Burger King Worldwide Q3 Profit Beats View - Quick Facts

(RTTNews) - Burger King Worldwide, Inc.'s (BKW) third-quarter net profit surged to $68.2 million, or $0.19 per share, from $6.6 million, or $0.02 per share, a year ago. Adjusted earnings per share amounted to $0.23 in the latest quarter. On average, 8 analysts polled by Thomson Reuters expected earnings per share of $0.21 for the quarter. Analysts' estimates typically exclude one-time items.

However, quarterly total revenues fell nearly 40 percent to $275.1 million, from $455.7 million reported in the prior-year period, mainly because of the net refranchising of 519 company-owned restaurants in the TTM period. Excluding the impact of refranchising and currency movements, revenue rose 8.1% year-on-year due to net restaurant growth and positive comparable sales growth in EMEA, LAC and APAC. Five analysts estimated revenues of $266.59 million. During the quarter, global comparable sales went up 0.9% and system-wide sales increased 4.9% in constant currency.

In addition, the board approved an increase in the quarterly dividend to $0.07 per share for the fourth quarter, up from $0.06 per share in the third quarter. The dividend is payable on November 26, 2013, to shareholders of record at the close of business on November 12.