Burger King Worldwide reported a third-quarter net loss of $23.5 million, or 7 cents a share, compared with a profit of $68.2 million, or 19 cents a share, in the year-earlier period. Excluding non-recurring items, such as expenses related to its deal to acquire Tim Hortons , adjusted per-share earnings were 27 cents, matching the FactSet consensus analyst estimate. Total sales rose 1.4% to $278.9 million, just shy of analyst projections of $281.4 million, but global same-store sales rose 2.4% to beat forecasts of and 2.1%, as sales in the U.S. and Canada grew 3.6%. "In the U.S. and Canada, we posted our best quarter of comparable sales growth since 2012 due to our consistent strategy of impactful new product innovation balanced by compelling value offerings," said Chief Executive Daniel Schwartz. The stock wasn't active in premarket trade. Through Monday, the stock has rallied 41% so far this year, while the S&P 500 has gained 9.2%.
Copyright © 2014 MarketWatch, Inc.
Continue Reading Below