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.
News on Restaurant Brands International Inc. (QSR) centers on its role as one of the world’s largest quick service restaurant companies and the owner of the Tim Hortons, Burger King, Popeyes and Firehouse Subs brands. Company announcements highlight system-wide sales across more than 32,000 restaurants in over 120 countries and territories, as well as developments that affect its franchise network, capital structure and strategic partnerships.
Investors following QSR news can expect regular updates on quarterly and annual financial results, including system-wide sales growth, comparable sales, net restaurant growth and segment performance for Tim Hortons, Burger King, Popeyes, Firehouse Subs, the International segment and the Restaurant Holdings segment. Earnings releases and related Form 8-K filings provide detail on revenues, adjusted operating income and other non-GAAP measures the company uses to describe its performance.
News flow also covers capital markets activity such as secondary offerings of common shares by large shareholders, forward sale agreements, and debt transactions including first lien senior secured notes. RBI issues press releases and files current reports when it enters into underwriting agreements, receives exchange notices for exchangeable units, or prices new securities.
Strategic and operational news includes items like the joint venture with an investment fund managed by CPE for Burger King China, which outlines new primary capital for that business and a long-term master development agreement for the Chinese market. Leadership updates at brand-level roles and participation in investor conferences are also part of the company’s news profile. For investors and observers, the QSR news stream offers insight into how RBI manages its global quick service restaurant portfolio, its franchise-focused structure and its long-term development plans.
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.
Restaurant Brands International (TSX: QSR, NYSE: QSR, TSX: QSP) will release its second quarter 2024 financial results on August 8, 2024.
An investor conference call will follow at 8:30 a.m. Eastern Time, accessible via webcast on the company's investor relations website.
Dial-in numbers for the call are available for U.S., Canadian, and international callers with the access code 065181.
A replay of the webcast will be available for 30 days post-release.
Restaurant Brands International (TSX: QSR, NYSE: QSR) announced CEO Josh Kobza and Executive Chairman Patrick Doyle will participate in a fireside chat at the Evercore ISI Consumer and Retail Conference on June 13, 2024, at 9:30am ET.
A live audio webcast of the event will be available on RBI's investor relations website for 30 days.
Restaurant Brands International (RBI) has announced the pricing of $1.2 billion in 6.125% Senior Secured Notes due 2029, an increase of $200 million from the initially planned offering. The proceeds will refinance a portion of RBI's Term Loan B Facility, which has been reduced to $4.75 billion and repriced to a lower interest rate of SOFR plus 1.75%, down from SOFR plus 2.25%. The refinancing is expected to be net leverage neutral and yield annual net interest savings. The repackaged term loan maintains its September 2030 maturity date with no other significant term changes.
The Notes were offered to qualified institutional buyers and internationally under Regulation S. The Notes are senior secured and guaranteed by RBI's subsidiary entities. The offering is set to close on or around June 17, 2024, subject to standard closing conditions.
On June 6, 2024, Restaurant Brands International (TSX: QSR, NYSE: QSR) announced the election results of its Board of Directors at the Annual Meeting of Shareholders. The meeting saw 89.5% of eligible votes represented, totaling 402,555,067 votes. All ten incumbent directors nominated by the Board were re-elected to serve until the next annual meeting. Notable vote outcomes included Maximilien de Limburg Stirum with 99.55% votes for and only 0.44% against, and Daniel S. Schwartz with 99.61% votes for and 0.37% against. Full voting results will be filed with Canadian and U.S. securities regulators.
On June 6, 2024, Restaurant Brands International (RBI) announced the launch of a $1,000 million offering of First Lien Senior Secured Notes due 2029. The net proceeds will refinance a portion of the existing term loan B facility and cover related fees and expenses, with any remaining funds used for general corporate purposes. The notes will be fully guaranteed on a senior secured basis by RBI's subsidiaries. The offering is targeted at qualified institutional buyers under Rule 144A and investors outside the U.S. under Regulation S. The notes are not registered under the Securities Act and cannot be sold in the U.S. without registration or an exemption.
Restaurant Brands International (RBI) announced that its Chief Financial Officer, Sami Siddiqui, will participate in a fireside chat at TD Cowen's Annual Future of the Consumer Conference on June 4, 2024, at 3:05 PM ET. A live webcast will be available on the RBI investor relations website for 30 days post-event.
RBI, a major player in the quick service restaurant industry, operates over 30,000 restaurants across more than 120 countries, generating over $40 billion in annual sales. The company owns iconic brands like Tim Hortons, Burger King, Popeyes, and Firehouse Subs. RBI is also committed to sustainable practices through its Restaurant Brands for Good framework, focusing on food, the planet, and communities.
Restaurant Brands International (RBI) has appointed Patrick Siewert as Senior Advisor in the Asia-Pacific region. Siewert brings extensive experience, having led Carlyle Group's consumer investments in Asia for 16 years and previously served as COO and Group President for Coca-Cola in Asia. His role includes advising on new franchise partnerships and talent acquisition as RBI aims to open 7,000 new international restaurants by 2028. RBI currently operates over 4,500 restaurants in Asia, with significant presence in China and plans to introduce Firehouse Subs in the region.
Restaurant Brands International (TSX: QSR, NYSE: QSR) announced that Executive Chairman Patrick Doyle will participate in a fireside chat at the Bernstein Annual Strategic Decisions Conference on May 30, 2024, at 8:00 am Eastern Time. The event will be webcast live and accessible on RBI's investor relations website for 30 days post-event.