{"id":872308,"date":"2025-08-07T06:34:59","date_gmt":"2025-08-07T10:34:59","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/restaurant-brands-international-inc-reports-second-quarter-2025-results\/"},"modified":"2025-08-07T06:34:59","modified_gmt":"2025-08-07T10:34:59","slug":"restaurant-brands-international-inc-reports-second-quarter-2025-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/restaurant-brands-international-inc-reports-second-quarter-2025-results\/","title":{"rendered":"Restaurant Brands International Inc. Reports Second Quarter 2025 Results"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n Consolidated system-wide sales grow 5.3% year-over-year, including 9.8% in International<\/i>\n <\/p>\n

\n Comparable sales accelerated to 2.4%, including 4.1% at Burger King International and 3.6% at Tim Hortons Canada <\/i>\n <\/p>\n

\n RBI remains on track for 8%+ organic Adjusted Operating Income growth in 2025 <\/i>\n <\/p>\n

\n
\n MIAMI<\/span>
\n <\/span>, Aug. 7, 2025<\/span><\/span> \/PRNewswire\/ – Restaurant Brands International Inc. (“RBI”) (NYSE: QSR) (TSX: QSR) (TSX: QSP) today reported financial results for the second quarter ended June 30, 2025<\/span>. Josh Kobza<\/span>, Chief Executive Officer of RBI commented, “We made great progress in the second quarter advancing our strategic priorities, with improved sales trends and strong execution led by our two largest businesses, Tim Hortons and International. Across the system, we’re seeing strong franchisee alignment, impactful marketing, and focused operational initiatives drive meaningful improvements in the guest experience. With positive momentum heading into the back half of the year, we remain confident in our ability to deliver 8%+ organic Adjusted Operating Income growth in 2025.”<\/p>\n

\n

\n
\n \"RBI
\n <\/a>\n <\/p>\n<\/p><\/div>\n

\n Consolidated Operational and Financial Highlights
<\/b>(in US$ millions, except per share and ratio data, unaudited)<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n

\n
\n
\n Three Months Ended June 30,<\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n
\n Six Months Ended June 30,<\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n
\n Operational Highlights<\/span>
\n <\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n System-Wide Sales Growth<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5.3\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 5.0\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 4.1\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 6.5\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n System-Wide Sales <\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 11,853<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 11,252<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 22,349<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 21,764<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Comparable Sales<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2.4\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1.9\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 1.3\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 3.2\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net Restaurant Growth<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2.9\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 4.0\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 2.9\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 4.0\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n System Restaurant Count at Period End<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 32,229<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 31,324<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 32,229<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 31,324<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n
\n GAAP Financials<\/span>
\n <\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Total Revenues<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,410<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,080<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,519<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 3,819<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Income from Operations<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 483<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 663<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 918<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,207<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n Income from Operations Growth<\/span>
\n <\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n (27.2)\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 19.6\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n (24.0)\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 20.5\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net Income from Continuing Operations<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 264<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 399<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 487<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 727<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Diluted Earnings per Share from Continuing Operations<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.58<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.88<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.07<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.60<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n
\n Financial Highlights <\/span>
\n <\/i>
\n <\/b>
\n
\n (a)<\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Adjusted Operating Income (AOI)<\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 668<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 632<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,208<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,172<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n Organic AOI Growth <\/span>
\n <\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 5.7\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 9.3\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 4.3\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 8.5\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted EBITDA <\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 762<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 721<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,404<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,348<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted Diluted Earnings per Share (Adj. EPS) <\/span>\n <\/p>\n<\/td>\n

\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.94<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.86<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.70<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.60<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n Nominal Adj. EPS Growth<\/span>
\n <\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 9.2\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 2.2\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 6.5\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n (0.6)\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n Organic Adj. EPS Growth<\/span>
\n <\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 10.3\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 3.1\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 10.0\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 1.3\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net Leverage<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4.6x<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 5.0x<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 4.6x<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 5.0x<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n\n\n
\n

