Restaurant Brand - QSR STOCK NEWS

Restaurant Brands International Inc. (QSR) released preliminary third quarter 2020 financial results, showing a 5.4% decline in consolidated system-wide sales. Comparable sales for Tim Hortons in Canada decreased 13.7%, while 3.2% drop was noted for Burger King in the U.S. However, Popeyes recorded impressive growth, with a 19.7% increase in U.S. sales. RBI's expected revenue is between $1,320 million and $1,340 million, with adjusted EBITDA projected between $555 million and $565 million. Despite challenges, 96% of global restaurants remained operational at the end of September.

The Board of Directors of Restaurant Brands International (QSR) announced the appointment of Jason Melbourne as an independent director. Currently a Managing Director at Canaccord Genuity, Melbourne brings extensive capital market experience from previous roles at Genuity Capital Markets and CIBC World Markets. His addition is expected to enhance strategic decision-making, benefiting brands like Tim Hortons, Burger King, and Popeyes. The company reported approximately $32 billion in annual system-wide sales across over 27,000 restaurants globally.

Restaurant Brands International Inc. (QSR) announced the pricing of a $1,400 million offering of 4.000% Second Lien Senior Secured Notes due 2030, which is a $400 million increase from previous plans. The offering's closing is expected around October 5, 2020. Funds will be used to redeem $1.35 billion of 5.00% Second Lien Senior Secured Notes due 2025. These Notes will be secured by RBI's subsidiaries and were offered to qualified institutional buyers under Rule 144A and Regulation S.

On September 16, 2020, Restaurant Brands International (RBI) announced a $1 billion offering of Second Lien Senior Secured Notes due 2030. The proceeds will be used to redeem a portion of the existing 5% Second Lien Senior Secured Notes due 2025, along with accrued interest, premiums, and fees. The Notes will be guaranteed by RBI's subsidiaries and marketed to qualified institutional buyers under U.S. regulations. RBI is one of the largest quick-service restaurant companies globally, with over $32 billion in annual sales and iconic brands like TIM HORTONS®, BURGER KING®, and POPEYES®.

Restaurant Brands International Inc. (QSR) announced it received an exchange notice from 3G Restaurant Brands Holdings LP to exchange 6,757,692 Class B exchangeable units for cash. The cash repurchase is planned to be financed with available funds, reducing fully diluted shares by the same amount. Following the exchange on October 2, 2020, RBH will hold about 31% of RBI's diluted shares. RBH waived its right to revoke the exchange notice by the September 25, 2020 deadline. RBI operates major brands like Tim Hortons, Burger King, and Popeyes, generating approximately $32 billion in annual sales.

Restaurant Brands International (TSX: QSR, NYSE: QSR) announced its participation in the Scotiabank Back to School Conference on September 15, 2020, at 10:55 am Eastern Time. The event will be held virtually, with a live audio webcast available on the company's investor relations website. A recording of the webcast will be accessible for 30 days post-event. RBI is a leading quick-service restaurant company, generating approximately $32 billion in annual sales across over 27,000 restaurants worldwide.

Restaurant Brands International Inc. (QSR) has appointed Sami Siddiqui as the new President of Popeyes Louisiana Kitchen for the Americas, effective immediately. Siddiqui previously served as President for the Asia-Pacific region, where he successfully introduced Popeyes to China and the Philippines. CEO Jose Cil highlighted Siddiqui's strong franchisee collaboration and expansion efforts. Following this transition, Felipe Athayde will leave RBI to pursue opportunities outside the industry. RBI operates over 27,000 restaurants globally and achieved approximately $32 billion in annual sales.

Restaurant Brands International (QSR) has announced the renewal of its normal course issuer bid (NCIB), allowing the repurchase of up to US$300 million worth of common shares over the next year. This NCIB follows a previous authorization from August 2016 and permits the purchase of 30,000,015 shares, equating to 10% of the public float as of July 25, 2020. The purchases will occur through the TSX, NYSE, or other trading systems. Despite not buying shares in the last 12 months, RBI believes that the current market price represents a good investment opportunity.

Restaurant Brands International Inc. (QSR) reported a substantial recovery in comparable sales, improving by 30 points from March to June 2020, with 93% of its restaurants open globally. Despite facing challenges due to COVID-19, the company achieved $6.482 billion in system-wide sales, although down from $8.445 billion in 2019. Notably, digital sales surged over 120% year-over-year. Adjusted net income dropped to $154 million from $331 million. The company maintains a strong liquidity position with $2.5 billion available and a commitment to long-term initiatives for brand development.