Restaurant Brands International Inc (NYSE:QSR) stock fell 0.78% (As on November 6, 11:29:35 AM UTC-4, Source: Google Finance) after the company reported quarterly earnings and revenue that missed analysts’ expectations as domestic same-store sales growth for all four of its chains fell short of Wall Street estimates. The company’s worldwide same-store sales grew just 0.3% in the quarter. Burger King, Firehouse Subs and Popeyes all reported same-store sales declines in their home markets. Burger King’s same-store sales fell 0.7% during the three-month period that ended Sept. 30. Analysts had expected the metric to be flat, according to StreetAccount estimates. The chain is in the middle of a turnaround in the U.S., but consumers are also spending less at restaurants, reigniting the value wars between Burger King and its rivals. Popeyes reported same-store sales declines of 4%, well off the expected 0.2% gain, according to StreetAccount estimates. The chain has tried to step up its value offerings recently, first with promotion of three-piece bone-in chicken for $5 and then with the reintroduction of its Big Box deal at $6. Firehouse Subs saw its same-store sales shrink 4.8% in the quarter, compared with an expected decline of 0.4%, according to StreetAccount. The sandwich chain is the latest addition to Restaurant Brands’ portfolio, as of 2021, and the smallest brand by footprint with just 1,300 locations as of the end of the third quarter. Tim Hortons was the top performer, with domestic same-store sales growth of 2.3%. Tims has been growing traffic and improving its speed of service. But the Canadian coffee chain still fell short of Wall Street’s same-store sales growth expectations of 4.1%.

Further, Outside of the U.S. and Canada, Restaurant Brands’ international same-store sales rose 1.8% in the quarter, just shy of estimates of 2.2%. Restaurant Brands reported third-quarter net income attributable to common shareholders of $252 million, or 79 cents per share, unchanged from a year earlier.

QSR in the third quarter of FY 24 has reported the adjusted earnings per share of 93 cents, missing the analysts’ estimates for the adjusted earnings per share of 95 cents, based on a survey of analysts by LSEG. The company had reported the adjusted revenue growth of 24.7 percent to $2.29 billion in the third quarter of FY 24, missing the analysts’ estimates for revenue of $2.31 billion.

Restaurant Brands has trimmed its outlook for full-year system-wide sales growth to a range of 5% to 5.5%, down from its prior range of 5.5% to 6%.