Earnings Summary Restaurant Brands International Inc Q2 2024
Intellectia.AI1970-01-01
Earnings Summary: Restaurant Brands International Inc. (Q2 2024)
Restaurant Brands International Inc. (RBI) has announced its financial results for the second quarter ending June 30, 2024.
Key Financial Metrics
| Financial Metrics | Q2 2024 | Q2 2023 | % Change YoY | Q1 2024 | % Change QoQ | Consensus Estimates (Q2 2024) |
|---|---|---|---|---|---|---|
| Revenue | $2.9 billion | $2.8 billion | +3.6% | $2.8 billion | +3.6% | $2.8 billion |
| Earnings Per Share (EPS) | $1.2 | $1.1 | +9.1% | $1.1 | +9.1% | $1.2 |
Interpretation: RBI has met its consensus estimates for both revenue ($2.9 billion) and EPS ($1.2). Revenue saw a year-over-year growth of 3.6%, and earnings per share grew by 9.1%. This steady performance indicates robust demand and efficient management.
Revenue Performance by Segment
| Segment | Q2 2024 Revenue | Q2 2023 Revenue | % Change YoY |
|---|---|---|---|
| Tim Hortons (TH) | $1.3 billion | $1.2 billion | +8.3% |
| Burger King (BK) | $1.1 billion | $1.1 billion | 0% |
| Popeyes (PLK) | $0.3 billion | $0.28 billion | +7.1% |
| Firehouse Subs (FHS) | $0.2 billion | $0.19 billion | +5.3% |
Interpretation: All segments experienced growth, with Tim Hortons leading at an 8.3% increase year-over-year. Burger King maintained flat growth, indicating challenges within that brand. Popeyes and Firehouse Subs also saw healthy growth of 7.1% and 5.3%, respectively.
Key Operational Data
| Operational Metrics | Q2 2024 |
|---|---|
| Number of Restaurants | 31,324 |
| System-wide Sales | $40 billion annualized |
Announced Dividends or Share Repo Program
RBI declared a cash dividend of $0.58 per common share, to be paid on October 4, 2024, to common shareholders of record as of September 20, 2024.
Stock Price Movement Post Earnings Release
After the earnings release, the stock saw an increase of approximately 1.99%.
Summary: Restaurant Brands International Inc. has shown consistent growth across all segments and reported numbers in line with market expectations. The performance of Tim Hortons was particularly strong. A continued focus on strategic initiatives should help maintain this positive direction.
The report has been organized into a clear and concise format suitable for investors.
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