Restaurant Brands International Inc.: Mixed — EPS $1.10, Revenue $2.53B
Mixed ResultQ3 2026 · Pre-market
Did Restaurant Brands International Inc. (QSR) beat earnings today?
It was a mixed report for Q3 2026 — Restaurant Brands International Inc. (QSR) beat on EPS but missed on revenue.
Earnings Per Share+1.85% surprise
$1.10Actual
Expected: $1.08
vs. year ago +6.8%
Total Revenue-0.98% surprise
$2.53BActual
Expected: $2.55B
vs. year ago +3.1%
Released Oct 29 · 6:30 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $2.52B | $2.45B | +3.1% |
| Revenue detail — reported lines | |||
| └─Supply chain sales | $780.00M | $769.00M | +1.4% |
| └─Company restaurant sales | $608.00M | $588.00M | +3.4% |
| └─Franchise and property revenues | $814.00M | $778.00M | +4.6% |
| └─Advertising revenues and other services | $323.00M | $314.00M | +2.9% |
| └─TH | $1.14B | $1.13B | +1.0% |
| └─BK | $396.00M | $387.00M | +2.3% |
| └─PLK | $204.00M | $201.00M | +1.5% |
| └─FHS | $65.00M | $60.00M | +8.3% |
| └─INTL | $289.00M | $268.00M | +7.8% |
| └─RH | $487.00M | $459.00M | +6.1% |
| Net Income | $704.00M | $436.00M | +61.5% |
| GAAP Basic EPS | $1.55 | $0.96 | +61.5% |
| GAAP Diluted EPS | $1.54 | $0.96 | +60.4% |
| Adj. EPS | $1.10 | $1.03 | +6.9% |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY2026 Outlook |
|---|---|---|
| Segment G&A | — | $600M-$620M |
| RH AOI | — | ~$10M-$20M |
| Adjusted Interest Expense, net | — | $500M-$520M |
| Total Capex and Cash Inducements | — | ~$400M |
Business Highlights
- ➤Established the BK China JV with CPE; CPE invested $350M of primary capital.
- ➤Began accounting for the remaining 17% BK China interest under the equity method.
- ➤Continued plans to refranchise most Carrols Burger King restaurants.
- ➤Continued efforts to find investors for PLK China and FHS Brazil.
- ➤Funded $198M of up to $550M planned Royal Reset investments.
- ➤Royal Reset supports remodels, relocations, restaurant technology, kitchen equipment, and building enhancements.
- ➤Declared a $0.65 fourth-quarter dividend per common share and partnership exchangeable unit.
- ➤Repurchased 817,041 common shares and 2,784,549 Class B exchangeable units during the quarter.
- ➤Had $768M remaining under the share repurchase authorization at September 30.
- ➤Repurchased another 235,276 common shares through October 23.
- ➤Hosted PLK and FHS conventions in the third quarter.
- ➤TH and BK are scheduled to host conventions in the fourth quarter.
Management Commentary
Josh Kobza, Chief Executive Officer of RBI
“At our Investor Day earlier this year, we highlighted what makes RBI a strong business – four iconic global brands, the ability to invest for long-term growth, and talented teams and franchisees around the world. Those strengths are on display again this quarter, with over 3% global comparable sales led by outperformance at Burger King and steady growth at International and Tim Hortons. I'm proud of what we're accomplishing together. Across our brands, we're continuing to listen to our guests and act on their feedback to deliver the quality, service, and convenience they expect every day.”