Core Insights - Restaurant Brands International, Inc. (QSR) reported first-quarter 2025 results with earnings and revenues missing the Zacks Consensus Estimate, but both metrics increased year-over-year [1][3] - Following the results announcement, QSR's shares declined by 0.5% [1] Financial Performance - Adjusted earnings per share (EPS) were 75 cents, missing the consensus estimate of 78 cents, but grew 9.9% year-over-year [3] - Quarterly net revenues reached $2.11 billion, missing the consensus mark by 2.1%, yet increased by 21.3% year-over-year [3] - Consolidated comparable sales increased by 0.1% and net restaurant sales rose by 3.3% year-over-year, while global system-wide sales grew by 2.8% [4] Segment Performance - Tim Hortons (TH) reported revenues of $903 million, down 3.7% year-over-year, with system-wide sales flat [6] - Burger King's (BK) revenues were $356 million, up 1.8% year-over-year, but system-wide sales fell by 1.7% [7] - Popeyes Louisiana Kitchen (PLK) generated revenues of $194 million, up 9% year-over-year, with system-wide sales down by 2.4% [8] - Firehouse Subs (FHS) revenues totaled $54 million, up 7.9% year-over-year, with system-wide sales increasing by 7.3% [9] - International (INTL) segment revenues were $218 million, down 2.1% year-over-year, but up 2.3% organically [10] - Restaurant Holdings (RH) segment revenues were $432 million [11] Operating Metrics - Adjusted operating income decreased by 0.2% year-over-year to $539 million, while adjusted EBITDA increased by 2.4% to $642 million [12] - Cash and cash equivalents at the end of Q1 2025 were $899 million, down from $1.33 billion at the end of 2024 [13] Guidance and Future Outlook - The company expects adjusted net interest expense to be between $500 million and $520 million and has lowered segment G&A expectations [15] - Long-term guidance from 2024 to 2028 anticipates over 3% growth in comparable sales and at least 5% net restaurant growth [16]