News

Tim Hortons, Burger King report strong Q1 sales

May 2, 2016

Sales are up at Tim Hortons and Burger King, according to the chains' parent company, Restaurant Brands International, which recently reported Q1 financial results. Innovative product launches and global expansion have contributed to comparable sales and systemwide sales growth for the quarter, said Daniel Schwartz, CEO of Restaurant Brands International, which does more than $23 billion in systemwide sales from over 19,000 restaurants in about 100 countries and U.S. territories

"Building on last year's performance, we generated strong results at both of our iconic brands, Tim Hortons and Burger King, during the first quarter of 2016," he said.  "We believe our focused approach on delivering a great guest experience and growing franchisee profitability will support long-term, sustainable value for our guests, franchisees, employees and shareholders."  

First quarter 2016 highlights:

• Tim Hortons comparable sales increased 5.6 percent.
• Burger King comparable sales increased 4.6.
• Opened 25 Tim Horton units.
• Opened five BK units.
• Systemwide sales grew 7.9 percent at TH and 10 percent at BK in constant currency.
• RBI Adjusted EBITDA was up 22.9 percent on an organic basis to $407.8 million.
• BI Adjusted Diluted EPS was up 95.6 percent to $0.30 per share versus prior year results.
• RBI declared a dividend of $0.15 per common share and partnership exchangeable unit of Restaurant Brands International Limited Partnership for the second quarter of 2016.