RBI Q1 2021 Earnings Report
Key Takeaways
Restaurant Brands International Inc. reported positive Q1 2021 results, signaling a return to growth with system-wide sales surpassing Q1 2019. Net restaurant growth nearly matched the best-ever Q1 performance, driven by digital initiatives and recovery from the pandemic.
System-wide sales surpassed Q1 2019 levels, indicating a return to growth.
Net restaurant growth nearly matched the best-ever Q1 performance in 2018.
Tim Hortons' digital sales in Canada reached 31% in Q1, driven by two million app downloads in March.
Burger King U.S. launched a $1 Your Way value menu, showing encouraging results.
RBI
RBI
RBI Revenue by Segment
Forward Guidance
The company expects to see a continued impact from COVID-19 on its results in 2021 but is optimistic about the global growth potential and is working towards a return to historic levels of unit growth this year.
Positive Outlook
- Excited by the global growth potential of our brands.
- Encouraged by this early momentum as we work toward a return to historic levels of unit growth this year.
- Home market recovery from the pandemic is well-underway.
- C$80M investment announced during the quarter to supercharge our advertising and digital platforms.
- Digital channels will allow us to drive incrementality for our restaurants as well as a more personalized and valuable experience for our guests.
Challenges Ahead
- COVID-19 had a substantial impact on our global restaurant operations for the three months ended March 31, 2021.
- Certain jurisdictions, such as Canada, Europe, and Brazil, that had eased restrictions during 2020, re-imposed lockdowns and curfews in the quarter ended March 31, 2021.
- Expect local conditions to continue to dictate limitations on operations, capacity, and hours of restaurants.
- Do not know the future impact COVID-19 will have on our business, or when our business will fully return to normal operations.
- Expect to see a continued impact from COVID-19 on our results in 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income