Operations

Restaurant Brands International enjoys solid sales jump in Q1

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May 3, 2022

Restaurant Brands International Inc. saw Q1 2022 systemwide sales growth of 14%, compared to Q1 2021, representing nearly a $1 billion more in revenue year-over-year, and home market digital sales hit the highest levels ever.

The company also saw a record number of first quarter store openings driven by multi-brand international growth and its Popeyes brand in the U.S., according to a press release.

There was global comparable sales growth of 8%, driven by a 10% increase at Tim Hortons Canada and over 20% growth at Burger King International.

"Our first quarter results reflect the hard work of our great franchisees, team members and employees with important milestones including a strong resurgence in comparable sales, record first quarter new restaurant openings and the highest level of digital engagement we have seen from guests across our home markets. This progress allowed us to continue investing behind our key priorities, while also returning over $400 million to shareholders between dividends and share repurchases," CEO José Cil said in the release.

"Tim Hortons Canada and Burger King International had standout sales performances, both with double digit comparable sales growth during the first quarter, while Burger King U.S. continued to lay the foundation to return to long term, sustainable growth. In addition, our strong start to the year in new restaurant openings and the progress we've made in ramping our global development capabilities at Tim Hortons and Popeyes gives us confidence that we are on track to accelerate unit growth in 2022."

Cil stated the company is well positioned to continue the Q1 momentum and said the increase in market digital sales was due to investments relating to customer engagement.