Restaurant Brand Stock Price, News & Analysis

Firehouse Subs has announced plans to expand into Brazil, aiming to open more than 500 restaurants over the next 10 years, with the first location set to launch in 2025. This marks the brand's entry into South America and is part of a joint venture with Restaurant Brands International (RBI) and Iuri Miranda, former CEO of Zamp S.A.

The expansion builds on Firehouse Subs' recent international growth, following successful launches in Switzerland, Mexico, UAE, and Albania. The brand currently operates over 1,300 restaurants across the U.S., Canada, and Puerto Rico. Known for its premium sandwiches and unique steaming method for meats and cheeses, Firehouse Subs will bring signature products like the Hook & Ladder™ and Firehouse Italian™ to Brazilian customers.

The venture aims to tap into Brazil's growing sandwich market, leveraging RBI's global infrastructure and digital expertise alongside local market knowledge. The expansion is expected to create thousands of jobs over the next decade.

Restaurant Brands International reported Q3 2024 results with consolidated system-wide sales growth of 3.2% year-over-year. The company saw comparable sales increase of 0.3%, with Tim Hortons Canada at +2.7% and International at +1.8%. Financial highlights include Income from Operations of $577 million and Adjusted Operating Income of $652 million, up 6.1% organically. Diluted EPS remained steady at $0.79, while Adjusted Diluted EPS rose 4.6% organically to $0.93. The company remains confident in achieving its 8%+ Adjusted Operating Income growth target for 2024.

Restaurant Brands International (RBI) QSR has announced its plans to release third quarter 2024 financial results on Tuesday, November 5, 2024. The company will host an investor conference call at 8:45 a.m. Eastern Time on the same day. Investors can access the earnings call through a webcast on RBI's investor relations website, where a replay will be available for 30 days after the release. Additionally, investors can join the conference call via dial-in numbers provided for U.S., Canadian, and international callers, using the access code 309027.

Restaurant Brands International Inc. (QSR) has announced the pricing of a $500 million offering of 5.625% First Lien Senior Secured Notes due 2029. The proceeds will be used to redeem the outstanding 5.750% First Lien Senior Secured Notes due 2025. This refinancing is expected to be neutral to net leverage and accretive to interest expense. The new notes will be guaranteed by Restaurant Brands International Partnership and its wholly-owned subsidiaries. The offering is expected to close around September 13, 2024, subject to customary conditions. The notes are being offered to qualified institutional buyers and outside the U.S. under Regulation S, and have not been registered under the Securities Act.

Restaurant Brands International Inc. (RBI) has announced the launch of a $500 million First Lien Senior Secured Notes offering due 2029. The company plans to use the proceeds, along with cash on hand, to redeem its outstanding 5.750% First Lien Senior Secured Notes due 2025. The new Notes will be guaranteed by Restaurant Brands International Partnership and its wholly-owned subsidiaries that guarantee the Issuers' existing senior secured credit facilities. The offering is targeted at qualified institutional buyers in the U.S. and international investors, with the Notes not being registered under the Securities Act.

Restaurant Brands International Inc. (QSR) announced the pricing of a secondary offering of up to 6,528,013 common shares by HL1 17 LP, an affiliate of 3G Capital. The offering is related to the exchange of Class B exchangeable partnership units of RBI LP for an equal number of RBI common shares. BofA Securities is acting as the sole book-running manager and has entered into a forward sale agreement with the Selling Shareholder. The offering is expected to close on August 14, 2024, with the settlement of the forward sale agreement and the Exchange occurring on or before August 30, 2024. RBI will not sell any shares or receive proceeds from the offering. The transaction will not change the aggregate number of Exchangeable Units and RBI common shares.

Restaurant Brands International Inc. (QSR) has announced that its subsidiary, RBI LP, received an exchange notice from HL1 17 LP, an affiliate of 3G Capital, to exchange 6,528,013 Class B exchangeable partnership units for an equal number of RBI common shares. Concurrently, HL1 17 LP has commenced an underwritten registered public offering of up to 6,528,013 common shares. The offering involves a forward sale agreement with BofA Securities, acting as the sole book-running manager. RBI will not sell any shares or receive proceeds from this offering. The exchange and settlement of the forward sale agreement are expected to be completed by August 30, 2024.

Restaurant Brands International (RBI) reported its Q2 2024 financial results.

Key highlights include a 5.0% increase in system-wide sales year-over-year and a 1.9% rise in global comparable sales, with notable growth at Tim Hortons Canada (+4.9%) and International (+2.6%).

RBI's net income climbed to $399 million from $351 million the previous year, and their diluted EPS rose to $0.88 from $0.77. Adjusted Operating Income saw a 9.3% organic increase to $632 million, while Adjusted Diluted EPS increased by 3.1% organically to $0.86.

Strategic acquisitions included Carrols Restaurant Group and Popeyes China, leading to the creation of a new operational segment, Restaurant Holdings (RH).

Despite mixed performance across segments, with some declines in Burger King US sales (-0.1%) and International sales growth slowing to +2.6%, consolidated sales and profitability saw robust growth.

Restaurant Brands International (RBI) has announced two significant transactions in China. RBI will acquire Popeyes China for an enterprise value of $15 million, which includes 14 restaurants in Shanghai. This move aims to accelerate growth in the Chinese market, with plans for local team investments and further restaurant development. Additionally, RBI and Cartesian Capital will co-invest up to $50 million in Tims China through convertible notes, increasing RBI's equity ownership to 18%. This funding will be issued in phases, with an initial $40 million at closing. RBI aims to drive growth in the Chinese QSR market, focusing on Popeyes and Tim Hortons brands.