-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下：公司整體系統銷售額成長6.2%，同店銷售額加速成長3.2%，調整後每股盈餘為0.86美元，較去年成長15%，高於市場預期的0.83美元。有機調整後營業收入成長10.7%，使公司業績超過全年8%的目標。漢堡王美國業務的復甦正在加速，同店銷售額成長5.8%，高於市場預期的3.3%，驗證了「重振雄風」（Reclaim the Flame）投資是關鍵的投資亮點。管理階層已恢復股票回購，目前授權回購規模為9.4億美元，全年目標為5億美元。我們認為，漢堡王美國業務的持續成長勢頭將是其估值倍數擴張的主要催化劑，因為這最清楚地證明了公司復甦正在取得成效。國際業務仍是成長引擎，系統銷售額成長11.1%，連續20個季度實現同店銷售額正成長。 Popeyes美國業務仍構成不利因素，同店銷售額下降6.5%；而Tim Hortons儘管營收成長，但利潤率卻有所下降，這表明其再投資可能具有結構性意義，值得關注。
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Copper Lake Resources to Launch 20-For-1 Reverse Stock Split
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US Total Crude Oil Stocks Fall in Week Ended May 1
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Research
Research Alert: L: Q1 Revenue And Eps Miss, Though Results May Not Be Comparable To Consensus
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:L's Q1 revenue of CAD14.4B (+4% Y/Y) missed consensus by CAD90M, while adjusted EPS of CAD0.49 (+9% Y/Y) fell short of CAD0.52 estimates, though we think PC Financial's presentation in discontinued operations may affect comparability. Food retail same-store sales of 2.4% accelerated from Q4's 1.5%, with drug retail posting 4.1% growth. We view the solid same-store sales momentum as encouraging, particularly given internal food inflation remained well below the 4.4% CPI, indicating L's strong value proposition. Management reiterated 2026 guidance for high single-digit EPS growth and CAD2.4B in gross capex. Store expansion accelerated with 13 net openings, including five hard discount locations, aligning with consumer preference shifts toward value formats. Strong FCF of CAD621M (+189% Y/Y) supported aggressive share repurchases of CAD648M. We believe the pending PC Financial divestiture in Q3 2026 will simplify operations and provide additional capital flexibility for core retail growth.
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