{"id":3831,"date":"2023-05-02T10:03:45","date_gmt":"2023-05-02T15:03:45","guid":{"rendered":"https:\/\/embarrdowns.com\/restaurant-brands-international-inc-reports-strong-q1-2023-results-with-double-digit-comparable-sales-growth-and-net-restaurant-growth\/"},"modified":"2023-05-02T10:03:45","modified_gmt":"2023-05-02T15:03:45","slug":"restaurant-brands-international-inc-reports-strong-q1-2023-results-with-double-digit-comparable-sales-growth-and-net-restaurant-growth","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/restaurant-brands-international-inc-reports-strong-q1-2023-results-with-double-digit-comparable-sales-growth-and-net-restaurant-growth\/","title":{"rendered":"Restaurant Brands International Inc. Reports Strong Q1 2023 Results with Double-Digit Comparable Sales Growth and Net Restaurant Growth"},"content":{"rendered":"

Restaurant Brands International Inc. is a quick-service restaurant company that operates in Canada, the United States, and internationally.[0]<\/a><\/sup> It operates through four segments: Tim Hortons, Burger King, Popeyes Louisiana Kitchen, and Firehouse Subs.[0]<\/a><\/sup> The company owns and franchises Tim Hortons chain of donut\/coffee\/tea restaurants that offer blend coffee, tea, and espresso-based hot and cold specialty drinks; and fresh baked goods, including donuts, Timbits, bagels, muffins, cookies, and pastries, grilled paninis, classic sandwiches, wraps, soups, and other food products.[0]<\/a><\/sup> It is also involved in owning and franchising Burger King, a fast-food hamburger restaurant chain, which offers flame-grilled hamburgers, chicken, and other specialty sandwiches, French fries, soft drinks, and other food items; and Popeyes Louisiana Kitchen quick service restaurants that provide Louisiana-style fried chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other regional items.[0]<\/a><\/sup> In addition, the company owns and franchises Firehouse Subs quick service restaurants that offer meats and cheese, chopped salads, chili and soups, signature and other sides, soft drinks, and local specialties.[0]<\/a><\/sup><\/p>\n

Restaurant Brands International Inc. is one of the world’s largest quick-service restaurant companies with over $35 billion in annual system-wide sales and approximately 30,000 restaurants in more than 100 countries.[0]<\/a><\/sup> RBI owns four of the world’s most prominent and iconic quick-service restaurant brands \u2013 TIM HORTONS, BURGER KING, POPEYES, and FIREHOUSE SUBS.[0]<\/a><\/sup> For decades, these brands have been serving their guests, franchisees, and communities independently.[0]<\/a><\/sup> <\/p>\n

In the first quarter of 2023, the increase in system-wide sales was driven by net restaurant growth of 10.8% and comparable sales of 5.6%, including US comparable sales of 3.4%. The consolidated comparable sales increased 10.3%, and net restaurants grew 4.2% versus the prior year.[0]<\/a><\/sup> There was a 14.7% increase in sales across the entire system.[0]<\/a><\/sup> Its overall revenue grew by 9.6% year-over-year, to US$1.49-billion, beating analysts\u2019 estimates.[0]<\/a><\/sup> The quarter’s Adjusted EBITDA increased by 11% compared to the previous year, reaching $588 million. Adjusted EBITDA of $588 million increased 15.6% organically versus the prior year.<\/p>\n

In Q1 of 2023, the growth in overall sales was propelled by comparable sales that surged by 10.8%. This surge was primarily driven by US comparable sales of 8.7% and rest of the world comparable sales of 12.3%. Additionally, the growth was also supported by a net restaurant growth of 2.5%. At Tim Hortons, comparable sales grew in the quarter by 13.8%, with same-store sales growth of 15.5% in Canada, its home market.[0]<\/a><\/sup><\/p>\n

0. <\/span>“Restaurant Brands International Inc. Reports First Quarter 2023 Results” Canada NewsWire, 2 May. 2023, https:\/\/www.newswire.ca\/news-releases\/restaurant-brands-international-inc-reports-first-quarter-2023-results-844892521.html<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Restaurant Brands International Inc. is a quick-service restaurant company that operates in Canada, the United States, and internationally.[0]<\/a><\/sup> It operates through four segments: Tim Hortons, Burger King, Popeyes Louisiana Kitchen, and Firehouse Subs.[0]<\/a><\/sup> The company owns and franchises Tim Hortons chain of donut\/coffee\/tea restaurants that offer blend coffee, tea, and espresso-based hot and cold specialty drinks; and fresh baked goods, including donuts, Timbits, bagels, muffins, cookies, and pastries, grilled paninis, classic sandwiches, wraps, soups, and other food products.[0]<\/a><\/sup> It is also involved in owning and franchising Burger King, a fast-food hamburger restaurant chain, which offers flame-grilled hamburgers, chicken, and other specialty sandwiches, French fries, soft drinks, and other food items; and Popeyes Louisiana Kitchen quick service restaurants that provide Louisiana-style fried chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other regional items.[0]<\/a><\/sup> In addition, the company owns and franchises Firehouse Subs quick service restaurants that offer meats and cheese, chopped salads, chili and soups, signature and other sides, soft drinks, and local specialties.[0]<\/a><\/sup><\/p>\n

Restaurant Brands International Inc. is one of the world’s largest quick-service restaurant companies with over $35 billion in annual system-wide sales and approximately 30,000 restaurants in more than 100 countries.[0]<\/a><\/sup> RBI owns four of the world’s most prominent and iconic quick-service restaurant brands \u2013 TIM HORTONS, BURGER KING, POPEYES, and FIREHOUSE SUBS.[0]<\/a><\/sup> For decades, these brands have been serving their guests, franchisees, and communities independently.[0]<\/a><\/sup> <\/p>\n

In the first quarter of 2023, the increase in system-wide sales was driven by net restaurant growth of 10.8% and comparable sales of 5.6%, including US comparable sales of 3.4%. The consolidated comparable sales increased 10.3%, and net restaurants grew 4.2% versus the prior year.[0]<\/a><\/sup> There was a 14.7% increase in sales across the entire system.[0]<\/a><\/sup> Its overall revenue grew by 9.6% year-over-year, to US$1.49-billion, beating analysts\u2019 estimates.[0]<\/a><\/sup> The quarter’s Adjusted EBITDA increased by 11% compared to the previous year, reaching $588 million. Adjusted EBITDA of $588 million increased 15.6% organically versus the prior year.<\/p>\n

In Q1 of 2023, the growth in overall sales was propelled by comparable sales that surged by 10.8%. This surge was primarily driven by US comparable sales of 8.7% and rest of the world comparable sales of 12.3%. Additionally, the growth was also supported by a net restaurant growth of 2.5%. At Tim Hortons, comparable sales grew in the quarter by 13.8%, with same-store sales growth of 15.5% in Canada, its home market.[0]<\/a><\/sup><\/p>\n

0. <\/span>“Restaurant Brands International Inc. Reports First Quarter 2023 Results” Canada NewsWire, 2 May. 2023, https:\/\/www.newswire.ca\/news-releases\/restaurant-brands-international-inc-reports-first-quarter-2023-results-844892521.html<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":3830,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/3831"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=3831"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/3831\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/3830"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=3831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=3831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=3831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}