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Jun 30
RBI Q2 2025 Earnings Report
Restaurant Brands International Inc. reported its financial results for the second quarter ended June 30, 2025, showing improved sales trends and strong execution, particularly in Tim Hortons and International segments.
Key Takeaways
Restaurant Brands International (RBI) delivered a solid second quarter in 2025, with consolidated system-wide sales growing 5.3% year-over-year and comparable sales accelerating to 2.4%. The company saw strong performance from Tim Hortons Canada and Burger King International, and remains on track to achieve its 8%+ organic Adjusted Operating Income growth target for 2025.
Consolidated system-wide sales increased by 5.3% year-over-year, driven by strong international growth.
Comparable sales accelerated to 2.4%, with notable contributions from Burger King International (4.1%) and Tim Hortons Canada (3.6%).
Total revenues for the quarter reached $2.41 billion, up from $2.08 billion in the prior year.
Adjusted Diluted Earnings per Share (Adj. EPS) grew by 9.2% to $0.94, reflecting strong operational performance.
RBI
RBI
RBI Revenue by Segment
Revenue by Segment
Tim Hortons Revenue
CapyFin.comBurger King Revenue
CapyFin.comPopeyes Revenue
CapyFin.comFirehouse Subs Revenue
CapyFin.comInternational Revenue
CapyFin.comRestaurant Holdings Revenue
CapyFin.com Forward Guidance
RBI reaffirms its expectation for 8%+ organic Adjusted Operating Income growth in 2025 and anticipates reaching 5%+ Net Restaurant Growth towards the end of its long-term algorithm period (2024-2028).
Positive Outlook
- Continued expectation for 8%+ organic Adjusted Operating Income growth in 2025.
- Long-term target of 5%+ Net Restaurant Growth by 2028.
- Commitment to prioritizing debt reduction in the near term.
- Approval of a new share repurchase authorization of up to $1 billion.
- Strategic refranchising of Carrols Burger King restaurants and seeking new partners for PLK China and FHS Brazil.
Challenges Ahead
- Adjusted Interest Expense, net is expected to be around $520 million for 2025.
- Potential impacts from macro-economic pressures and currency fluctuations.
- Risks related to the financial stability of franchisees and their liquidity.
- Unforeseen events and geopolitical conflicts could affect operations.
- Challenges in finding new partners for Popeyes China and Firehouse Subs Brazil, and a new controlling shareholder for Burger King China.