Financial Data and Key Metrics Changes - In Q1 2025, consolidated comparable sales increased by 0.1% or just over 1% excluding Leap Day, with net restaurant growth at 3.3% [6][7] - System-wide sales growth was reported at 2.8%, while organic adjusted operating income growth was 2.6% [6][32] - Adjusted EPS rose to $0.75 per share from $0.73, reflecting nominal growth of 3.3% and organic growth of 9.9% [34] Business Line Data and Key Metrics Changes - Tim Hortons Canada experienced flat comparable sales of 0.1% or approximately 1.2% after adjusting for Leap Day [8] - Burger King U.S. saw a 1.1% decrease in comparable sales, but continued to outperform the broader QSR category [17] - Popeyes in the U.S. and Canada reported a 4% decline in comparable sales, following a 5.7% increase in the prior year [21] Market Data and Key Metrics Changes - International segment comparable sales grew by 2.6% or roughly 3.7% excluding Leap Day, with system-wide sales growth of 8.6% [12] - Strong growth was noted in key markets such as the UK, Germany, Brazil, Japan, and Australia [12][13] - Burger King India crossed the 500 restaurant milestone, indicating significant growth potential [14] Company Strategy and Development Direction - The company aims to deliver at least 8% organic adjusted operating income growth in 2025, focusing on improving the value proposition for guests [7] - A strategic shift towards refranchising Carrols and enhancing operational excellence across brands is underway [40] - The company is actively working to secure a new local partner for Burger King China, with plans for a portfolio cleanup to reposition the business for long-term success [16][28] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging macro environment but expressed confidence in the underlying strength of the brands and operational plans [6][7] - There is optimism regarding improved sales momentum in April and a stronger start to Q2 [7][32] - The company expects to maintain targets for 3% plus comparable sales and 8% plus organic AOI growth on average through 2028 [27] Other Important Information - The company generated $89 million in free cash flow in Q1, impacted by $77 million in cash tax payments [35] - Capital expenditures are expected to be in the $400 million to $450 million range for 2025 and 2026, up from over $330 million in 2024 [37] - The company is focusing on operational efficiency and has revised segment G&A guidance to $600 million to $620 million for 2025 [39] Q&A Session Summary Question: Impact of Canadian macro environment on Tim Hortons - Management noted a slight dip in consumer confidence but observed improvements in Q2, with confidence in Tim Hortons' performance due to strong marketing initiatives [47][50] Question: Trends in international markets - Management expressed satisfaction with international performance, highlighting positive same-store sales and strong brand positioning in key markets [52][56] Question: Performance of Burger King U.S. - Management attributed Burger King's relative outperformance to improved operations and ongoing remodels, with plans for continued enhancements throughout the year [65][68]

Core Viewpoint - Restaurant Brands (QSR) reported quarterly earnings of $0.75 per share, missing the Zacks Consensus Estimate of $0.78 per share, but showing an increase from $0.73 per share a year ago [1][2] Financial Performance - The company posted revenues of $2.11 billion for the quarter ended March 2025, missing the Zacks Consensus Estimate by 2.13%, compared to $1.74 billion in the same quarter last year [3] - The earnings surprise for the quarter was -3.85%, while the previous quarter saw a positive surprise of 2.53% with earnings of $0.81 per share against an expectation of $0.79 [2] Stock Performance - Restaurant Brands shares have increased approximately 4.2% since the beginning of the year, contrasting with a -4.3% decline in the S&P 500 [4] - The current Zacks Rank for the stock is 3 (Hold), indicating expected performance in line with the market in the near future [7] Future Outlook - The consensus EPS estimate for the upcoming quarter is $0.96 on revenues of $2.35 billion, and for the current fiscal year, it is $3.67 on revenues of $9.25 billion [8] - The outlook for the industry, specifically the Retail - Restaurants sector, is currently in the bottom 22% of over 250 Zacks industries, which may impact stock performance [9]

Core Insights - Restaurant Brands International reported quarterly earnings and revenue that fell short of analysts' expectations, with same-store sales for Popeyes, Burger King, and Tim Hortons declining [1] - The company's shares dropped over 2% in premarket trading following the earnings report [1] Financial Performance - The first-quarter net income attributable to shareholders was $159 million, or 49 cents per share, a decrease from $230 million, or 72 cents per share, in the same quarter last year [1] - Excluding items, the adjusted earnings per share were 75 cents, compared to the expected 78 cents [2][3] - Net sales increased by 21% to $2.11 billion, but this was below the expected $2.13 billion [2][3]

EXHIBIT 99 Restaurant Brands International Inc. Reports First Quarter 2025 Results Consolidated system-wide sales grow 2.8% year-over-year, including 8.6% in International Global comparable sales of 0.1%, or over 1% adjusting for Leap Day RBI remains on track for 8%+ organic Adjusted Operating Income growth in 2025 (a) Miami, May 8, 2025 - Restaurant Brands International Inc. ("RBI") (TSX: QSR) (NYSE: QSR) (TSX: QSP) today reported financial results for the first quarter ended March 31, 2025. Josh Kobza, Ch ...

