Restaurant Brands International Reports Mixed Third-Quarter Results

Restaurant Brands International reported mixed fiscal third-quarter results on Thursday, with net revenue rising 3.1% to $2.53 billion. The company achieved an adjusted earnings per share of $1.10, slightly exceeding Wall Street expectations of $1.09.

Performance varied across the company's portfolio. Burger King led growth with an 8.4% increase in U.S. same-store sales, signaling progress in a multiyear turnaround focused on food and restaurant improvements. In Canada, Tim Hortons saw a 1.8% increase in same-store sales.

Conversely, Popeyes struggled as U.S. same-store sales fell 2.2%. The company attributed this decline to competitors using discounts to attract customers. Restaurant Brands International is responding to the Popeyes slump by focusing on core menu items and improving restaurant operations.