Restaurant Brands Q1 EPS 86¢, $2.26B Revenue on 5.8% Burger King Sales Gain
Restaurant Brands International reported Q1 adjusted EPS of 86 cents and revenue of $2.26 billion, topping analyst forecasts. Burger King U.S. same-store sales gained 5.8% as $189 million of a planned $550 million remodel was deployed; company resumed $500 million share repurchases and reaffirmed its 8% organic growth target.
1. Q1 Financial Results
Restaurant Brands International delivered adjusted earnings of 86 cents per share on revenue of $2.26 billion in the first quarter. Net income doubled to $338 million and adjusted operating income rose 10.7% on an organic basis to $610 million.
2. Burger King Turnaround
The U.S. Burger King chain posted a 5.8% same-store sales increase versus a 3.5% forecast, driving system-wide sales up 5.5% on a constant‐currency basis. The gains reflect $189 million spent out of a $550 million ‘Reclaim the Flame’ remodel and equipment upgrade program.
3. Tim Hortons and Popeyes Performance
Tim Hortons achieved its 20th consecutive quarter of positive comparable sales with a 1.6% gain, below the 2.5% forecast. Popeyes saw comparable sales plunge 6.5% and system-wide sales decline 3.9%, marking the weakest performance among the brands.
4. Share Repurchases and Guidance
Restaurant Brands resumed share repurchases in March and plans to buy back $500 million of stock in 2026. The company reaffirmed its full-year target of at least 8% organic adjusted operating income growth and reiterated long-term objectives for comparable sales and expense guidance.