Restaurant Brands International Inc. reported its first-quarter financial results on Wednesday, showing increases in both profit and revenue compared to the same period last year. The company, which owns Tim Hortons, Burger King, Popeyes Louisiana Kitchen, and Firehouse Subs, attributed the growth to strong sales across its brands and effective cost management strategies.
Financial Highlights
The Toronto-based company said its net income attributable to common shareholders was $351 million, or $1.15 per diluted share, for the quarter ended March 31. That compares with a profit of $298 million, or 97 cents per diluted share, in the same quarter last year.
Revenue for the quarter totaled $1.82 billion, up from $1.74 billion a year earlier. The increase was driven by higher sales at company-owned restaurants and franchise operations, as well as favorable foreign exchange rates.
Brand Performance
Tim Hortons, the company's flagship brand, saw comparable sales growth of 3.2% in Canada and 2.8% globally. The brand benefited from its popular breakfast and coffee offerings, as well as successful promotional campaigns.
Burger King reported comparable sales growth of 4.1% internationally, while Popeyes Louisiana Kitchen saw a 5.3% increase in global comparable sales. Firehouse Subs, acquired in 2021, continued to expand its footprint in the United States.
Outlook
Restaurant Brands International reaffirmed its full-year outlook, expecting mid-single-digit comparable sales growth and continued expansion of its restaurant network. The company also announced plans to open more than 1,000 new restaurants globally in 2026.
"We are pleased with our first-quarter performance, which reflects the strength of our brands and the dedication of our team members and franchisees," said CEO Josh Kobza in a statement. "We remain focused on delivering long-term value for our shareholders."
Shares of Restaurant Brands International rose 1.2% in trading on the Toronto Stock Exchange following the earnings release.
