Welcome to our dedicated page for Restaurant Brand news (Ticker: QSR), a resource for investors and traders seeking the latest updates and insights on Restaurant Brand stock.
Restaurant Brands International Inc. reports news around its global quick service restaurant franchising business and the performance of Tim Hortons, Burger King, Popeyes and Firehouse Subs. Company updates commonly cover system-wide sales, comparable sales, net restaurant growth, international development, segment results and operational initiatives across its brand portfolio.
Recurring announcements also address capital allocation, including dividends and share repurchases, investor-day targets, balance-sheet priorities, brand-market transactions such as Burger King China, and shareholder communications involving tender offers or other corporate actions.
On September 16, 2020, Restaurant Brands International (RBI) announced a $1 billion offering of Second Lien Senior Secured Notes due 2030. The proceeds will be used to redeem a portion of the existing 5% Second Lien Senior Secured Notes due 2025, along with accrued interest, premiums, and fees. The Notes will be guaranteed by RBI's subsidiaries and marketed to qualified institutional buyers under U.S. regulations. RBI is one of the largest quick-service restaurant companies globally, with over $32 billion in annual sales and iconic brands like TIM HORTONS®, BURGER KING®, and POPEYES®.
Restaurant Brands International Inc. (QSR) announced it received an exchange notice from 3G Restaurant Brands Holdings LP to exchange 6,757,692 Class B exchangeable units for cash. The cash repurchase is planned to be financed with available funds, reducing fully diluted shares by the same amount. Following the exchange on October 2, 2020, RBH will hold about 31% of RBI's diluted shares. RBH waived its right to revoke the exchange notice by the September 25, 2020 deadline. RBI operates major brands like Tim Hortons, Burger King, and Popeyes, generating approximately $32 billion in annual sales.
Restaurant Brands International (TSX: QSR, NYSE: QSR) announced its participation in the Scotiabank Back to School Conference on September 15, 2020, at 10:55 am Eastern Time. The event will be held virtually, with a live audio webcast available on the company's investor relations website. A recording of the webcast will be accessible for 30 days post-event. RBI is a leading quick-service restaurant company, generating approximately $32 billion in annual sales across over 27,000 restaurants worldwide.
Restaurant Brands International Inc. (QSR) has appointed Sami Siddiqui as the new President of Popeyes Louisiana Kitchen for the Americas, effective immediately. Siddiqui previously served as President for the Asia-Pacific region, where he successfully introduced Popeyes to China and the Philippines. CEO Jose Cil highlighted Siddiqui's strong franchisee collaboration and expansion efforts. Following this transition, Felipe Athayde will leave RBI to pursue opportunities outside the industry. RBI operates over 27,000 restaurants globally and achieved approximately $32 billion in annual sales.
Restaurant Brands International (QSR) has announced the renewal of its normal course issuer bid (NCIB), allowing the repurchase of up to US$300 million worth of common shares over the next year. This NCIB follows a previous authorization from August 2016 and permits the purchase of 30,000,015 shares, equating to 10% of the public float as of July 25, 2020. The purchases will occur through the TSX, NYSE, or other trading systems. Despite not buying shares in the last 12 months, RBI believes that the current market price represents a good investment opportunity.
Restaurant Brands International Inc. (QSR) reported a substantial recovery in comparable sales, improving by 30 points from March to June 2020, with 93% of its restaurants open globally. Despite facing challenges due to COVID-19, the company achieved $6.482 billion in system-wide sales, although down from $8.445 billion in 2019. Notably, digital sales surged over 120% year-over-year. Adjusted net income dropped to $154 million from $331 million. The company maintains a strong liquidity position with $2.5 billion available and a commitment to long-term initiatives for brand development.
Restaurant Brands International Inc. (QSR) will announce its second quarter 2020 financial results on August 6, 2020. An investor conference call is scheduled for 8:30 a.m. Eastern Time that same morning, which will be available via webcast on their investor relations website. The call can also be accessed using specific dial-in numbers for U.S., Canadian, and international callers. As one of the largest quick service restaurant companies, RBI has approximately $32 billion in annual sales and operates over 27,000 restaurants globally.
On June 29, 2020, Restaurant Brands International shared insights after 100 days of navigating the COVID-19 crisis. The company highlighted a notable recovery in sales, particularly in Burger King and Popeyes, due to enhanced digital innovation and improved delivery services. Tim Hortons showed a gradual return to form, with 90% of locations operational in Canada. Notably, RBI is repaying its revolving credit facility, signaling financial stability. The company also emphasized its commitment to diversity and sustainability through initiatives aimed at fostering an inclusive environment and reducing its environmental footprint.