Restaurant Brands International Inc. · NYSE:QSR
Restaurant Brands International — Q2 2026 Earnings Presentation
19 slides from Restaurant Brands International's earnings presentation, Aug 6, 2026
Slide 1: Restaurant Brands International Inc. Reports Second Quarter 2026 Results
EXHIBIT 99 Restaurant Brands International Inc. Reports Second Quarter 2026 Results Consolidated System-wide Sales grow 6.4% year-over-year, including 10.7% in International Comparable Sales accelerated to 3.8%, including 8.5% at BK US and 5.5% at International RBI returns $435 million of capital to
Slide 2: Reporting Segments
Reporting Segments We have six operating and reportable segments, including four franchisor segments for our Tim Hortons, Burger King, Popeyes, and Firehouse Subs brands in the U.S. and Canada (“TH”, “BK”, “PLK”, and “FHS”, respectively) and a fifth franchisor segment for all of our brands in the re
Slide 3: TH Segment Results
TH Segment Results Three Months Ended June 30, Six Months Ended June 30, (in US$ millions, unaudited) 2026 2025 2026 2025 System-wide Sales Growth (a) 0.4 % 3.9 % 1.3 % 2.1 % System-wide Sales (a) $ 2,003 $ 1,995 $ 3,741 $ 3,626 Comparable Sales 0.1 % 3.4 % 0.8 % 1.8 % Comparable Sales - Canada 0.1
Slide 4: BK Segment Results
BK Segment Results Three Months Ended June 30, Six Months Ended June 30, (in US$ millions, unaudited) 2026 2025 2026 2025 System-wide Sales Growth 8.2 % 1.0 % 6.9 % (0.3)% System-wide Sales $ 3,193 $ 2,952 $ 6,046 $ 5,652 Comparable Sales 8.6 % 1.3 % 7.2 % 0.0 % Comparable Sales - US 8.5 % 1.5 % 7.2
Slide 5: PLK Segment Results
PLK Segment Results Three Months Ended June 30, Six Months Ended June 30, (in US$ millions, unaudited) 2026 2025 2026 2025 System-wide Sales Growth (3.1)% 1.6 % (3.5)% (0.4)% System-wide Sales $ 1,529 $ 1,578 $ 2,950 $ 3,053 Comparable Sales (5.1)% (1.4)% (5.8)% (2.7)% Comparable Sales - US (5.2)% (
Slide 6: INTL Segment Results
INTL Segment Results Three Months Ended June 30, Six Months Ended June 30, (in US$ millions, unaudited) 2026 2025 2026 2025 System-wide Sales Growth (a) 10.7 % 9.8 % 10.9 % 9.3 % System-wide Sales (a) $ 5,616 $ 4,992 $ 10,768 $ 9,360 Comparable Sales 5.5 % 4.2 % 5.6 % 3.4 % Comparable Sales - INTL -
Slide 7: RH Segment Results
RH Segment Results Three Months Ended June 30, Six Months Ended June 30, (in US$ millions, unaudited) 2026 2025 2026 2025 System-wide Sales $ 506 $ 469 $ 954 $ 895 System-wide Sales - BK US $ 493 $ 464 $ 932 $ 887 System-wide Sales - INTL $ 13 $ 5 $ 23 $ 8 Comparable Sales 9.0 % 2.9 % 6.8 % 1.0 % Co
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 third quarter of 2026. The dividend will be payable on October 2, 2026 to shareholders and unitholders of record at the close of business on September 1
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 June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenues: Supply chain sales $ 788 $ 732 $ 1,474 $ 1,343 Com
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 June 30, 2026 December 31, 2025 ASSETS Current assets: Cash and cash equivalents $ 1,063 $ 1,163 Accounts and notes receivable, net of allowan
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) Six Months Ended June 30, 2026 2025 Cash flows from operating activities: Net income $ 1,110 $ 484 Net loss from discontinued operations — 3 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: Management to Measure Operating Performance
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 defined as earnings (net income or loss from cont
Slide 15: Non-GAAP Financial Measures | Organic Growth Three Months
RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIES Non-GAAP Financial Measures | Organic Growth Three Months Ended June 30, 2026 (In millions of U.S. dollars, except per share data, Unaudited) Three Months Ended June 30, Variance RH Impact FX Impact Organic Growth 2026 2025 $ % $ $ $ % Revenue TH
Slide 16: Non-GAAP Financial Measures | Organic Growth Six Months
RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIES Non-GAAP Financial Measures | Organic Growth Six Months Ended June 30, 2026 (In millions of U.S. dollars, except per share data, Unaudited) Six Months Ended June 30, Variance RH Impact FX Impact Organic Growth 2026 2025 $ % $ $ $ % Revenue TH $ 2
Slide 17: 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 June 30, 2026 June 30, 2025 Long-term debt, net of current portio
Slide 18: 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 Three Months Ended Twelve
Slide 19: 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
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