Restaurant Brands International Reports Q3 2026 Financial Results

Executive Summary

On October 29, 2026, Restaurant Brands International Inc. (NYSE: QSR, TSX: QSR) filed a Form 8-K under Item 2.02 (Results of Operations and Financial Condition) announcing its financial and operating results for the third quarter ended September 30, 2026.

Key Financial Highlights

• Total Revenues: $2,525 million, up 3.1% compared to $2,449 million in Q3 2025.
• Operating Income: $696 million, an increase of 5.0% from $663 million in Q3 2025.
• Net Income from Continuing Operations: $704 million, up 60.0% compared to $440 million in Q3 2025.
• Diluted EPS (Continuing Operations): $1.54, compared to $0.96 in Q3 2025.
• Adjusted Diluted EPS: $1.10, representing nominal growth of 6.9% (8.6% organic) from $1.03 in Q3 2025.
• Adjusted Operating Income (AOI): $737 million, up 6.7% organically year-over-year.
• Adjusted EBITDA: $829 million, compared to $794 million in Q3 2025.

Operational Metrics

• Consolidated System-wide Sales Growth: 6.2% year-over-year (constant currency basis), reaching $12,972 million.
• Global Comparable Sales: 3.8% growth, driven by strength at Burger King US (+8.4%) and steady expansion across International (+3.9%) and Tim Hortons.
• Net Restaurant Growth: 3.0% YoY, bringing total system restaurant count to 33,401 locations.
• Capital Return & Leverage: Returned $1.3 billion to shareholders year-to-date through dividends and share repurchases; net leverage ratio improved to 4.0x (from 4.4x in prior year periods).