Tim Hortons parent Restaurant Brands reports 18% profit boost on strong demand [Globe and Mail, The (Toronto, Canada)]
Restaurant Brands International Inc. Common Shares (QSR)
Last restaurant brands international inc. common shares earnings: 5/1 06:30 am
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Source: Globe and Mail, The
The Toronto-based company, which owns Tim Hortons, Burger King, Popeyes Louisiana Kitchen and Firehouse Subs, reported net income of US$328-million or 72 cents per share in the quarter ended March 31, compared to US$277-million or 61 cents per share in the same period the prior year. On Tuesday, the company also announced plans to spend an additional US$300-million on remodeling its Burger King restaurants in the U.S. from 2025 to 2028. Its goal is to have refreshed 85 to 90 per cent of Burger King locations by the end of that period. The new spending is in addition to previous investments as part of a turnaround plan for the chain. First announced in 2022, the US$400-million “Reclaim the Flame” plan included renovating many restaurant locations, a boost in marketing spending, and upgrades to technology and equipment. Earlier this year, Restaurant Brands announced a US$1-billion deal to buy its largest Burger King franchisee in the U.S., in a bid to accelerate the pace of remodel
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QSR
Earnings
- 4/30/24 - Beat
QSR
Sec Filings
- 5/17/24 - Form PX14A6G
- 5/16/24 - Form 8-K
- 5/16/24 - Form 8-K
- QSR's page on the SEC website