Restaurant Brands reports mixed results as Burger King's U.S. turnaround shows signs of success

Restaurant Brands International on Thursday reported mixed quarterly results as Popeyes' struggles offset Burger King's successful U.S. turnaround.

Restaurant Brands reported fiscal third-quarter net income attributable to common shareholders of $542 million, or $1.54 per share, up from $315 million, or 96 cents per share, a year earlier.

Net revenue rose 3.1% to $2.53 billion. Across all of its restaurants, the company reported same-store sales growth of 3.8%.

Burger King was the top performer, with U.S. same-store sales growth of 8.4%. The burger chain's home market is in the middle of multiyear turnaround, with a focus on improving its food and restaurants.

Tim Hortons reported same-store sales growth of 1.8% in Canada, its home market.

Popeyes was once again the laggard of Restaurant Brands' portfolio. The fried chicken chain's U.S. same-store sales fell 2.2%.

In recent quarters, Popeyes has struggled as other chicken rivals have lured its customers away with discounts. Restaurant Brands is trying to stage a comeback with improved restaurant operations and a focus on its core menu.

The company's international business saw same-store sales growth of 3.9%, fueled by its Burger King locations.

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