Restaurant Brands International Inc. · Q3 2022 earnings

Briefing

RBI's financial performance for Q3 2022 was reported, demonstrating growth in system-wide sales and comparable sales across its brands.

Restaurant Brands International Inc. reported strong Q3 2022 results, with a 9% increase in consolidated comparable sales and a 4% net restaurant growth. The company's diversified global business model and investments in key areas drove the positive performance. Tim Hortons' sales momentum and Burger King's Reclaim the Flame plan contributed to the growth.

• Consolidated system-wide sales grew by 14%, with Popeyes increasing by 12%, Tim Hortons by 13%, and Burger King by 14%.
• Global comparable sales accelerated to 9%, driven by 11% growth at Tim Hortons Canada and 15% at Burger King International.
• Digital sales increased by 26% year-over-year, reaching approximately $3.4 billion and representing a third of system-wide sales.
• RBI continued to return capital through its dividend while investing in its brands and reducing net leverage.

Headline financials

Revenue & EPS history

Burger King shared the details of its “Reclaim the Flame” plan to accelerate sales growth and drive franchisee profitability. As part of the plan, they will enhance ongoing franchisee investments by investing $400 million over the next two years, comprising $150 million in advertising and digital investments and $250 million in restaurant technology, kitchen equipment, building enhancements, and high-quality remodels and relocations.