Core Insights - Restaurant Brands International Inc. (RBI) reported a consolidated system-wide sales growth of 2.8% year-over-year, with international sales growing by 8.6% [1][2] - Global comparable sales were flat at 0.1%, but adjusted for Leap Day, they increased by over 1% [1] - The company is on track to achieve at least 8% organic adjusted operating income growth in 2025 [1] Financial Highlights - Total revenues for the first quarter of 2025 reached $2,109 million, up from $1,739 million in the same period of 2024 [2] - Income from operations decreased by 20% to $435 million compared to $544 million in the previous year [2] - Net income from continuing operations was $223 million, down from $328 million [2] - Diluted earnings per share from continuing operations fell to $0.49 from $0.72 [2] Operational Highlights - System-wide sales for the first quarter of 2025 were $10,496 million, slightly down from $10,512 million in 2024 [2] - Net restaurant growth was 3.3%, with a total system restaurant count of 32,149 at the end of the period [2] - Comparable sales growth was 0.1%, a significant decrease from 4.6% in the previous year [2] Segment Performance - The Tim Hortons segment reported a system-wide sales growth of 0.0% and comparable sales of -0.1% [11] - The Burger King segment experienced a system-wide sales decline of 1.7% and comparable sales decrease of 1.3% [13] - The Popeyes segment saw a system-wide sales decline of 2.4% and comparable sales decrease of 4.0% [20] - The Firehouse Subs segment achieved a system-wide sales growth of 7.3% [21] - The International segment reported a system-wide sales growth of 8.6% [23] Strategic Initiatives - RBI is executing a multi-year "Reclaim the Flame" plan for Burger King, which includes investments of up to $700 million through 2028 [17] - The company completed acquisitions of Carrols Restaurant Group and Popeyes China, establishing a new operating segment called Restaurant Holdings [4][5] - RBI plans to maintain franchisor dynamics across its segments while refranchising the majority of the Carrols Burger King restaurants [6] Guidance and Long-Term Outlook - For 2025, RBI expects segment general and administrative expenses (excluding Restaurant Holdings) to be between $600 million and $620 million [28] - The company anticipates achieving 5%+ net restaurant growth towards the end of its long-term algorithm period from 2024 to 2028 [29] - RBI continues to expect organic adjusted operating income growth of 8%+ and comparable sales growth of 3%+ [36]

Toronto, Ontario--(Newsfile Corp. - May 6, 2025) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leader in acquiring and scaling emerging food brands across Canada is pleased to announce that as of May 6th, 2025, it has exercised its right to acquire the remaining 50% of Heal Wellness ("Heal"), making the brand a 100% wholly owned subsidiary of Happy Belly. Heal is a fresh smoothie bowls, acai bowls, and smoothies quick serve restaurant ("QSR"). "Three years ago ...

Analysts on Wall Street project that Restaurant Brands (QSR) will announce quarterly earnings of $0.78 per share in its forthcoming report, representing an increase of 6.9% year over year. Revenues are projected to reach $2.15 billion, increasing 23.9% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during thi ...

Group 1 - The author has extensive experience in executive management, particularly in insurance/reinsurance and global markets, with a focus on economic development and climate change [1] - The author has a beneficial short position in QSR:CA, indicating a bearish outlook on the stock [2] - The analysis provided is based on personal opinions and does not constitute investment advice [3] Group 2 - Seeking Alpha emphasizes that past performance does not guarantee future results and that the views expressed may not reflect the platform's overall stance [4]

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or ...

Toronto, Ontario--(Newsfile Corp. - April 25, 2025) - 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 that its Alberta multi-unit franchisee has successful opened another Heal Wellness location in Calgary's Historic Alberta Block. Heal Wellness ("Heal") is a fresh smoothie bowls, acai bowls, and smoothies quick serve restaurant ("QSR"). The Grand opening will be at Suite 105, 805 First Street SW, ...