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Mar 31, 2021
RBI Q1 2021 Earnings Report
RBI returned to growth with system-wide sales up compared to 2019 and added 148 net new restaurants.
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
Revenue by Segment
Tim Hortons Revenue
CapyFin.comBurger King Revenue
CapyFin.comPopeyes Revenue
CapyFin.com 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