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Jun 30, 2023
RBI Q2 2023 Earnings Report
RBI's financial performance for Q2 2023 was reported, showcasing significant system-wide sales growth and improved profitability.
Key Takeaways
Restaurant Brands International (RBI) reported a strong second quarter in 2023, with a 14% increase in system-wide sales and a 9.6% increase in consolidated comparable sales. Net income increased to $351 million, and adjusted diluted EPS rose to $0.85. The company surpassed 30,000 restaurants globally, generating over $40 billion in system-wide sales over the last 12 months.
Consolidated comparable sales increased by 9.6%, and net restaurants grew by 4.1% year-over-year.
System-wide sales increased by 14.0% year-over-year.
Net income reached $351 million, compared to $346 million in the prior year.
Adjusted diluted EPS increased to $0.85, representing a 6.6% organic growth.
RBI
RBI
RBI Revenue by Segment
Revenue by Segment
Tim Hortons Revenue
CapyFin.comBurger King Revenue
CapyFin.comPopeyes Revenue
CapyFin.comFirehouse Subs Revenue
CapyFin.com Forward Guidance
The press release contains forward-looking statements regarding RBI's strategies to capitalize on growth opportunities, the effects of the macroeconomic environment, and digital, marketing, remodel and technology enhancement initiatives. These statements are subject to risks and uncertainties.
Positive Outlook
- Expectations regarding strategies to capitalize on growth opportunities for each of our brands our home markets and internationally.
- Expectations regarding our digital, marketing, remodel and technology enhancement initiatives
- Expectations regarding further expenditures relating to these initiatives, including our “Reclaim the Flame” plan to accelerate sales growth and drive franchisee profitability at Burger King
- Expectations regarding future FHS Transaction costs
- Evolving legislation and regulations in the area of franchise and labor and employment law
Challenges Ahead
- The effects and continued impact of the macroeconomic environment from the war in Ukraine
- The effects and continued impact of the COVID-19 pandemic
- Related macro-economic pressures, such as inflation, rising interest rates and currency fluctuations, on our results of operations, business, liquidity, prospects and restaurant operations and those of our franchisees
- Risks related to unforeseen events such as pandemics
- Risks related to RBI’s ability to compete domestically and internationally in an intensely competitive industry
Revenue & Expenses
Visualization of income flow from segment revenue to net income