Restaurant Brands International has beaten estimates for quarterly revenue and profit, led by soaring online sales and a recovery in demand at its Burger King and Tim Hortons chains.
Consumers are increasingly venturing out to restaurants, encouraged by higher rate of vaccinations and easing Covid-19 curbs.
This comes after the nearly two-year long health crisis prompted closures and dine-in restrictions that kept people away from their favourite fast-food chains.
As more people ordered their comfort foods online during the pandemic, Restaurant Brands, like its peers, has been ramping up investments in its e-commerce business.
The company's Cajun-inspired Popeyes chain rolled out its first ever rewards programme last year.
Restaurant Brands' global digital sales rose more than 65% to $10 billion in 2021 on the back of these efforts to boost the e-commerce business.
Demand for breakfast items has also rebounded as more people resume working from their offices and grab their sandwiches and coffees on their way to work, benefiting coffeehouse chains such as Tim Hortons and Starbucks.
Tim Hortons, which typically accounts for over half of Restaurant Brands' revenue, posted an 11.3% increase in comparable sales in Canada, ahead of estimates of a 10.4% growth.
Same-store sales at Burger King in the US rose nearly 2%, also above expectations of a marginal decline.
However, the company's Popeyes chain, known for its fried chicken sandwiches, missed estimates for US comparable sales growth, as it grapples with stiff competition from rivals such as McDonald's and Yum Brandss KFC, which have launched similar menu items.
Restaurant Brands said its total revenue rose about 14% to $1.55 billion in the fourth quarter ended 31 December, beating estimates of $1.52 billion, according to IBES data from Refinitiv.
Excluding items, the Toronto, Ontario-based company earned 74 cents per share, topping estimates of 69 cents.
