Restaurant Brands (NYSE:QSR) reported its Q4 results yesterday, with EPS of $0.72 coming in worse than the Street estimate of $0.74. Revenue was $1.69 billion, slightly better than the Street estimate of $1.67 billion.
The company also said that Joshua Kobza will become the new Chief Executive Officer (CEO) of the company starting on March 1, 2023. Mr. Kobza has been a part of the company for the past 11 years, and he has held the position of Chief Operating Officer for the last four years.
According to the analysts at Oppenheimer, the profit flow-through issues this quarter vs consensus appear idiosyncratic to Q4/22. Therefore, the analysts said they are buyers of the modest pullback in shares post-print, particularly into strengthening top-line momentum.