Restaurant Brands Q1 2026 earnings beat on Burger King turnaround

Restaurant Brands International reported first-quarter adjusted net of 86 cents per stock and gross of $2.26 cardinal connected Wednesday, topping expert estimates connected the spot of a Burger King U.S. turnaround and wide planetary growth.

Analysts had penciled successful net of 82 cents per stock and $2.24 cardinal successful revenue, according to CNBC.

On a reported basis, the institution earned $338 million, oregon 97 cents per diluted share, a much than doubling of the $159 million, oregon 49 cents per diluted share, it posted successful the year-ago quarter. Total gross climbed 7% to $2.26 billion. Adjusted operating income reached $610 million, up 10.7% connected an integrated basis, the institution said.

The U.S. Burger King concern delivered a 5.8% same-store income gain, astir treble the 3.5% summation analysts had projected, according to CNBC. The chain's system-wide income roseate 5.5% connected a constant-currency basis. Restaurant Brands attributed the gains to its multi-year "Reclaim the Flame" plan, which includes edifice remodels, room instrumentality upgrades, and advertizing investments. As of March 31, 2026, the institution had deployed $189 cardinal of a planned $550 cardinal successful edifice renovations and enhancements nether that program.

Across each brands, comparable income roseate 3.2%, edging past the astir 3% summation the marketplace had anticipated. Comparable income astatine planetary locations climbed 5.7%, surpassing the 5.1% statement estimate, with the Burger King marque accounting for overmuch of that spot astatine 5.4% growth. International system-wide income grew 11.1% connected a constant-currency basis.

Tim Hortons came successful beneath expectations, with comparable income up conscionable 1.6% against an expert forecast of 2.5%, according to CNBC. Both Tim Hortons and the planetary conception recorded their 20th consecutive 4th of affirmative comparable sales, the institution said.

Once again, Popeyes was the weakest performer successful the portfolio, with comparable income cratering 6.5% — acold worse than the 1.5% pullback analysts had anticipated, according to CNBC. System-wide income for the fried chickenhearted concatenation dropped 3.9%.

CEO Josh Kobza pointed to the Burger King results arsenic a reflection of sustained effort. "At Burger King, our results bespeak respective years of hard enactment by our franchisees and teams to elevate the impermanent experience, driving stronger engagement and wide outperformance," Kobza said successful a statement.

Restaurant Brands resumed stock repurchases successful March and said it expects to bargain backmost $500 cardinal of banal successful 2026. The institution reaffirmed its full-year people of 8% oregon much successful integrated adjusted operating income growth.