Overview
- Restaurant Brands, which reported results Wednesday, posted adjusted earnings of 86 cents a share on $2.26 billion in revenue, beating estimates.
- Companywide same-store sales rose 3.2%, led by about 5.8% growth at Burger King U.S. after store upgrades and an improved Whopper recipe and packaging.
- Popeyes posted a 6.5% same-store sales decline, making it the laggard in the portfolio as leaders focus on execution and clearer everyday value.
- Management reaffirmed its 2024–2028 growth targets and said partner CPE will inject $350 million to expand Burger King China, backing plans to lift net unit growth toward roughly 5% by 2028.
- The board resumed shareholder returns with $60 million of buybacks by late April and a $0.65 dividend payable July 7, while shares fell about 5% intraday after the release.