Restaurant Brands International had a successful first quarter, with Burger King and Tim Hortons achieving double-digit same-store sales growth in the U.S.
RBI reported a net income of $277M, or 61 cents per share, in the first quarter, up from $270M, or 59 cents per share, YoY.
- RBI reported $1.59B in revenue for the quarter, exceeding expectations, with same-store sales growing 10.3%, primarily due to solid performance at Burger King and Tim Hortons.
- Burger King and Tim Hortons posted higher-than-expected same-store sales increases, with Burger King up 12.3% and Tim Hortons up 13.8%.
- Popeyes' same-store sales rose 5.6%, while Firehouse Subs, part of Restaurant Brands' portfolio, saw a 6.1% increase in same-store sales.
- "With moderated cost inflation and increased investment in the brand, Burger King is optimistic about its prospects," says RBI CEO Josh Kobza.
