Restaurant Brands International Inc. operates as a quick service restaurant company in Canada, the United States, and internationally. It operates through six segments: Tim Hortons, Burger King, Popeyes Louisiana Kitchen, Firehouse Subs, International, and Restaurant Holdings. The company owns and franchises Tim Hortons, a coffee and baked good restaurant chain that offers beverages, sandwiches, wraps, flatbread pizzas, and others; Burger King, a quick service hamburger restaurant chain that offers flame-grilled hamburgers, chicken, and other sandwiches; Popeyes, a quick service chicken concept that offers a Louisiana style menu, including fried bone-in chicken, chicken sandwiches, chicken tenders, wings, fried shrimp, and regional items; and Firehouse Subs, which offers subs with meats and cheese, as well as chili, soups, soft drinks, and other sides. Restaurant Brands International Inc. was founded in 1954 and is headquartered in Miami, Florida.
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Burger King's Strong Sales Offset by Weakness at Restaurant Brands' Other Chains
Jim Cramer highlighted Burger King's strong second-quarter performance, which was offset by weakness at Restaurant Brands International's other chains. Burger King posted 8.6% same-store sales growth in the US and Canada, beating the 6.2% analysts expected, and total adjusted operating income rose 13%. However, Tim Hortons comparable sales were nearly flat at 0.1%, and Popeyes domestic comparable sales fell 5.2% for a fifth consecutive quarter. Restaurant Brands declared a third-quarter dividend of $0.65 per share and returned $435 million to shareholders during the quarter. The stock fell 2% after the report.
Restaurant Brands reported second quarter results with revenue of $2.52 billion, adjusted EPS of $1.07, and same-store sales growth of 3.8% year over year. CEO Josh Kobza highlighted Burger King's outperformance and strength in international markets such as Germany, Spain, and China, while Tim Hortons saw soft early-quarter sales offset by late-quarter menu innovation. Analysts on the earnings call focused on Burger King's growth drivers, Tim Hortons' improvement trajectory, Popeyes' turnaround pace, refranchising momentum, and menu pricing discipline. CFO Sami Siddiqui noted strong buyer interest in Burger King refranchising and expects acceleration in the second half, with remodel rates likely picking up as beef cost pressures ease. The company ended the quarter with 33,156 locations, up from 32,229 a year earlier.
Restaurant Brands International Posts Higher Q2 Profit, Completes $205.86 Million Buyback
Restaurant Brands International reported second-quarter 2026 results with sales rising to US$1,405 million, revenue to US$2,520 million, and net income to US$507 million, all up year-on-year. The company also declared a third-quarter dividend of US$0.65 per share and completed a US$205.86 million share buyback. A sharper rise in earnings per share, continued Burger King operational improvements, and incremental share count reduction through buybacks and unit exchanges collectively highlight management's focus on profitability and capital returns.
McDonald's Delays 50,000-Store Target to 2028, Citing Cost Pressures
McDonald's has pushed its goal of reaching 50,000 global locations to 2028 from the end of 2027, a move management described as a disciplined adjustment rather than a change in long-term expansion strategy. The company cited cumulative inflation in development costs and a more pressured consumer environment as reasons for reviewing its restaurant pipeline, prioritizing returns and location quality over sheer unit count. McDonald's still expects to open roughly 2,600 gross restaurants in 2026, which it calls the fastest period of restaurant growth in its history. U.S. comparable sales rose just 0.8% in the second quarter and turned slightly negative in July, reflecting inconsistent value execution and reduced digital promotions. Competitors Restaurant Brands International and Yum! Brands continue to pursue aggressive unit growth, with Restaurant Brands targeting 5% or more net restaurant growth by 2028 and Yum! Brands operating over 63,000 restaurants globally.
Burger King overtakes Wendy's as second-largest US fast-food burger chain
Burger King has surpassed Wendy's to become the second-largest fast-food hamburger chain in the United States by same-store sales, while also growing faster than market leader McDonald's. Burger King, part of Restaurant Brands International, posted an 8.3% increase in same-store sales in the second quarter, marking its fifth consecutive quarter of growth. In contrast, Wendy's same-store sales fell 7% overall and 8.2% in the US, its sixth straight quarterly decline. McDonald's comparable store sales rose just 1.3% in the same period. Restaurant Brands International reported revenue of $2.5 billion and net income of $665 million, compared with McDonald's $7 billion in revenue and $2.86 billion in net income.
