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Restaurant Brands International Inc. (RBI), trading under the symbol QSR, is a global leader in the quick service restaurant (QSR) industry. Founded in 2014 following 3G Capital's acquisition of Tim Hortons International, RBI is headquartered in Toronto, Canada. The company boasts over 30,000 restaurants across more than 100 countries, generating approximately $43 billion in system-wide sales in 2023.
RBI owns and operates four iconic brands: Tim Hortons®, Burger King®, Popeyes Louisiana Kitchen®, and Firehouse Subs®. These brands have a rich history of serving their communities, guests, and franchisees with dedication and quality for decades. Tim Hortons leads in the hot brewed coffee and baked goods market in Canada, while Burger King is renowned globally for its flame-grilled burgers. Popeyes is celebrated for its authentic Louisiana-style fried chicken, and Firehouse Subs is consistently rated highly for its quality and flavor.
RBI's revenue streams are diversified, coming from retail sales at company-owned restaurants, royalty fees, lease income from franchised stores, and Tim Hortons' supply chain operations. The company emphasizes growth and innovation across its brands, leveraging global scale and shared best practices to enhance operational efficiency and customer experience.
Recent strategic initiatives include RBI's acquisition of Carrols Restaurant Group, the largest Burger King franchisee in the U.S., which is set to boost the company's footprint and franchisee profitability through the
Restaurant Brands International reported Q3 2024 results with consolidated system-wide sales growth of 3.2% year-over-year. The company saw comparable sales increase of 0.3%, with Tim Hortons Canada at +2.7% and International at +1.8%. Financial highlights include Income from Operations of $577 million and Adjusted Operating Income of $652 million, up 6.1% organically. Diluted EPS remained steady at $0.79, while Adjusted Diluted EPS rose 4.6% organically to $0.93. The company remains confident in achieving its 8%+ Adjusted Operating Income growth target for 2024.
Restaurant Brands International (RBI) QSR has announced its plans to release third quarter 2024 financial results on Tuesday, November 5, 2024. The company will host an investor conference call at 8:45 a.m. Eastern Time on the same day. Investors can access the earnings call through a webcast on RBI's investor relations website, where a replay will be available for 30 days after the release. Additionally, investors can join the conference call via dial-in numbers provided for U.S., Canadian, and international callers, using the access code 309027.
Restaurant Brands International Inc. (QSR) has announced the pricing of a $500 million offering of 5.625% First Lien Senior Secured Notes due 2029. The proceeds will be used to redeem the outstanding 5.750% First Lien Senior Secured Notes due 2025. This refinancing is expected to be neutral to net leverage and accretive to interest expense. The new notes will be guaranteed by Restaurant Brands International Partnership and its wholly-owned subsidiaries. The offering is expected to close around September 13, 2024, subject to customary conditions. The notes are being offered to qualified institutional buyers and outside the U.S. under Regulation S, and have not been registered under the Securities Act.
Restaurant Brands International Inc. (RBI) has announced the launch of a $500 million First Lien Senior Secured Notes offering due 2029. The company plans to use the proceeds, along with cash on hand, to redeem its outstanding 5.750% First Lien Senior Secured Notes due 2025. The new Notes will be guaranteed by Restaurant Brands International Partnership and its wholly-owned subsidiaries that guarantee the Issuers' existing senior secured credit facilities. The offering is targeted at qualified institutional buyers in the U.S. and international investors, with the Notes not being registered under the Securities Act.
Restaurant Brands International Inc. (QSR) announced the pricing of a secondary offering of up to 6,528,013 common shares by HL1 17 LP, an affiliate of 3G Capital. The offering is related to the exchange of Class B exchangeable partnership units of RBI LP for an equal number of RBI common shares. BofA Securities is acting as the sole book-running manager and has entered into a forward sale agreement with the Selling Shareholder. The offering is expected to close on August 14, 2024, with the settlement of the forward sale agreement and the Exchange occurring on or before August 30, 2024. RBI will not sell any shares or receive proceeds from the offering. The transaction will not change the aggregate number of Exchangeable Units and RBI common shares.
Restaurant Brands International Inc. (QSR) has announced that its subsidiary, RBI LP, received an exchange notice from HL1 17 LP, an affiliate of 3G Capital, to exchange 6,528,013 Class B exchangeable partnership units for an equal number of RBI common shares. Concurrently, HL1 17 LP has commenced an underwritten registered public offering of up to 6,528,013 common shares. The offering involves a forward sale agreement with BofA Securities, acting as the sole book-running manager. RBI will not sell any shares or receive proceeds from this offering. The exchange and settlement of the forward sale agreement are expected to be completed by August 30, 2024.
Restaurant Brands International (RBI) reported its Q2 2024 financial results.
Key highlights include a 5.0% increase in system-wide sales year-over-year and a 1.9% rise in global comparable sales, with notable growth at Tim Hortons Canada (+4.9%) and International (+2.6%).
RBI's net income climbed to $399 million from $351 million the previous year, and their diluted EPS rose to $0.88 from $0.77. Adjusted Operating Income saw a 9.3% organic increase to $632 million, while Adjusted Diluted EPS increased by 3.1% organically to $0.86.
Strategic acquisitions included Carrols Restaurant Group and Popeyes China, leading to the creation of a new operational segment, Restaurant Holdings (RH).
Despite mixed performance across segments, with some declines in Burger King US sales (-0.1%) and International sales growth slowing to +2.6%, consolidated sales and profitability saw robust growth.
Restaurant Brands International (RBI) has announced two significant transactions in China. RBI will acquire Popeyes China for an enterprise value of $15 million, which includes 14 restaurants in Shanghai. This move aims to accelerate growth in the Chinese market, with plans for local team investments and further restaurant development. Additionally, RBI and Cartesian Capital will co-invest up to $50 million in Tims China through convertible notes, increasing RBI's equity ownership to 18%. This funding will be issued in phases, with an initial $40 million at closing. RBI aims to drive growth in the Chinese QSR market, focusing on Popeyes and Tim Hortons brands.
Restaurant Brands International (TSX: QSR, NYSE: QSR, TSX: QSP) will release its second quarter 2024 financial results on August 8, 2024.
An investor conference call will follow at 8:30 a.m. Eastern Time, accessible via webcast on the company's investor relations website.
Dial-in numbers for the call are available for U.S., Canadian, and international callers with the access code 065181.
A replay of the webcast will be available for 30 days post-release.
Restaurant Brands International (TSX: QSR, NYSE: QSR) announced CEO Josh Kobza and Executive Chairman Patrick Doyle will participate in a fireside chat at the Evercore ISI Consumer and Retail Conference on June 13, 2024, at 9:30am ET.
A live audio webcast of the event will be available on RBI's investor relations website for 30 days.
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