Restaurant Brands International Inc. Announces New Segment Reporting and Key Dates for 2024

Rhea-AI Summary

Restaurant Brands International Inc. (RBI) (TSX: QSR) (NYSE: QSR) announces a shift in its reportable segments, providing enhanced disclosure on international and home market businesses. The company will report under five segments: Tim Hortons, Burger King, Popeyes Louisiana Kitchen, Firehouse Subs, and International. RBI will also provide historical financial and operational metrics for these segments on January 8, 2024, and host an investor event on February 15, 2024.

RBI to Report Under Five Segments Providing Enhanced Disclosure on International and Home Market Businesses
New Segment Historical Financial and Operational Metrics to be Provided on January 8, 2024
RBI Announces a February 15, 2024 Investor Event and Provides a Preliminary 2024 Earnings Calendar 

TORONTO, Dec. 14, 2023 /PRNewswire/ - Restaurant Brands International Inc. ("RBI", "the company") (TSX: QSR) (NYSE: QSR) (TSX: QSP) today announced a shift in its reportable segments. In addition, RBI announced key 2024 dates, including an upcoming Investor Event on February 15, 2024, and preliminary 2024 earnings call dates.

Segment Reporting

As previewed during RBI's third quarter 2023 earnings conference call, the company will report results under five reportable segments: (1) Tim Hortons ("TH"); (2) Burger King ("BK"); (3) Popeyes Louisiana Kitchen ("PLK"); (4) Firehouse Subs ("FHS"); and (5) International ("INTL"). The TH, BK, PLK and FHS segments include results from each brands' operations in the United States and Canada. INTL includes consolidated results from each brands' operations outside of the United States and Canada. This shift in reportable segments reflects how RBI's leadership intends to oversee and manage the business going forward. The company will report under these segments beginning with its results for the fourth quarter and year ended December 31, 2023.

The company will provide supplemental unaudited information containing 11 quarters (from the first quarter of 2021 through the third quarter of 2023) of historical financial and operational metrics for these five reportable segments in a press release and Form 8-K to be published January 8, 2024. RBI will continue to provide key operational metrics by brand for their respective home markets and consolidated international markets. The supplemental unaudited historical business segment information does not represent a restatement or reissuance of previously issued financial statements and relates entirely to segment presentation with no effect on previously reported consolidated results.

The company will be available to discuss any questions related to the shift in segment reporting following the release through January 19, 2024. 

February 15, 2024: A Conversation with Josh Kobza and Patrick Doyle

The company will host a meeting with Chief Executive Officer, Josh Kobza, and Executive Chairman, Patrick Doyle, on Thursday, February 15, 2024, starting at 1:00 p.m. Eastern Time. The event will provide investors with the opportunity to hear directly from Messrs. Kobza and Doyle about their views of the business approximately one year into their respective roles. A live webcast of the presentation will be available on the company's investor relations website and a replay will be available for 30 days following the event.

2024 Reporting Calendar

RBI expects to report earnings on the following dates in 2024:

• February 13, 2024: Fourth quarter and year ended December 31, 2023
• April 30, 2024: First quarter ended March 31, 2024
• August 8, 2024: Second quarter ended June 30, 2024
• November 5, 2024: Third quarter ended September 30, 2024

For each of these earnings calls, the company will provide conference call dial-in information via a separate press release closer to the event.

About Restaurant Brands International Inc.

Restaurant Brands International Inc. is one of the world's largest quick service restaurant companies with over $40 billion in annual system-wide sales and over 30,000 restaurants in more than 100 countries. RBI owns four of the world's most prominent and iconic quick service restaurant brands – TIM HORTONS®, BURGER KING®, POPEYES®, and FIREHOUSE SUBS®. These independently operated brands have been serving their respective guests, franchisees and communities for decades. Through its Restaurant Brands for Good framework, RBI is improving sustainable outcomes related to its food, the planet, and people and communities. To learn more about RBI, please visit the company's website at www.rbi.com.

Forward-Looking Statements

This press release contains certain forward-looking statements and information, which reflect management's current beliefs and expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties. These forward-looking statements include statements about our expectations regarding our future structure, growth, positioning, plans and strategies for each of our brands and international markets, as well as the timing and content of future events and reporting. The factors that could cause actual results to differ materially from RBI's expectations are detailed in filings of RBI with the Securities and Exchange Commission and applicable Canadian securities regulatory authorities, such as its annual and quarterly reports and current reports on Form 8-K, and include the following: future restructurings and strategic initiatives that RBI undertakes, risks related to unforeseen events such as pandemics, geopolitical conflicts and macroeconomic conditions; risks related to our fully franchised business model; risks related to RBI's ability to successfully implement its domestic and international growth strategy and risks related to its international operations; risks related to RBI's ability to compete domestically and internationally in an intensely competitive industry; our ability to address environmental and social sustainability issues and changes in applicable tax and other laws and regulations or interpretations thereof. Other than as required under U.S. federal securities laws or Canadian securities laws, we do not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, change in expectations or otherwise.

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FAQ

What is the shift in reportable segments announced by Restaurant Brands International Inc. (RBI)?

RBI is shifting to report under five segments: Tim Hortons, Burger King, Popeyes Louisiana Kitchen, Firehouse Subs, and International.

When will RBI provide historical financial and operational metrics for the reportable segments?

RBI will provide historical financial and operational metrics for the five reportable segments on January 8, 2024.

When is the investor event hosted by RBI, and who will be present?

RBI will host an investor event on February 15, 2024, featuring Chief Executive Officer Josh Kobza and Executive Chairman Patrick Doyle.

What are the ticker symbols for Restaurant Brands International Inc.?

The ticker symbols for Restaurant Brands International Inc. are TSX: QSR and NYSE: QSR.