RBI maintains 2026 segment G&A (ex-RH) guidance of $600 mln to $620 mln
Company expects 2026 RH AOI of about $10 mln to $20 mln
RBI continues to target 8%+ organic AOI growth through 2028
Result drivers
Burger King sales - Higher comparable sales and increased franchise and property revenues at Burger King drove segment revenue and adjusted operating income growth
International royalties - Higher royalty revenues from Burger King and Popeyes restaurants, including resumption of BK China royalties, boosted international segment results
Tim Hortons supply chain - Increased supply chain sales, driven by higher commodity prices and CPG net sales, supported revenue growth at Tim Hortons, partially offset by higher supply chain costs
Quarterly results
Quick service restaurant operator's Q2 system-wide sales grew 6.4% yr/yr, led by Burger King
Adjusted EPS for Q2 rose 12.9% yr/yr to $1.07
Company returned $435 mln to shareholders via dividends and share repurchases
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 7 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the restaurants & bars peer group is "buy"
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 19 three months ago
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