RBI Tops Q2 Forecasts as BK US Comps Climb 8.5%; 2026 Outlook Reaffirmed
QSR sits 21% above its 52-week low of $61.33.
Summary
RBI posted Q2 adjusted EPS of $1.07, topping estimates, fueled by an 8.5% comp surge at Burger King US and 5.5% international growth. The company reaffirmed its 2026 outlook and returned $435 million to shareholders.
Key Events · Earnings and Guidance · QSR
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Q2 Earnings Beat
Adjusted EPS of $1.07 exceeded the $1.04 consensus; revenue reached $2.52 billion, up 4.5% year-over-year.
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Burger King US Comp Sales Surge
BK US comparable sales grew 8.5%, the strongest among segments, reflecting the 'Reclaim the Flame' turnaround plan.
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International Strength
International segment comparable sales rose 5.5%, with system-wide sales up 10.7% on a constant currency basis.
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Shareholder Returns
RBI returned $435 million in Q2 via dividends ($0.65/share) and share repurchases (1.8 million shares for $137 million).
Analysis · QSR · Trade & Services
A standout second quarter saw Restaurant Brands International deliver adjusted EPS of $1.07, beating the $1.04 consensus, on revenue of $2.52 billion. The real story was Burger King US, where comparable sales surged 8.5%—a clear sign that the 'Reclaim the Flame' turnaround is gaining momentum. International comps added 5.5%, helping push consolidated system-wide sales 6.4% higher. Shareholders benefited from $435 million returned through dividends and buybacks, while net leverage improved to 4.1x. Management reaffirmed its 2026 target of 8% organic adjusted operating income growth, underscoring confidence in the second half. The only blemish was Popeyes, where US comps slipped 5.2%, but the broader portfolio strength more than compensated.
At the time of this filing, QSR was trading at $74.50 on NYSE in the Trade & Services sector, with a market capitalization of approximately $34B. The 52-week trading range was $61.33 to $81.96. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.