Restaurant Brands International CEO Jose Cil discusses the state of restaurants during the coronavirus pandemic.
Restaurant Brands International Inc. sales fell 25 percent in the three months through June as declining revenue at Burger King and Tim Hortons due to the COVID-19 pandemic was countered by growth at Popeyes.
Continue Reading Below
The Toronto-based fast food holding company reported a second-quarter profit of $164 million, or an adjusted 33 cents per share, on sales of $1.05 billion. Wall Street analysts surveyed by Refinitiv were expecting adjusted earnings of 29 cents on $1.03 billion.
“The COVID-19 pandemic has introduced a host of unprecedented challenges, but our proactive and coordinated response across the globe has helped drive a significant recovery in performance since March,” CEO Jose Cil said in a statement. “By the end of the quarter, we were back to 90% of our prior year system-wide sales with 93% of our restaurants open worldwide.”
CLICK HERE TO READ MORE ON FOX BUSINESS
This story is developing. Check back for updates.
