10:42:55 EDT Wed 15 May 2024
Enter Symbol
or Name
USA
CA



Restaurant Brands International Inc
Symbol QSR
Shares Issued 311,176,461
Close 2023-05-02 C$ 98.27
Market Cap C$ 30,579,310,822
Recent Sedar Documents

Globe says RBI enjoys strong increase in Q1 revenue

2023-05-03 08:57 ET - In the News

The Globe and Mail reports in its Wednesday edition that Tim Hortons and Burger King parent company Restaurant Brands International posted increasing sales and profits in its latest quarter, as traffic to its restaurants increased and the company raised prices to offset higher costs of commodities, labour and energy. The Globe's Susan Krashinsky writes that RBI, which also owns Popeyes Louisiana Kitchen and Firehouse Subs, reported on Thursday that its net income grew in the first quarter to $277-million or 61 cents a share, compared with $270-million or 59 cents in the same period the prior year (all figures U.S.). Its overall revenue grew by 9.6 per cent year-over-year, to $1.49-billion, beating analysts' estimates. Other fast-food chains, such as McDonald's and Chipotle Mexican Grill, also recently reported quarterly sales growth as they passed on higher costs in the form of menu price increases. RBI attributed part of its revenue growth at Tim Hortons to "commodity prices passed on to franchisees" -- a practice that has been a sticking point in recent months, as a group representing some restaurant owners has raised concerns about profitability. Franchisee profitability at Tim Hortons has fallen since 2018.

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