Restaurant Brands International reported third-quarter growth across sales, earnings and its restaurant network, led by Burger King in the U.S. and international markets. The parent of Burger King, Tim Hortons, Popeyes and Firehouse Subs said it remains on track to deliver 8% organic growth in adjusted operating income for 2026.
The company also said it has returned $1.3 billion to shareholders so far this year through dividends and share repurchases.
Key details
- Sales growth: System-wide sales rose 6.2% to $12.97 billion in the quarter, compared with $12.28 billion a year earlier. Comparable sales — which measure sales at established restaurants — increased 3.8%, versus 4.0% a year ago.
- Brand performance: Burger King U.S. comparable sales grew 8.4%, while international comparable sales rose 3.9%. The company described growth at Tim Hortons as steady but did not provide a figure in the supplied results.
- International strength: System-wide sales growth in international markets was 9.0%, according to the results headline.
- Restaurant base: RBI ended the quarter with 33,401 restaurants, up from 32,423 a year earlier. Net restaurant growth was 3.0%.
- Revenue and operating income: Third-quarter revenue increased 3.1% to $2.53 billion. Income from operations rose 5.0% to $696 million.
- Earnings: Net income from continuing operations was $704 million, up from $440 million. Diluted earnings per share from continuing operations increased to $1.54 from $0.96.
- Adjusted results: Adjusted operating income rose to $737 million from $702 million, while organic adjusted operating income growth was 6.7%. Adjusted diluted earnings per share increased to $1.10 from $1.03.
- Year-to-date performance: For the first nine months, system-wide sales were $37.19 billion, up from $34.63 billion, and comparable sales grew 3.6%. Organic adjusted operating income growth was 7.8%. Revenue reached $7.31 billion, compared with $6.97 billion, and income from operations was $2.02 billion, versus $1.58 billion.
- Capital returned: The $1.3 billion returned to shareholders year to date came through dividends and share repurchases; the results provided no further breakdown between the two.
What it means
RBI’s restaurant count and system-wide sales both grew, while established restaurants also posted higher comparable sales. Its year-to-date organic adjusted operating income growth was 7.8%, close to the company’s 8% full-year goal; management said it remains on track to meet that target.