US EditionRestaurant Brands Says Consumer Confidence Is Improving with Tims a Bright Spot in Q2
GLOBAL, AUG 7 – System-wide sales grew 5.3% to $11.85 billion despite Popeyes’ 1.4% same-store sales decline, driven by gains at Tim Hortons, Burger King, and international locations.
- On Thursday, Restaurant Brands International Inc. reported second-quarter results for the quarter ended June 30, with revenue of $2.41 billion and net income of $189 million, or 57 cents per share.
- CEO Josh Kobza said net sales climbed 16% to $2.41 billion, driven by improved performance at Tim Hortons and the international segment.
- The U.S. division saw same-store sales increase by 1.5%, while Popeyes declined 1.4%, and international restaurants reported 4.2% growth.
- Management still expects to reach its long-term algorithm, projecting 3% same-store sales growth and 8% organic adjusted operating income growth between 2024 and 2028, with full-year capital expenditures of $400 million to $450 million.
- Looking ahead, management expects to reach over 8% organic adjusted operating income growth in 2025, citing progress at Tim Hortons and in international markets.
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22 Articles
Restaurant Brands International, the parent company of Tim Hortons, announced a decline in profit in the second quarter compared to the previous year.
Restaurant Brands says consumer confidence is improving with Tims a bright spot in Q2
The chief executive of Restaurant Brands International Inc. says he’s seeing a rebound in consumer confidence after a slower start to the year. “While the consumer environment remains dynamic, we’ve seen encouraging signs of improvement across many of our largest businesses,” Josh Kobza told analysts on a conference call discussing the company’s second-quarter results on […]
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