Burger King Parent QSR Cooks Up Sales Beat, But Earnings Miss Burns Stock

Restaurant Brands International Inc. QSR shares are trading lower on Thursday.

The company reported second-quarter adjusted earnings per share of 94 cents, missing the analyst consensus estimate of 96 cents. Quarterly sales of $2.41 billion, beating the Street view of $2.31 billion.

Consolidated system-wide sales grew 5.3% year-over-year, including a 9.8% increase in International markets.

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Comparable sales accelerated to 2.4%, with Burger King International up 4.1% and Tim Hortons Canada up 3.6%.

Adjusted Operating Income in the quarter under review totaled $668 million, higher than $632 million in the year-ago period.

Quarterly adjusted EBITDA increased to $762 million, compared with $721 million in the prior-year period.

“With positive momentum heading into the back half of the year, we remain confident in our ability to deliver 8%+ organic Adjusted Operating Income growth in 2025,” said CEO Josh Kobza.

Net Restaurant Growth in the quarter under review was 2.9%, lower than the 4% growth in the year-ago period.

Dividend: The firm declared a dividend of 62 cents per share. The dividend will be payable on October 7 to shareholders of record at the close of business on Sept. 23.

The board approved a share repurchase authorization allowing the company to buy back up to $1 billion of its common shares from Sept. 15, 2025, through Sept. 30, 2027.

This repurchase authorization becomes effective on Sept. 15.

Outlook: The firm expects consolidated capital expenditures and tenant inducements—including remodels and new‐store incentives—to total between $400 million and $450 million in 2025.

It also anticipates Adjusted Interest Expense, net of around $520 million.

From 2024 to 2028, the company targets a comparable sales growth of over 3% and an organic adjusted operating income growth of more than 8%.

Price Action: QSR shares are trading lower by 4.39% to $65.59 at last check Thursday.

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