Burger King parent Restaurant Brands sees profit fall, but international division shines

Core Insights - Restaurant Brands International reported mixed quarterly results, with net income attributable to shareholders decreasing to $189 million, or 57 cents per share, down from $280 million, or 88 cents per share a year earlier [1][2] Financial Performance - Excluding transaction costs from the acquisition of Burger King China, the company earned 94 cents per share, slightly below the expected 97 cents [5] - Net sales increased by 16% to $2.41 billion, surpassing the expected $2.32 billion [5] - Same-store sales rose by 2.4% during the quarter, with international restaurants showing stronger growth at 4.2% [2][3] Segment Performance - Tim Hortons, which contributes over 40% of total revenue, reported same-store sales growth of 3.4% [3] - Burger King achieved same-store sales growth of 1.3%, with its U.S. division seeing a 1.5% increase [3] - Popeyes experienced a decline in same-store sales of 1.4%, marking it as the underperformer in the portfolio [3] Future Outlook - The company reiterated its full-year forecast, expecting to spend between $400 million and $450 million on capital expenditures and incentives [4] - Restaurant Brands anticipates achieving its long-term growth targets of 3% same-store sales growth and 8% organic adjusted operating income growth on average from 2024 to 2028 [4]