RBI: Reports Third Quarter 2021 Financial Results

Oakville / CA. (rbi) Restaurant Brands International Inc. (RBI) reported financial results for the third quarter ended September 30, 2021. José E. Cil, Chief Executive Officer, commented, «Our results this quarter reflect the value of having a diversified business model across three brands and in over 100 countries. Overall, we saw a continued acceleration in system-wide-sales growth relative to 2019, reflecting improvements in the Tim Hortons Canada business as well as strength across each of our brand’s international businesses. Our strong restaurant growth this year and exciting development pipeline keep us on track to return to pre-pandemic unit growth levels this year and well positioned to accelerate in 2022 as we continue on our path to 40,000 restaurants around the world. This quarter, we also took important steps to focus our attention on the most significant opportunities at Burger King U.S. to drive sustainable growth in the business.»

  • Global system-wide sales grew 11 percent year-over-year and accelerated sequentially to +5 percent compared to 2019
  • Burger King international system-wide sales grew 25 percent year-over-year and +10 percent compared to 2019
  • Year-to-date unit growth and pipeline keep RBI on track to return to pre-pandemic levels in 2021 and accelerate in 2022
  • Returned over USD 425 million of capital to shareholders through dividends and share buybacks
  • Announced commitment to reduce greenhouse gas emissions 50 percent by 2030 and reach net zero emissions by 2050 or sooner

Cil continued, «Our highly efficient business model once again generated strong free cash flow, enabling us to continue investing in our business while also enhancing shareholder returns through both our dividend and recently expanded USD 1 billion share repurchase program. During the quarter, we returned over USD 425 million of capital to shareholders, including repurchasing just over USD 180 million of common stock, reflecting the confidence we have in our outlook and the intrinsic value of our scalable business.»

Cil concluded, «Our big goal is to drive business growth without carbon growth. I’m so proud of the team’s work to set ambitious goals to reduce our carbon footprint in the world. We have exciting and important sustainability projects underway across the company, in green building standards, packaging, recycling, growing our charitable Foundations and doing the hard work with our suppliers and franchisees to improve the environmental footprint we have in the world.»

For additional information please read Restaurant Brands International’s PDF file below (229 KB):

20211025-RBI-Q3-2021
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