Restaurant Brands International Inc. · NYSE:QSR
Restaurant Brands International — Q1 2026 Earnings Presentation
18 slides from Restaurant Brands International's earnings presentation, May 6, 2026
Slide 1: Restaurant Brands International Inc. Reports First Quarter 2026 Results
EXHIBIT 99 Restaurant Brands International Inc. Reports First Quarter 2026 Results Consolidated system-wide sales grow 6.2% year-over-year, including 11.1% in International Comparable sales accelerated to 3.2%, including 5.8% at BK US and 5.7% at International Resumed share repurchases in March and
Slide 2: Reporting Segments
Reporting Segments We have six operating and reportable segments, including four franchisor segments for our Tim Hortons, Burger King, Popeyes, and Firehouse Subs brands in the U.S. and Canada (“TH”, “BK”, “PLK”, and “FHS”, respectively) and a fifth franchisor segment for all of our brands in the re
Slide 3: TH Segment Results
TH Segment Results Three Months Ended March 31, (in US$ millions, unaudited) 2026 2025 System-wide Sales Growth (a) 2.4 % 0.0 % System-wide Sales (a) $ 1,738 $ 1,631 Comparable Sales 1.6 % (0.1)% Comparable Sales - Canada 1.5 % 0.1 % Net Restaurant Growth 1.0 % 0.4 % System Restaurant Count at Perio
Slide 4: BK Segment Results
BK Segment Results Three Months Ended March 31, (in US$ millions, unaudited) 2026 2025 System-wide Sales Growth 5.5 % (1.7)% System-wide Sales $ 2,853 $ 2,700 Comparable Sales 5.8 % (1.3)% Comparable Sales - US 5.8 % (1.1)% Net Restaurant Growth (0.9)% (1.1)% System Restaurant Count at Period End 7,
Slide 5: PLK Segment Results
PLK Segment Results Three Months Ended March 31, (in US$ millions, unaudited) 2026 2025 System-wide Sales Growth (3.9)% (2.4)% System-wide Sales $ 1,421 $ 1,475 Comparable Sales (6.5)% (4.0)% Comparable Sales - US (6.5)% (4.0)% Net Restaurant Growth 1.2 % 3.0 % System Restaurant Count at Period End
Slide 6: INTL Segment Results
INTL Segment Results Three Months Ended March 31, (in US$ millions, unaudited) 2026 2025 System-wide Sales Growth (a) 11.1 % 8.6 % System-wide Sales (a) $ 5,152 $ 4,368 Comparable Sales 5.7 % 2.6 % Comparable Sales - INTL - Burger King 5.4 % 2.7 % Net Restaurant Growth 4.5 % 6.2 % System Restaurant
Slide 7: RH Segment Results
RH Segment Results Three Months Ended March 31, (in US$ millions, unaudited) 2026 2025 System-wide Sales $ 448 $ 426 System-wide Sales - BK US $ 438 $ 423 System-wide Sales - INTL $ 10 $ 3 Comparable Sales 4.3 % (1.0)% Comparable Sales - BK US 4.3 % (1.0)% System Restaurant Count at Period End 1,089
Slide 8: Cash and Liquidity
Cash and Liquidity The RBI Board of Directors has declared a dividend of $0.65 per common share and partnership exchangeable unit of RBI LP for the second quarter of 2026. The dividend will be payable on July 7, 2026 to shareholders and unitholders of record at the close of business on June 23, 2026
Slide 9: Forward-Looking Statements
Forward-Looking Statements This press release and our investor conference call contain certain forward-looking statements and information, which reflect management's current beliefs and expectations regarding future events and operating performance and speak only as of the date hereof. These forward
Slide 10: Condensed Consolidated Statements of Operations
RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations (In millions of U.S. dollars, except per share data, Unaudited) Three Months Ended March 31, 2026 2025 Revenues: Supply chain sales $ 686 $ 611 Company restaurant sales 559 558 Franchise and propert
Slide 11: Condensed Consolidated Balance Sheets
RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (In millions of U.S. dollars, except share data, Unaudited) As of March 31, 2026 December 31, 2025 ASSETS Current assets: Cash and cash equivalents $ 1,012 $ 1,163 Accounts and notes receivable, net of allowa
Slide 12: Condensed Consolidated Statements of Cash Flows
RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows (In millions of U.S. dollars, Unaudited) Three Months Ended March 31, 2026 2025 Cash flows from operating activities: Net income $ 445 $ 221 Net loss from discontinued operations — 2 Net income from
Slide 13: Key Operating Metrics and Non-GAAP Financial Measures
RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIES Key Operating Metrics and Non-GAAP Financial Measures Key Operating Metrics Key performance indicators (“KPIs”) are shown for RBI's Five Franchisor Segments. The KPIs for the Carrols Burger King restaurants are included in the BK segment and KPIs
Slide 14: Non-GAAP Financial Measures
trends of our core operations. AOI is used by management to measure operating performance of the business, excluding these non-cash and other specifically identified items. AOI, as defined above, also represents our measure of segment income for each of our operating segments. Adjusted EBITDA is def
Slide 15: Non-GAAP Financial Measures | Organic Growth
RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIES Non-GAAP Financial Measures | Organic Growth (In millions of U.S dollars, except per share data, Unaudited) Three Months Ended March 31, Variance RH Impact FX Impact Organic Growth 2026 2025 $ % $ $ $ % Revenue TH $ 997 $ 903 $ 93 10.3 % $ — $ 36
Slide 16: Reconciliation of Net Leverage, Free Cash Flow, and Capex and Cash Inducements
RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIES Non-GAAP Financial Measures Reconciliation of Net Leverage, Free Cash Flow, and Capex and Cash Inducements (In millions of U.S dollars, except ratio, Unaudited) As of Net Leverage March 31, 2026 March 31, 2025 Long-term debt, net of current porti
Slide 17: Non-GAAP Financial Measures | Reconciliations
RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIES Non-GAAP Financial Measures| Reconciliations (In millions of U.S dollars, except per share data, Unaudited) Net income from continuing operations to Income from Operations to Adjusted Operating Income to Adjusted EBITDA Twelve Months Ended Twelve
Slide 18: Footnotes to Reconciliation Tables
RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIES Non-GAAP Financial Measures Footnotes to Reconciliation Tables (1) Represents share-based compensation expense associated with equity awards for the periods indicated; also includes the portion of annual non-cash incentive compensation expense th
Restaurant Brands International — Q1 2026 Earnings Presentation on 6ix