Toronto, Ontario--(Newsfile Corp. - September 16, 2024) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging food brands is pleased to announce it has signed a franchisee for Niagara Falls, Ontario for its Heal Wellness brand, a fresh smoothie bowls, acai bowls, and smoothies quick serve restaurant ("QSR"). "When first acquired, Heal had two locations serving smoothie and acai bowls and did not have a franchising program. Today we have ...

TORONTO, Sept. 3, 2024 /PRNewswire/ - Restaurant Brands International Inc. ("RBI") (TSX: QSR) (NYSE: QSR) (TSX: QSP), 1011778 B.C. Unlimited Liability Company (the "Issuer") and New Red Finance, Inc. (the "Co-Issuer" and, together with the Issuer, the "Issuers") announced today that the Issuers have priced an offering of $500 million in aggregate principal amount of 5.625% First Lien Senior Secured Notes due 2029 (the "Notes"). The closing of the offering of the Notes is expected to occur on or about Septem ...

Toronto, Ontario--(Newsfile Corp. - September 3, 2024) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging food brands is pleased to announce the opening of its newest Heal Wellness location in the City of Toronto, located at 577 St. Clair Avenue West. HEAL Wellness To view an enhanced version of this graphic, please visit: https://reportify-1252068037.cos.apbeijing.myqcloud.com/media/production/n_image_76c2a39c6aa3b419436ce3d012728b0 ...

TORONTO, Aug. 12, 2024 /PRNewswire/ - Restaurant Brands International Inc. ("RBI" or the "Company") (TSX: QSR) (NYSE: QSR) announced today that Restaurant Brands International Limited Partnership ("RBI LP") had received an exchange notice from HL1 17 LP (the "Selling Shareholder"), an affiliate of 3G Capital Partners Ltd. ("3G Capital"), to exchange 6,528,013 Class B exchangeable limited partnership units of RBI LP (the "Exchangeable Units"). RBI LP intends to satisfy this notice with the delivery of an equ ...

Core Viewpoint - Restaurant Brands International, Inc. (RBI) reported strong second-quarter 2024 results, with both earnings and revenues exceeding expectations and showing year-over-year growth [1][3][4]. Earnings & Revenue Discussion - Adjusted earnings per share (EPS) reached 86 cents, surpassing the Zacks Consensus Estimate and the previous year's figure of 85 cents by 1.2%, with organic growth of 3.1% year over year [3]. - Quarterly net revenues totaled $2.08 billion, exceeding the consensus mark of $2.05 billion by 1.7% and increasing 17.2% year over year, driven by strong sales growth across various segments [4]. - Consolidated comparable sales increased by 1.9%, and net restaurants grew by 4% year over year, with global system-wide sales rising by 5% year over year [5]. Segmental Revenues - The company operates through five segments: Tim Hortons (TH), Burger King (BK), Popeyes Louisiana Kitchen (PLK), Firehouse Subs (FHS), and International (INTL) [6]. - TH reported revenues of $1.03 billion, up 2.2% year over year, with system-wide sales growth of 5.4% [6]. - BK's revenues were $364 million, an increase of 11.5% year over year, while system-wide sales fell by 0.7% [7]. - PLK generated revenues of $194 million, up 12.2% year over year, with system-wide sales growth of 4.6% [8]. - FHS revenues totaled $53 million, up 10.3% year over year, with system-wide sales growth of 3.3% [9]. - INTL segment revenues reached $232 million, up 6.1% year over year, with system-wide sales growth of 9.2% [10]. Operating Performance - Adjusted operating income rose by 9.5% year over year to $632 million, while adjusted EBITDA increased by 8.4% to $721 million [10]. Cash and Capital - As of the end of the second quarter, the company had cash and cash equivalents of $942 million, down from $1.14 billion at the end of 2023, with long-term debt increasing to $13.1 billion [11]. - Net cash provided by operating activities was $482 million in the first half of 2024, compared to $487 million in the same period last year [12]. Dividend Announcement - The board of directors announced a dividend payout of 58 cents per common share, payable on October 4, 2024, to shareholders of record as of September 20 [13]. 2024 Guidance Updated - RBI expects adjusted net interest expense to be between $565 million and $575 million, and segment G&A (excluding RH) to be in the range of $640 million to $660 million [14]. - Capital expenditures are projected to be approximately $300 million [15]. Long-Term Guidance (2024-2028) - The company anticipates more than 3% growth in comparable sales and at least 5% net restaurant growth from 2024 to 2028, with system-wide sales growth exceeding 8% [16].

