#Canada #Toronto #financial results #Restaurant Brands #RBI

Restaurant Brands International Inc. Reports Full Year and Fourth Quarter 2024 Results

On February 12, 2025, Restaurant Brands International Inc. (RBI), a leading player in the quick-service restaurant sector, shared its financial outcomes for the fourth quarter and the entire year of 2024. The company reported an impressive 5.6% increase in global system-wide sales for Q4 and a total increase of 5.4% for the full year. Comparable sales surged 2.5% during the fourth quarter, with notable performances from its international operations and its Canadian branch.

Key Financial Highlights

RBI's total revenues for the fourth quarter were $2.296 billion, a substantial rise from $1.820 billion in the previous year, showcasing a significant year-over-year growth in sales. For 2024 as a whole, the revenues reached $8.406 billion, compared to $7.022 billion in 2023. The income from operations saw a remarkable year-over-year growth of 17.9%, climbing to $2.419 billion in 2024 from $2.051 billion

Despite the promising revenue growth, the net income decreased to $361 million in Q4 from $726 million the previous year, primarily due to fluctuations in the market environment and investments in growth initiatives. Diluted earnings per share for the fourth quarter were recorded at $0.79, compared to $1.60 in the same period of 2023.

Operational Performance

RBI's operational highlights include a consistent net restaurant growth of 3.4% throughout 2024, maintaining a restaurant count of 32,125 by year-end. The company’s segments, notably Tim Hortons, Burger King, Popeyes, and Firehouse Subs, showed varying levels of success. Tim Hortons experienced a healthy system-wide sales growth of 4.7% in Q4, while the Burger King segment saw a more modest growth of just 0.5%.

Strategic Investments and Future Outlook

The CEO of RBI, Josh Kobza, expressed pride in the company’s performance and reiterated their commitment to investing in marketing strategies, operational upgrades, and enhancing brand image. He emphasized that these efforts aim to enhance the guest experience while supporting franchisee profitability. RBI also declared a target total dividend of $2.48 per common share for 2025, despite the challenges faced throughout the year.

Key Segment Performances

In the meal-focused business, the Popeyes segment experienced a solid growth in system-wide sales of 4.2% in 2024, while Firehouse Subs outperformed with a notable 2.7% increase in comparable sales.

Conclusion

RBI's comprehensive financial report for the year 2024 demonstrates a strong growth trajectory despite various industry challenges. With a focus on enhancing operational efficiencies and a commitment to shareholder returns, RBI is poised to leverage its established brands for sustained success in the competitive landscape of quick-service restaurants.