RBI: Reports First Quarter 2022 Financial Results

Toronto / CA. (rbi) Restaurant Brands International Inc. (RBI) reported financial results for the first quarter 2022. José E. Cil, Chief Executive Officer, commented, «Our first quarter results reflect the hard work of our great franchisees, team members, and employees with important milestones including a strong resurgence in comparable sales, record first quarter new restaurant openings, and the highest level of digital engagement we have seen from guests across our home markets. This progress allowed us to continue investing behind our key priorities, while also returning over USD 400 million to shareholders between dividends and share repurchases.»

First Quarter Highlights

  • First quarter system-wide sales grew 14 percent year-over-year, up nearly USD 1 billion year-over-year
  • Global comparable sales growth of 8 percent driven by over 10 percent at Tim Hortons Canada and over 20 percent at Burger King International
  • Home market digital sales reach their highest levels ever as a percentage of system-wide sales
  • Record number of first quarter restaurant openings, led by multi-brand international growth and Popeyes in the US
  • Over USD 400 million of capital returned to shareholders in Q1 through dividends and share buybacks

Cil continued, «Tim Hortons Canada and Burger King International had standout sales performances, both with double digit comparable sales growth during the first quarter, while Burger King U.S. continued to lay the foundation to return to long term, sustainable growth. In addition, our strong start to the year in new restaurant openings and the progress we’ve made in ramping our global development capabilities at Tim Hortons and Popeyes gives us confidence that we are on track to accelerate unit growth in 2022.

«With home market digital sales reaching their highest levels ever, we’re pleased with the investments we’ve made to allow our guests to engage with our brands in more convenient and personal ways – whether it’s at the front counter, in the drive-thru, or ahead of time through mobile ordering. We believe we’re well positioned to continue our momentum from the first quarter, with experienced leaders guiding our brands and collaborating with our amazing franchisee networks to grow all four of our brands over the long-term,» concluded Cil.

For additional information please read Restaurant Brands International’s PDF file below (318 KB):

20220505-RBI-Q1-2022
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