RBI: Reports Second Quarter 2022 Financial Results

Toronto / CA. (rbi) Restaurant Brands International Inc. (RBI) reported financial results for the second quarter ended June 30, 2022. José E. Cil, Chief Executive Officer, commented, «We made significant progress across our business in the second quarter, accelerating consolidated comparable sales to 9 percent and driving 14 percent growth in global system-wide sales. These results reflect benefits from our dedicated investments in key areas of the business, including people, technology, operations and marketing,» said José Cil, Chief Executive Officer of RBI.

«The team at Tim Hortons Canada delivered exceptional results this quarter, aided by investments against our Back to Basics plan and strong execution from our committed group of restaurant owners. In the second quarter, we drove sales above pre-pandemic levels for the first time since the onset of the pandemic and continue to build strong momentum as we move to accelerate growth. We believe there is a long runway for Tim’s in Canada, anchored by great product quality, menu and digital innovation, and a strong group of restaurant owners,» continued Cil.

«We continue to see steady improvements in our Burger King U.S. business and will be sharing the details of our plan to accelerate home market growth with all of our franchisees in early September. In addition, the Burger King international business had another strong quarter, posting an impressive 18 percent comparable sales and 28 percent system-wide sales growth. Meanwhile, the Popeyes’ team has been successful delivering strong unit growth and at Firehouse Subs, the team is focused on building the capabilities to execute on our vision of rapid growth for this loved brand in the U.S. and around the world.»

«Our second quarter results demonstrate the benefits of our diversified, global business model and strong free cash flow generating capability which allows us to continue investing in important areas of the business while returning capital to shareholders. I am incredibly proud of the hard work of our franchisees, team members and employees who remain focused on executing against our long-term plans to drive sustainable growth,» concluded Cil.

For additional information please read Restaurant Brands International’s PDF file below (194 KB):