Restaurant Brands International Inc.


SKU: QSR Category:


Restaurants Brands International has been facing a difficult and uncertain environment because of ongoing wage and commodity inflation, broader macro uncertainties, and rising interest rates impacting the restaurant industry. The company has been focused on working closely with its franchise to take thoughtful actions to alleviate the pressures that are within its control. During the quarter, Restaurant Brands raised menu prices to help offset rising freight and food costs. This actually helped them deliver an all-around beat as it resulted in a rise in consolidated comparable sales, system-wide sales, and organic adjusted EBITDA growth. The positive results were driven by a robust acceleration in sales growth at Tim Hortons Canada, a steady improvement at Burger King, U.S, sustained momentum over various international markets, development strength at Popeyes, and continued development in digital sales. Among key updates, the management announced that PHD, an agency within the Omnicom Media Group, is going to serve as the company’s media agency of record for various portfolio brands, namely Tim Hortons US, Popeyes Canada & US, and Burger King U.S). We provide a ‘Hold’ rating on the stock of Restaurants Brands International with a revision in the target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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