RBI reported total revenues of $2.296bn for the fourth quarter of 2024 - a 26.2% increase from $1.82bn in the same period of 2023.
Restaurant Brands International (RBI), the parent company of Burger King, Tim Hortons, Popeyes, and Firehouse Subs, reported a 7.8% increase in system-wide sales for the fourth quarter of 2023, reaching $11.1 billion. This growth was driven by a 6.3% rise in same-store sales and a 1.5% increase in net restaurant growth. Notably, Popeyes led with a 13.3% increase in same-store sales, followed by Firehouse Subs at 6.1%, Burger King at 6.0%, and Tim Hortons at 4.4%. Despite these positive figures, RBI faced challenges such as a $300 million net loss due to non-cash impairment charges related to its Carrols Restaurant Group investment. However, adjusted EBITDA saw a 10.5% increase to $716 million, and adjusted EPS rose by 21.8% to $0.75. The company also highlighted its strategic focus on digital sales, which now account for 33% of sales, and plans for further expansion and menu innovation in 2024.
Automotive & Transportation
Thu, February 13, 2025
