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Dec 31, 2022
RBI Q4 2022 Earnings Report
RBI reported strong fourth quarter 2022 results with consolidated comparable sales up nearly 8% and net restaurant growth of 4%.
Key Takeaways
Restaurant Brands International Inc. reported strong financial results for the fourth quarter ended December 31, 2022, with nearly 8% consolidated comparable sales growth and 4% net restaurant growth.
Global fourth quarter system-wide sales grew nearly 12%.
Consolidated comparable sales increased by nearly 8%, driven by 11% growth at Tim Hortons Canada and Burger King International.
Digital sales grew over 30% year-over-year, reaching over $13.5 billion in 2022.
Restaurant growth accelerated to 1,266 net new units, with Popeyes achieving its strongest development year since joining RBI.
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 company expects continued growth in 2023, driven by digital and marketing initiatives and strategies for each brand, while also mentioning the suspension of operations in Russia and its impact on results.
Positive Outlook
- Continued growth in 2023
- Driven by digital and marketing initiatives
- Strategies for each of our brands
- Ability to drive long-term, sustainable growth
- 2023 dividend targets
Challenges Ahead
- Effects and continued impact of the macro-economic pressures, such as inflation, rising interest rates and currency fluctuations
- Impact on our results of operations, business, liquidity, prospects and restaurant operations and those of our franchisees, including local conditions and government-imposed limitations and restrictions
- Development and growth of our Firehouse brand
- Suspension of operations in Russia
- Risks related to the conflict between Russia and Ukraine
Revenue & Expenses
Visualization of income flow from segment revenue to net income