Restaurant Brands International reports US$315M net income in Q3 2025, driven by international growth

GLOBAL – Restaurant Brands International (RBI), parent company of Burger King, Popeyes, and Tim Hortons, has reported net income attributable to common shareholders of US$315 million, or US$0.96 per share, for the third quarter (Q3) of 2025.

This represents an increase from US$252 million, or US$0.79 per share, in the same period of 2024.

Total revenues for Q3 2025 reached US$2.45 billion, up 6.9% from US$2.29 billion a year earlier.

The growth was primarily driven by strong performance in RBI’s international segment, where system-wide sales increased 12.1%.

Same-store sales climbed 4% year-on-year, supported by a 4.2% increase at Tim Hortons Canada and 3.1% at Burger King. However, Popeyes experienced a 2.4% decline in same-store sales.

For the first nine months of 2025, RBI generated total revenues of US$6.97 billion, compared to US$6.11 billion for the same period in 2024.

Net income attributable to common shareholders for the nine months was US$663 million, down from US$762 million in the comparable period last year.

RBI’s board declared a dividend of US$0.62 per common share.

CEO Josh Kobza said, “Our teams delivered a strong quarter, driven by momentum from Tim Hortons and our international business, which together generate approximately 70% of our earnings. Burger King also had a great quarter, outperforming most of the industry through disciplined execution.”

RBI reiterated its 2025 guidance, expecting adjusted interest expense net of US$520 million, and maintained its long-term targets for 2024-2028, aiming for more than 3% comparable sales growth and over 8% organic adjusted operating income growth annually on average.

Burger King continues advancing its multi-year Reclaim the Flame program, planning up to US$700 million in investments by 2028 in advertising, digital technology, remodels, and kitchen equipment.

In Q2 2025, RBI reported revenues of US$2.41 billion, up from US$2.08 billion in Q2 2024.

Restaurant Brands International (RBI) has pursued strategic investments in digital innovation, remodels, and technology upgrades, reinforcing its strong financial performance in 2025.

RBI’s ongoing multi-year Reclaim the Flame program, with up to US$700 million investment by 2028, focuses on advertising, restaurant technology, kitchen equipment, and building enhancements.

This disciplined capital allocation supports consistent growth in system-wide sales and operating income, notably boosting Burger King’s performance internationally.

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