Restaurant Brands Q4 Sales Up 5.8% with 15.6% Rise in Adjusted Operating Income
Restaurant Brands International reported Q4 system-wide sales growth of 5.8% to $12.13 billion and comparable sales up 3.1%, driven by a 6.1% rise at international Burger King and 2.6% at U.S. Burger King. Adjusted Operating Income jumped 15.6% to $674 million, and the company returned about $1.1 billion to shareholders in 2025 while cutting net leverage to 4.2x.
1. Q4 Sales and Comparable Growth
In the fourth quarter, system-wide sales grew 5.8% to $12.13 billion, up from $11.28 billion a year ago. Comparable sales rose 3.1%, led by international Burger King’s 6.1% gain, Tim Hortons Canada’s 2.8% rise and a 2.6% increase at U.S. Burger King, with net restaurant count climbing 2.9% to 33,041 outlets.
2. Profitability and Non-GAAP Income Growth
GAAP revenue in Q4 reached $2.466 billion, while net income declined to $274 million from $361 million a year earlier. On a non-GAAP basis, Adjusted Operating Income rose 15.6% to $674 million, driving adjusted EPS of $0.96, up 18.7% year-over-year.
3. Capital Return and Financial Position
For full-year 2025, the company returned approximately $1.1 billion to shareholders and reduced net leverage from 4.6x to 4.2x. Restaurant Brands achieved its organic AOI growth targets for the third consecutive year and closed the year with system-wide sales up 5.3% to $46.76 billion.