Down 8% YTD, Will Restaurant Brands Stock Recover Following Q2 Results?

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]