RBI Q1 2024 Earnings Report
Key Takeaways
Restaurant Brands International Inc. reported a consolidated comparable sales increase of 4.6% and net restaurant growth of 3.9% versus the prior year. Income from Operations was $544 million, and Net Income reached $328 million. Diluted EPS was $0.72.
Consolidated comparable sales increased 4.6% and net restaurants grew 3.9% year-over-year.
System-wide sales increased 8.1% year-over-year.
Income from Operations reached $544 million versus $447 million in the prior year.
Net Income was $328 million compared to $277 million in the previous year.
RBI
RBI
RBI Revenue by Segment
Forward Guidance
RBI continues to expect consolidated capital expenditures, tenant inducements and incentives of approximately $300 million and adjusted interest expense, net, between $555 million and $565 million. RBI now expects Segment G&A for 2024 between $665 million and $685 million, including share-based compensation and non-cash incentive compensation expense between $180 million and $190 million.
Positive Outlook
- Consolidated capital expenditures, tenant inducements and incentives are expected to be approximately $300 million.
- Adjusted interest expense, net, is projected to be between $555 million and $565 million.
- Segment G&A for 2024 is expected to be between $665 million and $685 million.
- Share-based compensation and non-cash incentive compensation expense is anticipated to be between $180 million and $190 million.
- Long-term consolidated performance from 2024 to 2028: 3%+ Comparable Sales; 5%+ Net Restaurant Growth; 8%+ System-wide Sales growth; and Adjusted Operating Income growth at least as fast as system-wide sales growth.
Challenges Ahead
- No specific negative guidance was provided in the text.
Revenue & Expenses
Visualization of income flow from segment revenue to net income