Industry News | February 13, 2017

Burger King, Tim Hortons Report 'Year of Solid Results'

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Restaurant Brands International Inc. reported financial results for the full year and fourth quarter ended December 31.

Daniel Schwartz, chief executive officer of Restaurant Brands International Inc., says, "We are pleased to report another year of solid results, with strong financial performance in the fourth quarter. Our continued focus on guest satisfaction and value creation for all of our stakeholders has resulted in accelerated restaurant development and continued system-wide sales growth at both of our iconic brands, Tim Hortons and Burger King. We are excited about our progress this year and are committed to building on these results to achieve long-term sustainable growth."

Full Year 2016 Highlights:

  • RBI Total Revenues of $4,145.8 million versus $4,052.2 million in prior year
  • RBI Net Income Attributable to Common Shareholders of $345.6 million versus $103.9 million in prior year
  • RBI Diluted EPS of $1.45 versus $0.50 in prior year
  • Tim Hortons ("TH") comparable sales increased 2.5 percent and Burger King ("BK") comparable sales increased 2.3 percent in constant currency
  • Restaurant count increased 4.5 percent at TH and 4.9 percent at BK year-over-year
  • System-wide sales grew 5.2 percent at TH and 7.8 percent at BK in constant currency

Fourth Quarter 2016 Highlights:

  • RBI Total Revenues of $1,111.4 million versus $1,057.0 million in prior year period
  • RBI Net Income Attributable to Common Shareholders of $118.4 million versus $51.7 million in prior year period
  • RBI Diluted EPS of $0.50 versus 25 cents in prior year period
  • TH comparable sales increased 0.2 percent and BK comparable sales increased 2.8 percent in constant currency
  • System-wide sales grew 2.4 percent at TH and 8.5 percent at BK in constant currency
News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.