Restaurant Brands International reports 26.2% revenue growth in Q4 2024, reaching US$2.29B

GLOBAL – Restaurant Brands International (RBI) has reported a 26.2% year-over-year revenue increase for Q4 2024, reaching US$2.29 billion, up from US$1.82 billion in the same period in the previous year.

Restaurant Brands International (RBI) reported an increase in revenue for 2024, reaching US$8.4 billion compared to US$7.02 billion in 2023.

However, net income for Q4 declined to US$361 million from US$726 million in the previous year.

Operating costs also saw a rise, with quarterly expenses—including advertising, franchise, and property costs—climbing to US$1.6 billion from US$1.3 billion. Annual operational costs followed a similar trend, increasing from US$4.9 billion to US$5.9 billion.

Diluted earnings per common share dropped to US$0.79 in Q4 2024 from US$1.60 in the same period the previous year.

Despite these financial challenges, RBI achieved a 5.6% increase in global system-wide sales for the quarter and a 5.4% rise for the full year.

Global comparable sales improved by 2.5% in Q4, driven by a 4.7% increase at its international locations and a 2.5% rise at Tim Hortons Canada.

The company also recorded a 17.9% year-on-year increase in income from operations, with organic adjusted operating income growing by 9%.

During the year, RBI returned approximately US$1 billion in capital to shareholders while continuing its investment in expansion and achieving its net leverage target.

Same-store sales at its international restaurants outperformed expectations, rising by 4.7% compared to StreetAccount’s estimate of 2.7%, with Burger King and Popeyes contributing significantly to the growth.

The company expanded its global presence by 3.4%, adding 1,055 new locations over the year.

Looking ahead to 2025, RBI has set a dividend target of US$2.48 per common share and partnership exchangeable unit.

CEO Josh Kobza expressed confidence in the company’s progress, highlighting the strong foundations built across its brands and the dedication of teams and franchisees in maintaining quality, service, and convenience.

He emphasized the company’s focus on strategic marketing, operational enhancements, and modernizing its image to improve guest experiences, franchisee profitability, and long-term growth.

With US$45 billion in annual system-wide sales and over 30,000 locations across more than 120 countries, RBI oversees four quick-service brands: Tim Hortons, Burger King, Popeyes, and Firehouse Subs.

In 2025, the company expects Tim Hortons to return to net unit growth, supported by expansion in underserved rural areas and western Canada.

Planned capital expenditures for the year are projected between US$400 million and US$450 million, covering consolidated investments, tenant inducements, and other incentives.

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