Industry News | October 24, 2016

Sales Up Nearly 2 Percent at Burger King

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Restaurant Brands International Inc. reported financial results for the third quarter ended September 30.

Daniel Schwartz, chief executive oficer of Restaurant Brands International Inc. ("RBI") comments, "We continued to grow our iconic brands, Tim Hortons and Burger Kings increasing system-wide sales through restaurant development and focus on guest satisfaction. We are encouraged with the progress this quarter and are excited by the long term growth prospects for our brands."

Third Quarter 2016 Highlights:

RBI Total Revenues of $1,075.7 million versus $1,019.7 million in prior year period

RBI Net Income Attributable to Common Shareholders of $86.3 million versus $49.6 million in prior year period

RBI Diluted EPS of $0.36 versus $0.24 in prior year period.

Tim Hortons comparable sales increased 2 percent and Burger King comparable sales increased 1.7 percent in constant currency.

Restaurant count increased 3.4 percent at TH and 3.9 percent at BK year-over-year.

System-wide sales grew 4.8 percent at TH and 7 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.