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Parent company of Burger King, Popeyes, Tim Hortons happy with Q3 results

October 26, 2017

Restaurant Brands International Inc., parent company of Burger King, Popeyes and Tim Hortons, released Q3 results today. CEO Daniel Schwartz said the numbers prove that the company is going in the right direction.

"During the third quarter, we continued to grow each of our three iconic brands all around the world. Burger King’s strong momentum continued in the US and internationally, both in terms of comparable sales and net restaurant growth," Schwartz said in a company press release. "At Tim Hortons, we began to see the positive impact of our recent initiatives, including the rollout of our espresso-based beverage platform, as well as our mobile app launch. 

"We made further progress integrating Popeyes, and we continue to be very excited about the growth prospects for the brand in the US and around the world. We believe that, together with our restaurant owners, we have the right strategy in place to drive long-term growth for each of our three iconic brands."

Third Quarter 2017 Highlights:

• Total revenues of $1.21 billion versus $1.08 billion in prior year period.
• Net income attributable to common shareholders of $91.4 million versus $86.3 million in the prior year period.
• Diluted EPS of 37 cents versus 36 cents in prior year period.
• Comparable sales (constant currency) of 0.3 percent at Tim Hortons, 3.6 percent at Burger King and 1.8 percent at Popeyes.
• System-wide sales growth (constant currency) of 3 percent at Tim Hortons, 11.2 percent at Burger King and 4.5 percent at Popeyes.
• Adjusted EBITDA of $565.1 million, up 7.6 percent on an organic basis versus prior year combined results (including Popeyes).
• Adjusted diluted EPS of 58 cents versus 43 cents in prior year period.
• RBI declared dividends of 21 cents per common share and partnership exchangeable unit of Restaurant Brands International Limited Partnership for the fourth quarter of 2017.