The earnings call for Restaurant Brands International reflected a balanced outlook. The company reported strong growth in system-wide sales and adjusted operating income, driven by robust performance in the Tim Hortons and International segments. However, challenges such as modest growth in Burger King U.S., a decline in Popeyes U.S. comparable sales, and commodity inflation pressures were noted. Despite these challenges, the company's strategic initiatives and franchisee engagement indicate potential for future growth.

Company Guidance -

Q3 2025

During the Restaurant Brands International (RBI) Second Quarter 2025 Earnings Conference Call, guidance was provided on several key metrics. The company reported a 2.4% year-over-year increase in comparable sales and a 2.9% net restaurant growth, which contributed to a 5.3% system-wide sales growth. These factors, combined with disciplined cost management, resulted in a 5.7% organic adjusted operating income growth. The company expressed confidence in delivering at least 8% organic adjusted operating income growth in 2025. Tim Hortons and the International businesses, which together account for nearly 70% of RBI's adjusted operating income, demonstrated strong performance, with Tim Hortons achieving a 3.6% increase in Canadian comparable sales. Additionally, Burger King China, classified as held for sale, showed signs of improvement, with same-store sales turning positive in the second quarter. RBI's strategic focus remains on quality, service, convenience, and efficient business operations to create long-term value for guests, franchisees, and shareholders.

Strong System-Wide Sales Growth

Q2 saw system-wide sales growth of 5.3%, driven by comp sales accelerating to 2.4% year-over-year and net restaurant growth of 2.9%.

Tim Hortons Performance

Tim Hortons delivered its 17th consecutive quarter of positive comparable sales in Canada, with Canadian comparable sales accelerating to 3.6%.

International Segment Growth

International segment delivered nearly 10% system-wide sales growth, with notable outperformance in markets like the U.K., Spain, Australia, and Germany.

Organic Adjusted Operating Income Growth

The company achieved a 5.7% increase in organic adjusted operating income, driven by disciplined cost management.

Franchisee Engagement and Initiatives

Strong franchisee alignment and engagement in initiatives like Carrols refranchising and modernizing assets, indicating future growth potential.

Restaurant Brands International (TSE:QSR) Earnings, Revenues Date & History

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TSE:QSR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 29, 2025	2025 (Q3)	1.38 / -	1.288	―	―	―
Aug 07, 2025	2025 (Q2)	1.33 / 1.29	1.182	9.48% (+0.11)	―
May 08, 2025	2025 (Q1)	1.10 / 1.04	1.003	3.89% (+0.04)	―
Feb 12, 2025	2024 (Q4)	1.12 / 1.16	1.017	13.86% (+0.14)	―
Nov 05, 2024	2024 (Q3)	1.30 / 1.29	1.23	4.72% (+0.06)	―
Aug 08, 2024	2024 (Q2)	1.18 / 1.18	1.145	3.23% (+0.04)	―
Apr 30, 2024	2024 (Q1)	0.98 / 1.00	1.022	-1.86% (-0.02)	―
Feb 13, 2024	2023 (Q4)	0.99 / 1.02	0.961	5.83% (+0.06)	―
Nov 03, 2023	2023 (Q3)	1.16 / 1.23	1.318	-6.68% (-0.09)	―
Aug 08, 2023	2023 (Q2)	1.02 / 1.15	1.054	8.63% (+0.09)	―

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

TSE:QSR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	C$94.32	C$89.46	-5.15%
May 08, 2025	C$92.99	C$93.10	+0.12%
Feb 12, 2025	C$93.79	C$92.20	-1.70%
Nov 05, 2024	C$94.75	C$91.80	-3.11%

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.