Bill Ackman's Pershing Square Holds Restaurant Brands for 12 Years as Dividend and Burger King Turnaround Shine
Hedge fund manager Bill Ackman has held Restaurant Brands International stock for nearly 12 years, and the company's strong second-quarter earnings and high dividend yield make it a compelling buy in August. Restaurant Brands reported a 5% revenue increase to $2.5 billion and a 14% surge in adjusted earnings to $1.07 per share, driven by an 8.6% comparable sales jump at Burger King. The stock pays a $0.65 per share quarterly dividend, yielding 3.49%, which generated approximately $58.8 million in annual income for Ackman's 22.6 million shares as of the first quarter. Despite mixed results at Popeyes and Tim Hortons, the Burger King turnaround and 9.8% international revenue growth support a forward price-to-earnings ratio of 13 and a median analyst price target of $85, implying 15% upside.
McDonald's US same-store sales growth trails Burger King's 8.5% with 0.8%
McDonald's reported US same-store sales growth of 0.8% in its latest quarter, significantly behind Burger King's 8.5% US comparable sales growth, raising questions about the appeal of its value menus and specialty items. For the quarter to 30 June 2026, McDonald's posted revenue of US$7,099 million, up from US$6,843 million a year earlier, with net income of US$2,362 million and diluted EPS of US$3.32. The company repurchased 3,000,000 shares for US$858 million, bringing total buybacks under its current program to 10,906,194 shares for US$3,267.85 million. Skye Anderson has been appointed President of McDonald's USA, with a focus on operational delivery rather than a strategic reset. Investors will watch upcoming US same-store sales and traffic trends to gauge whether execution under the McDonald's NEXT initiative is improving.
Burger King takes market share from McDonald's with 8.5% US comparable sales gain
Burger King posted an 8.5% comparable sales gain in the U.S. during its second quarter, far outpacing McDonald's 0.8% increase over a roughly overlapping period. The surge follows a February upgrade to the Whopper, its first meaningful update in nearly a decade, which introduced a new sesame-seed bun, upgraded mayo, and clamshell packaging across all 6,600 U.S. locations. In March, McDonald's launched its Big Arch burger nationally, but the product has generated less positive buzz, with Google search trends favoring "Whopper" over "Big Arch." Burger King president Tom Curtis told the Wall Street Journal that many customers say they are returning for the first time in a long time.
Restaurant Brands Falls Despite Burger King’s Best Quarter in Years
Restaurant Brands International shares fell about 1.5% at Thursday’s open even after Burger King posted its strongest U.S. comparable sales in years. Burger King’s U.S. comps jumped 8.5% in the quarter ended June 30, far above the 3.5% analysts expected and the 1.5% it recorded a year earlier, marking two straight quarters of outperformance versus McDonald’s, which managed only 0.8%. The gains were driven by value deals such as “2 for $5” and “3 for $7” and by sustained investment in remodels and marketing. However, Tim Hortons, which generates roughly 41% of Restaurant Brands’ operating income, saw Canadian comparable sales rise just 0.1%, missing the 1.5% estimate and last year’s 3.6%. Company-wide global comps reached 3.8% against a 3.0% forecast, revenue of $2.52 billion slightly missed estimates, and adjusted EPS climbed to $1.07 from 94 cents. Rising beef prices, which account for about a quarter of the food basket, threaten margins on the value-driven Burger King comeback.
