Share via Email


* Email To: (Separate multiple addresses with a semicolon)
* Your Name:
* Email From: (Your IP Address is 3.238.184.78)
* Email Subject: (personalize your message)


Email Content:

Restaurant Brands International Posts Third Quarter FY2020 Results

10/31/2020

In a company release dated October 27th, Restaurant Brands International Inc. (QSR) reported on the results for the third quarter ending September 30th.  The company posted revenue comprising sales and franchise fees of $1,337 million down 8.2 percent down from the corresponding third quarter of FY2019.  Operating income was $417 million down 26.9 percent and net income was $223 million down 36.5 percent.  EPS was $0.47, 37.3 percent lower than in Q3 of FY2019. 

 

The company posted total assets of $22,533 million of which 71 percent was goodwill and intangibles.  The company carries $12,300 million in long-term debt and lease obligations.

 

In commenting on results, Jose Cil, CEO noted "our results this quarter are once again a testament to the incredibly hard work our team members, restaurant owners and employees have put in to re-open our restaurants and continue serving millions of guests everyday".  He added, "despite our continued near-term focus on confronting the challenges presented by this global health crisis, we continue to make progress in our long-term vision for the business including modernizing our brands by leveraging the technology capabilities we've built in recent years".

 

Restaurant Brands International operates three segments respectively Tim Horton’s, Burger King and Popeye’s Louisiana Chicken. 

 

For Tim Horton’s, system wide sales attained $1,520 million with a 12.5 percent decline in same store sales.  Tim Horton’s comprises 4,934 restaurants that collectively generated an adjusted EBITDA of $258 million.

 

Burger King attained system-wide sales of $5,484 million with a seven percent decline in same store sales through 18,675 locations.  The adjusted EBITDA for the Burger King segment was $245 million.

 

Popeye’s achieved system-wide sales of $1,331 million with a positive comparable sales growth of 17.4 percent through 3,418 restaurants.  Adjusted EBITDA for the segment was $58 million.

 

QSR has traded during the past 52-weeks over a range of $25.08 to $68.40 with a 50-day moving average of $56.74. On a trailing 12-month basis operating and profit margins were 33.6 and 11.0 percent respectively.