Burger King reports strong growth in third-quarter

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The full corporate name of the home of the Whopper is Burger King Worldwide, and it’s living up to its name.

FILE/ASSOCIATED PRESS  FILE/ASSOCIATED PRESS
FILE/ASSOCIATED PRESS
FILE/ASSOCIATED PRESS

The fast-food chain on Monday reported stronger third-quarter earnings than analysts expected, driven in part by rising sales at restaurants outside the U.S.

The strongest growth came from Asia, where revenue at restaurants open at least a year rose 3.7 percent. It’s a key figure because it removes the revenue boost that companies get from opening new restaurants.

Burger King also reported growth in Germany, Brazil and other areas.

That helped offset a 0.3 percent decline in revenue from U.S. and Canadian restaurants open more than a year.

Burger King has been opening more restaurants overseas as well: It opened 146 company-owned and franchise restaurants during the quarter outside North America, while closing 13 in the U.S. and Canada.

THE STOCK

Company Name (BKW)

Monday’s close:

$20.90 ▲ $1.14, or 5.77%

52-week range $14-$22

Annual dividend $0.24

Dividend yield 1.2%

Price-earnings ratio * 47

Total return YTD 28%

6-months ** 15%

1-year ** 41%

Market value $7.3 billion

Note: Total returns through Monday

* Trailing 12 months; ** Annualized

Source: FactSet, Associated Press

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