Restaurant Brands International reported third‑quarter 2025 results, posting revenue of $2.45 billion, up 6.9% year‑over‑year, and net income attributable to shareholders of $315 million. GAAP diluted earnings per share were $0.96, beating the consensus estimate of $0.90 by $0.06. Adjusted earnings per share were $1.03, exceeding the consensus estimate of $1.00 by $0.03.
International same‑store sales grew 6.5%, driven by strong performance in Western Europe, China and Japan. Tim Hortons same‑store sales increased 4.2%. Burger King U.S. added 3.1% in same‑store sales, reflecting the impact of the “Reclaim the Flame” remodel program. Popeyes International reported a modest decline in same‑store sales, while Popeyes U.S. saw a 2.4% decline.
System‑wide sales rose 6.9% and comparable sales increased 4.0%, with net restaurant growth of 2.8%. Cold‑drink sales grew 10%, supported by an expanded iced latte offering. The company continued to invest in digital initiatives and remodel projects, which have lifted franchisee profitability and helped maintain margin stability amid rising input costs.
Management reiterated guidance for more than 8% organic adjusted operating income growth in 2025 and reaffirmed its long‑term growth strategy, including continued investment in franchisee support and brand‑specific improvement plans. The company also maintained its 11‑year dividend streak, offering a dividend yield of 3.76%.
Management noted that inflationary pressures and supply‑chain volatility remain headwinds, but the company’s focus on menu innovation, digital engagement and operational efficiencies positions it to navigate competitive challenges and sustain earnings momentum.
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