18:34:02 EDT Wed 15 May 2024
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or Name
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Restaurant Brands International Inc
Symbol QSR
Shares Issued 312,229,157
Close 2023-08-08 C$ 99.67
Market Cap C$ 31,119,880,078
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Globe says average profits growing at Restaurant Brands

2023-08-09 07:33 ET - In the News

The Globe and Mail reports in its Wednesday edition that after facing criticism from some Tim Hortons restaurant owners, parent company Restaurant Brands International executives say franchisee profitability is improving. The Globe's Susan Krashinsky Robertson writes that earlier this year, the company reported that the average Tim Hortons location made $100,000 less in 2022 in earnings before interest, taxes, depreciation and amortization than in 2018, the last time the company reported such numbers. Those profit declines have led to tensions with some franchisees. Now, franchisees' average profits are growing faster than the parent company's adjusted EBITDA, which was up 10 per cent in the second quarter ended June 30, Restaurant Brands chairman Patrick Doyle said Tuesday. Mr. Doyle was referring to average franchisee profitability across the company's restaurant chains, which also include Burger King, Popeyes and Firehouse Subs. He did not provide more specific numbers on franchisee profitability, which the company has committed to reporting at the end of each fiscal year. Mr. Doyle says, "While we're making very good progress on store-level profitability, I want to be clear that we aren't where we need to be."

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