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Restaurant Brands International (QSR)
NYSE:QSR
Earnings Data
Report Date
May 06, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.82Last Year’s EPS
0.75Same Quarter Last Year
Moderate Buy
Based on 20 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive tone: the company delivered consistent and predictable earnings growth (third consecutive year of ~8% organic AOI growth) with strong International momentum, Tim Hortons resilience, meaningful cash generation, and progress on refranchising. Key negatives included commodity-driven pressure (notably beef) that compressed Burger King franchisee profitability, weaker Popeyes sales and execution challenges, a temporary P&L headwind from BK China classification in 2025, and a near-term lull in consolidated unit growth. Management provided actions and guidance to mitigate these issues and reiterated a commitment to another year of 8% AOI growth in 2026, indicating confidence that the positives outweigh the headwinds.Company Guidance
Consistent Earnings Growth
Organic adjusted operating income (AOI) growth of 8.3% for FY2025 and nominal adjusted EPS growth of 10.7% to $3.69 per share — the third consecutive year of roughly 8% organic AOI growth.
Top-Line Performance
Full-year comparable sales +2.4%, net restaurant growth +2.9%, and system-wide sales growth +5.3%, demonstrating underlying revenue momentum across the portfolio.
Strong Cash Generation and Shareholder Returns
Generated nearly $1.6 billion of free cash flow in 2025 (including $365 million of CapEx/cash inducements) and returned $1.1 billion to shareholders via dividends.
Tim Hortons Outperformance and Customer Engagement
Tim Hortons Canada Q4 comparable sales +2.8% (outperforming Canadian QSR by ~2 points); Q4 beverage +3.2% and cold beverages +8.6% (27% of beverage mix, record Q4); breakfast sales +3.5%; average four-wall EBITDA in Canada ~C$295,000; digital/kiosk adoption and loyalty strong (≈33% of sales from members).
International Segment Strength
International comparable sales +4.9% for the year (Q4 +6.1%), net restaurant growth +4.9%, and system-wide sales growth ~11%; standout market performance includes Burger King Japan (+22% comps in 2025) and multiple billion-dollar country businesses (e.g., Spain, Germany, Australia, Brazil, UK, France).
Strategic Partnership and Capital for China
Completed joint venture for Burger King China with CPE; CPE injected $350 million of primary capital and the parties aim to roughly double the restaurant footprint to at least 2,500 units by 2030.
Burger King US Operational Progress
Burger King US comparable sales +1.6% for the year (Q4 +2.6%); outperformed the burger QSR industry in 9 of the last 12 quarters; modern image penetration increased to 58% (from 51%); A operator restaurants outperformed system-average profitability by nearly $50,000.
Firehouse Subs Momentum
Firehouse comparable sales +1.1% for the year (Q4 +2.1%), net restaurant growth +7.7% with 104 net new restaurants opened, driving system-wide sales growth of 8% and franchisee profitability rising to over $100,000.
Cost and Expense Discipline
Segment G&A stepped down by $38 million year-over-year and adjusted net interest expense decreased ~$43 million year-over-year, aiding flow-through from system sales to AOI.
Refranchising Momentum
Began Burger King US refranchising ahead of schedule and slightly exceeded guidance (target 50–100 restaurants refranchised in 2025), accelerating the shift toward a higher franchise mix.
QSR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
QSR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 20, 2026 | $68.82 | $67.53 | -1.87% |
Feb 12, 2026 | $70.70 | $66.35 | -6.15% |
Oct 30, 2025 | $65.44 | $66.42 | +1.50% |
Aug 07, 2025 | $67.34 | $63.88 | -5.15% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Restaurant Brands International (QSR) report earnings?
Restaurant Brands International (QSR) is schdueled to report earning on May 06, 2026, Before Open (Confirmed).
What is Restaurant Brands International (QSR) earnings time?
Restaurant Brands International (QSR) earnings time is at May 06, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is QSR EPS forecast?
QSR EPS forecast for the fiscal quarter 2026 (Q1) is 0.82.
