Restaurants Brands International tops estimates on strong growth at Tim Hortons, Burger King

May 03, 2022 7:02 AM ETRestaurant Brands International Inc. (QSR)By: Clark Schultz, SA News Editor

NZX 50 Index Constituent Companies

Dave Rowland/Getty Images News

Restaurant Brands International (NYSE:QSR) edged past consensus marks with its Q1 earnings report.

Total revenue was up 15% to $1.45B. The restaurant operator reported global comparable sales growth of 8.4% for Tim Hortons Canada, 10.3% for Burger King and -3.0% for Popeyes. Unit growth was 6.7% for Tim Hortons, 3.1% for Burger King and 7.9% for Popeyes.

Restaurant Brands reported Q1 net income of $270M or $0.59 per share vs. $270M or $0.58 per share a year ago.

Adjusted EBITDA came in at $530M vs. $480M a year ago.

CEO update: Jose Cil: "We believe we're well positioned to continue our momentum from the first quarter, with experienced leaders guiding our brands and collaborating with our amazing franchisee networks to grow all four of our brands over the long-term."

Later on Tuesday, Restaurant Brands International (QSR) will host a Tim Hortons Canada Investor Day event. The event will give investors an opportunity to hear the Tim Hortons Canada leadership team discuss the brand's business strategy and growth in detail.

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