Legacy Restaurant Franchises Deploy Nostalgia, New Concepts, and Leadership Changes to Revive Sales
Legacy quick-service restaurant brands including Pizza Hut, Burger King, Wendy's, Hardee's, and Jack in the Box are pursuing a range of turnaround strategies to regain market share and support franchisees. Pizza Hut franchisee Daland Corp. has remodeled 38 of its 93 locations back to the classic red roof design, a move that has generated viral attention and what its president Tim Sparks calls real momentum for the brand. Yum Brands is selling Pizza Hut in two deals—Yum China Holdings will acquire the Mainland China business while private equity firm LongRange Capital will purchase the remaining assets including domestic operations—a change that Sparks believes will bring renewed focus. Burger King has rebounded through an improved Whopper, new sandwiches, and creative advertising such as an Academy Awards spot that acknowledged past missteps, while Taco Bell continues to thrive on menu innovation and strong franchisee relations. Hardee's parent CKE Restaurants is piloting a new breakfast-and-lunch concept called Biscuits & Bird by Hardee's with its largest franchisee, Boddie-Noell Enterprises, as the brand works to reverse years of unit closures. Wendy's brought back former COO Bob Wright as CEO, a move that has lifted franchisee sentiment, and Jack in the Box is executing its 'Jack on Track' plan with a $500 million refinancing and a marketing collaboration with YouTube series 'Hot Ones' amid ongoing leadership turnover.
Seth Klarman's Top Five Stocks Reveal AI Capex Barbell and Contrarian Bets
Seth Klarman's Baupost Group disclosed its five largest long common-stock positions as of March 31, 2026, in a 13F filing. The top holdings include Wesco International, which saw data center sales surge approximately 70% year-over-year to $1.4 billion, and Amazon, where AWS grew 28% and the company beat EPS estimates by 60.69%. Elevance Health, trading at a 13x forward P/E, raised its 2026 adjusted EPS guidance to at least $27.00, while Restaurant Brands International posted Burger King US comparable sales of +5.8% and free cash flow of $169 million. Union Pacific is pursuing a merger with Norfolk Southern to create the first transcontinental railroad, with shares up 30.8% year-to-date. Four of the five positions carry BUY ratings with double-digit or better base case upside, according to the analysis.
McDonald's faces stubborn price-sensitive traffic despite lower gas prices
New research indicates that easing gas prices are not significantly lifting restaurant traffic for McDonald's, as consumers grapple with falling real wages and thinner savings. The report highlights that McDonald's customers remain highly price sensitive despite lower fuel costs, adding pressure to a stock that has declined 13.1% year to date and 9.4% over the past year, last closing at $263.57. Brands that manage menu inflation and respond to demand for healthier options are seen as better positioned under ongoing spending pressure. The findings underscore a key narrative risk for McDonald's: ongoing weakness from low-income consumers could weigh on U.S. same-store sales and make it harder to deliver on long-term traffic and earnings targets. Investors are advised to watch traffic trends by income bracket, the mix between value deals and premium items, and how competitors like Yum! Brands and Restaurant Brands International respond on pricing and promotions.
Restaurant Brands Faces Revenue and Margin Headwinds, Analysts Recommend Alternative Stock
Restaurant Brands International is facing challenges including slim projected revenue growth, a shrinking operating margin, and barely growing earnings per share, leading analysts to suggest better investment opportunities elsewhere. Wall Street expects revenue to rise only 3.4% over the next 12 months, indicating demand headwinds for its menu offerings. The company's operating margin decreased by 1.6 percentage points over the last year to 24.7%, raising questions about expense management despite revenue growth. Earnings per share grew at a compounded annual rate of just 6% over seven years, below its 8.6% annualized revenue growth, signaling declining per-share profitability. The stock trades at 18 times forward earnings, or $72.95 per share, which analysts view as fair but with limited upside compared to potential downside, recommending instead a dominant software business.
Restaurant Brands Shares Rise on Stronger Traffic Data
Restaurant Brands shares rose 3.2% after Citi data showed its Burger King and Popeye's chains outperforming competitors in late June U.S. restaurant traffic. Overall traffic fell 2% year-over-year, but Burger King's decline was only 0.7%, compared to 3.9% at McDonald's and 18.1% at Wendy's. Popeye's traffic growth accelerated from the prior week. The stock traded at $73.88, up 3.4% from the previous close.
