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Dec 31, 2020
RBI Q4 2020 Earnings Report
RBI reported Q4 2020 earnings with a decline in system-wide sales growth and comparable sales for Tim Hortons, Burger King, and Popeyes. Diluted EPS was $0.30, and adjusted diluted EPS was $0.53.
Key Takeaways
Restaurant Brands International reported a decrease in total revenues and net income for Q4 2020, impacted by the COVID-19 pandemic. System-wide sales growth declined, and comparable sales decreased for TH, BK, and PLK. The company focused on digital innovation and restaurant development.
Global digital sales reached $6 billion in 2020, more than doubling in home markets.
Off-premise channels showed continued strength across all brands, with global delivery sales doubling in 2020.
Accelerated transformation of drive-thru experience with 3,600 digital menu boards installed in home markets in 2020.
RBI declared its 9th consecutive dividend increase and ended 2020 with $2.6 billion of available liquidity.
Revenue by Segment
Forward Guidance
RBI expects a continued impact from COVID-19 on its results in 2021. The company is targeting a total of $2.12 in dividends per common share and partnership exchangeable unit of RBI LP for 2021.
Positive Outlook
- Efforts in food and beverage quality will be beneficial.
- Restaurant experience improvements will be beneficial.
- Digital leadership will be beneficial.
- Brand building will be beneficial.
- Restarting the development engine.
Challenges Ahead
- Continued impact from COVID-19 on our results in 2021.
- Temporary closures of and restrictions on restaurants in various regions around the world.
- Capacity may be limited in certain markets.
- Local conditions may lead to closures or increased limitations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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