Financial Data and Key Metrics - Global comparable sales grew by 1.9%, with net restaurant growth of 4%, leading to system-wide sales growth of 5% and organic adjusted operating income growth of 9.3% [6] - Adjusted EPS was $0.86 for the quarter, representing a 3.1% organic increase year-over-year, excluding FX headwinds and benefits from Restaurant Holdings [33] - Free cash flow generated during the quarter was over $290 million, with $261 million returned to shareholders through dividends [36] Business Line Performance - **Tim Hortons**: Delivered 43% of adjusted operating income, with comparable sales in Canada increasing by 4.9%, driven by strong traffic and check growth [13] - **Burger King US**: Comparable sales were relatively flat, with a 0.8% decline in system-wide sales, but outperformed the broader QSR industry [20] - **Popeyes US**: Grew net restaurants by 3.8% and comparable sales by 0.6%, resulting in system-wide sales growth of 4% [23] - **Firehouse Subs**: Saw relatively flat comparable sales but increased system-wide sales by 3.3%, with over 40% of sales coming through digital channels [27] Market Performance - **International Markets**: Comparable sales grew by 2.6%, with net restaurant growth of 8.2% and system-wide sales growth of 9.2% [17] - **China**: The company acquired Popeyes China and made a co-investment in Tim Hortons China, aiming to grow the business before finding a new partner [10] - **France**: Burger King outperformed the industry, with over 530 locations and $2 billion in annual system-wide sales [17] Strategic Direction and Industry Competition - The company closed the acquisition of Carrols Restaurant Group, planning to remodel 600 Carrols restaurants through 2028 and refranchise the majority of the portfolio [9] - Popeyes is expanding internationally, with significant growth in markets like Spain, the UK, India, and France, and recently entered New Zealand and Costa Rica [18][19] - Burger King US is focusing on value propositions, menu innovation, and operational improvements, with plans to modernize 85-90% of its system by 2028 [22] Management Commentary on Operating Environment and Future Outlook - The company expects system-wide sales growth to be lighter in 2024 compared to the long-term growth algorithm, but remains confident in delivering 8%+ organic adjusted operating income growth [11][38] - Management highlighted the importance of franchisee alignment and cost discipline in navigating the current consumer environment [5][42] - The company is focused on improving operations, digital capabilities, and convenience across all brands to drive long-term growth [44] Other Important Information - The company introduced a new reportable segment, Restaurant Holdings, which includes results from the Carrols acquisition and Popeyes China operations [4] - Tim Hortons Canada achieved a 10% threshold in PM food market share, driven by menu innovation like flatbread pizzas and cold beverages [14][16] - Burger King US is on track to complete nearly 400 remodels in 2024, with remodels driving mid-teens uplift in sales [22] Q&A Session Summary Question: Impact of Restaurant Holdings on operating profit growth [46] - The 8%+ organic adjusted operating income growth guidance excludes Restaurant Holdings, focusing on pre-Carrols transaction results [47] Question: Unit growth expectations for 2024 and beyond [46] - The company expects 4% unit growth in 2024, with plans to accelerate growth in 2025 through improvements in Burger King US, Firehouse, and international markets [48][49] Question: Same-store sales outlook for the second half of 2024 [52] - The company expects second-half comps to be consistent with Q2, around 2%, with stable performance across brands and regions [53] Question: G&A and cost containment in 2024 [58] - G&A reductions are driven by personnel changes, lower incentive-based compensation, and cost discipline measures, with two-thirds of the reductions representing a new baseline [59][61] Question: Burger King US reimage program progress [69] - The company is on track to complete 400 remodels in 2024, with mid-teens sales uplift from reimaged stores, and is transitioning to the new Sizzle image [70][71] Question: Value strategy at Burger King US [76] - Burger King US is maintaining its value offerings, including the $5 Your Way Meal, which is profitable for franchisees and resonates with lower- and middle-income consumers [77][79] Question: Franchisee profitability and cost trends [95] - Burger King US franchisee profitability is stable to improving, with low single-digit commodity and labor inflation expected in the second half of 2024 [96][97] Question: Tim Hortons Canada performance and value positioning [99] - Tim Hortons Canada continues to outperform the industry, with strong value offerings and relentless operational improvements driving growth [100][101] Question: Value messaging in international markets [102] - The company emphasizes great value propositions in international markets, tailoring offerings to local preferences while aligning with core brand strategies [103]

Key Takeaways Burger King and Popeyes parent Restaurant Brands International reported second-quarter earnings that topped analysts' expectations. The earnings beat came despite a revenue miss, with comparable sales growth slowing from a year ago. CEO Josh Kobza said the company faced "short-term consumer pressures" like much of the industry. Burger King and Popeyes parent Restaurant Brands International (QSR) posted second-quarter earnings that topped analysts' expectations, despite slowing comparable sales ...

Restaurant Brands (QSR) came out with quarterly earnings of $0.86 per share, beating the Zacks Consensus Estimate of $0.85 per share. This compares to earnings of $0.85 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 1.18%. A quarter ago, it was expected that this operator of Burger King and Tim Hortons restaurant chains would post earnings of $0.72 per share when it actually produced earnings of $0.73, delivering a surprise ...

Core Viewpoint - Restaurant Brands International is expected to report fiscal Q2 results with revenue slightly above consensus but earnings marginally below expectations, leading to little to no movement in stock price [1][2] Financial Performance - QSR's Q2 2024 revenues are estimated to be around $2.8 billion, reflecting a 9% year-over-year growth in Q1 to $1.74 billion, driven by a 4.6% increase in consolidated comparable sales [3] - The company anticipates full-year 2024 revenues to grow nearly 15% year-over-year to $8 billion [3] - QSR's Q2 2024 earnings per share (EPS) is expected to be $1.18, slightly below consensus estimates, while Q1 EPS grew 18% year-over-year to $0.72 [4] Stock Performance - QSR stock has declined from approximately $78 to $72 year-to-date, underperforming the S&P 500, which has grown about 9% during the same period [1] - The stock has shown inconsistent returns, with -1% in 2021, 7% in 2022, and 21% in 2023, compared to S&P 500 returns of 27% in 2021, -19% in 2022, and 24% in 2023 [1] Market Position - QSR's brands, including Tim Hortons, Popeyes, and Firehouse Subs, have significant international growth potential compared to competitors like McDonald's and Burger King [1] - The company's net restaurant growth in Q1 was 3.9% year-over-year, contributing to a total of 31,113 restaurants globally [1]

Restaurant Brands International Inc. QSR is set to release earnings results for its second quarter, before the opening bell on Aug. 8, 2024. Analysts expect the Toronto, Canada-based company to report quarterly earnings at 87 cents per share. Restaurant Brands is projected to report quarterly revenue of $2.03 billion, according to data from Benzinga Pro. On July 1, Restaurant Brands International announced investments to drive growth in China. Restaurant Brands shares fell 1.7% to close at $70.52 on Wednesd ...