StockStory Names Dycom a Top Mid-Cap Pick, Advises Avoiding Restaurant Brands and Packaging Corporation of America
StockStory highlights Dycom as a mid-cap stock with massive growth potential, while recommending investors avoid Restaurant Brands and Packaging Corporation of America. Dycom, a telecommunications infrastructure builder with a $13.95 billion market cap, posted 21% annual revenue growth over the last two years and a 31.5% annual increase in earnings per share, with free cash flow margin expanding by 5.7 percentage points over five years. Restaurant Brands, the $25.64 billion owner of Burger King, Tim Hortons, and Popeyes, faces slowing demand with estimated sales growth of 3.4% and a 1.6 percentage point drop in operating margin. Packaging Corporation of America, a $19.87 billion containerboard producer, has struggled with weak unit sales and a 5.2 percentage point decline in operating margin over five years.
Restaurant Brands International and McDonald's both post year-over-year revenue growth
Restaurant Brands International and McDonald's both reported year-over-year revenue growth in recent quarters. For the quarter ended March 31, 2026, Restaurant Brands International posted revenue of $2.3 billion and a 15% net income margin, while McDonald's recorded revenue of $6.5 billion and a 30% net income margin. Restaurant Brands International's Burger King brand achieved 6% comparable store sales growth in the first quarter of 2026, and its international division saw 11% year-over-year sales growth. McDonald's comparable store sales rose 4% in the same period. Restaurant Brands International shares reached a 52-week high of $81.96 in May, while McDonald's stock fell to a 52-week low of $264.53 in June amid concerns over inflation and labor costs.
Bill Ackman discloses eight of twelve stocks in his $5 billion Pershing Square USA fund
Bill Ackman has voluntarily disclosed eight of the twelve stocks held in his newly launched $5 billion closed-end fund Pershing Square USA, revealing concentrated bets on Amazon, Microsoft, Meta Platforms, Uber Technologies, Brookfield, Restaurant Brands International, Fannie Mae, and Freddie Mac. The fund, which began trading on the New York Stock Exchange on April 29, is the largest of its kind ever launched in the United States and charges a 2% annual management fee with no performance fee. Ackman has described Amazon, Microsoft, and Meta as underappreciated mega-caps, with the Microsoft stake valued at $2.09 billion at the end of the first quarter based on 5.65 million shares. He also trimmed Alphabet in favor of Microsoft, signaling a deliberate reallocation within large-cap tech. The fund's shares have traded roughly 17% below the $50 IPO price, with a persistent discount to net asset value of about 20%, which Ackman called an extremely attractive bargain.
Traditional Fast Food Stocks Post Mixed Q1 as Restaurant Brands Shares Fall 12%
Traditional fast food stocks reported a strong first quarter overall, with aggregate revenues beating analyst consensus estimates by 1.4%, but share prices have declined 3.7% on average since the latest earnings results. Restaurant Brands International posted revenue of $2.26 billion, up 7.3% year on year and exceeding expectations by 0.9%, yet its stock fell 12% to $71.91. El Pollo Loco was the best performer, with revenue of $126.2 million beating estimates by 3.2% and its stock rising 14.2% to $15.44. Papa John's was the weakest, with revenue of $478.6 million missing estimates by 1.4% and declining 7.7% year on year, though its stock edged up 2.9% to $34.78. Krispy Kreme reported revenue of $367 million, down 2.2% year on year but slightly above estimates, while McDonald's revenue rose 9.4% to $6.52 billion, beating estimates by 0.7%.
Dutch Bros Named a Restaurant Stock to Watch While Restaurant Brands and BJ's Are Questioned
StockStory identified Dutch Bros as a restaurant stock worth attention while questioning Restaurant Brands and BJ's Restaurants. Dutch Bros, with a market cap of $8.92 billion, has seen average same-store sales growth of 5.8% over the past two years and expanded its free cash flow margin by 2.8 percentage points over the last year. Restaurant Brands, valued at $25.64 billion, faces slowing demand with estimated sales growth of 3.4% and a 1.6 percentage point decline in operating margin. BJ's Restaurants, at a $1.09 billion market cap, posted only 3.2% annual revenue growth over seven years and a gross margin of 15.1%.