\n (a)<\/span>\n <\/p>\n<\/td>\n

\n

\n Adjusted Operating Income, Organic AOI Growth, Adjusted EBITDA, Adjusted Diluted Earnings per Share, Nominal Adj. EPS Growth, Organic Adj. EPS Growth, and Net Leverage are non-GAAP financial measures. Please refer to “Non-GAAP Financial Measures” for further detail.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n Items Affecting Comparability and Restaurant Holdings Segment Reminder
<\/b>
\n
\n Restaurant Holdings Segment
<\/u>
\n <\/i>RBI reports results under six operating and reportable segments consisting of four franchisor segments for the Tim Hortons, Burger King, Popeyes and Firehouse Subs brands in the U.S. and Canada<\/span> (“TH,” “BK,” “PLK,” and “FHS”), and a fifth franchisor segment for all of our brands in the rest of the world (“INTL”). Additionally, we completed the acquisitions of Carrols Restaurant Group Inc. (“Carrols”) (“the Carrols Acquisition”) and Popeyes China (“PLK China”) (“the PLK China Acquisition”) on May 16, 2024<\/span> and June 28, 2024<\/span>, respectively. Following these acquisitions, we established a new operating and reportable segment, Restaurant Holdings (“RH”), which includes results from the Carrols Burger King restaurants and the PLK China restaurants from their acquisition dates and includes results from Firehouse Subs Brazil (“FHS Brazil”) beginning in 2025.<\/p>\n

RBI plans to maintain the franchisor dynamics in its TH, BK, PLK, FHS and INTL segments (“Five Franchisor Segments”) to report results consistent with how the business will be managed long-term, given RBI’s plans to refranchise the vast majority of the Carrols Burger King restaurants and to find a new partner for PLK China and new investors for FHS Brazil in the future. RH results include Company Restaurant Sales and Expenses, including expenses associated with royalties, rent, and advertising. These expenses are recognized, as applicable, as revenues in the respective franchisor segments (BK and INTL) and eliminated upon consolidation. For more information, please review the “Restaurant Holdings Intersegment Dynamics” presentation dated August 8, 2024<\/span> posted on our IR website under “Events & Presentations.”\u00a0<\/p>\n

\n
\n Update to Presentation of AOI
<\/u>
\n <\/i>Beginning with our year-end 2024 results, RBI updated its presentation of AOI by defining Segment Franchise and Property Expenses (“Segment F&P Expenses”) which exclude Franchise Agreement Amortization and Reacquired Franchise Rights Amortization. These items were previously included in each segment’s franchise and property expenses and added back as an adjustment to AOI. This presentation change does not impact AOI or Consolidated results.\u00a0\u00a0<\/p>\n

\n
\n Acquisition of Burger King China and Treatment as Held for Sale
<\/u>
\n <\/i>On February 14, 2025<\/span>, we acquired substantially all of the remaining equity interests in Burger King China (“BK China”) from our former joint venture partners. BK China<\/span> has been classified as held for sale and reported as discontinued operations, as we are actively working to identify a new controlling shareholder. This aligns with our long-term strategy of partnering with experienced local operators while maintaining a primarily franchised business.<\/p>\n

Held for sale is defined as those assets and liabilities, or groups of assets and liabilities, for which management has committed to a plan for sale and that are available for immediate disposition in their current condition. These are expected to be sold within one year and are accounted for and reported separately from our continuing operations. As such, for 2025, results for BK China have been reported as discontinued operations in our financial statements and have\u00a0 not been recognized in the INTL segment. That said, BK China KPIs continue to be included in our INTL segment KPIs.<\/p>\n

\n
\n Convention Timing Impact on Franchise and Property Results
<\/u>
\n <\/i>PLK hosted conventions in both Q2 2025 and Q2 2024, while TH held convention in Q2 2024 only and INTL held convention in Q2 2025 only. Convention-related revenues and expenses are recognized in each segment’s Franchise and Property Revenues and Segment F&P Expenses, respectively, and have an immaterial impact on AOI.<\/p>\n

\n Supplemental Disclosures <\/b>\n <\/p>\n

Please review the Trending Schedules posted on the RBI Investor Relations webpage under “Financial Information” for additional disclosures, including:\u00a0<\/p>\n