Restaurant Brands International Q1 System-Wide Sales Up 6.2%, $500M Buybacks Resumed
Consolidated system-wide sales rose 6.2% to $11.51 billion in Q1 2026, with comparable sales up 3.2% including 5.8% growth at Burger King U.S. and 5.7% internationally. RBI resumed share repurchases in March, plans $500 million buys this year, and targets 8%+ organic adjusted operating income growth.
1. Q1 Financial Results
Restaurant Brands International delivered total revenues of $2.264 billion in Q1 2026, up from $2.109 billion a year earlier. Net income from continuing operations reached $445 million versus $223 million, driving diluted EPS to $0.97, while adjusted EPS grew 14.6% to $0.86.
2. System-Wide Sales and Comparable Growth
Consolidated system-wide sales increased 6.2% to $11.51 billion on a constant currency basis. Comparable sales climbed 3.2%, buoyed by 5.8% growth at Burger King U.S., 5.7% at international markets, and 1.6% at Tim Hortons.
3. Share Repurchases and Capital Return
The company resumed share repurchases in March and expects to buy back $500 million of stock in 2026. RBI continues to grow its dividend, reflecting confidence in cash flow generation and capital allocation strategy.
4. Outlook and Growth Targets
RBI reaffirmed its target of 8%+ organic adjusted operating income growth for 2026, supported by broad-based comparable sales gains and margin expansion. Net leverage improved to 4.2x from 4.7x, providing financial flexibility for reinvestment.