at 5:02 PM Report abuse rate up rate down Reply
ppiken

The article is about BK.... why the pictures of In N Out? People going to BK and expecting a burger as good as the one in the picture will be highly let down.

October 29 2012 at 4:10 PM Report abuse rate up rate down Reply
golfinkatiekat77

If I'm going to eat a "fast food" burger, I go to 5 Guys or FatBurger. I know the quality there is a given! If I must have a burger and neither of the two above options are available, I will go to Wendy's. At least their beef isn't supposed to ever have been frozen.

October 29 2012 at 3:55 PM Report abuse rate up rate down Reply
katmogie

it is a in n out burger order, preger over burger king anyday

October 29 2012 at 3:41 PM Report abuse rate up rate down Reply
eliramhar

So am I wrong or is that a picture of an In-and-Out order...double double and fries?

October 29 2012 at 2:13 PM Report abuse rate up rate down Reply
1 reply to eliramhar's comment
duti

omg...you are so right!!

October 29 2012 at 2:34 PM Report abuse rate up rate down Reply