Restaurant Brands International LP (OTCPK:RSTRF)

Q4 2025 Restaurant Brands International LP Earnings Call Transcript

Feb 12, 2026 / 01:30 PM GMT

Release Date Price: $68.05

Transcript 10-K8-K

Key Points

Positve

Restaurant Brands International LP (RSTRF) delivered solid top-line growth with a 5.3% increase in system-wide sales and an 8.3% growth in organic adjusted operating income.
Tim Hortons Canada and International achieved 19 consecutive quarters of positive comparable sales, showcasing strong brand health and customer loyalty.
Burger King US outperformed the burger QSR industry in 9 out of the last 12 quarters, demonstrating effective execution of the 'Reclaim the Flame' strategy.
The international segment saw double-digit system-wide sales growth, driven by strong performance in key markets like France, Australia, and China.
Firehouse Subs experienced significant growth with an 8.6% increase in system-wide sales and a 7.7% net restaurant growth, making it one of the fastest-growing QSRs in Canada.

Negative

Popeye's US faced challenges with a 3.2% decline in comparable sales for the year, leading to a decrease in franchise profitability.
Burger King US franchisee profitability was impacted by a 20% increase in beef costs, resulting in a decline from $205,000 in 2024 to $185,000 in 2025.
The company experienced a low point in consolidated net restaurant growth in 2025, although it expects to re-accelerate growth in 2026.
Popeye's US had a large franchisee declare bankruptcy, raising concerns about the stability and growth potential of the franchise system.
The pace of Burger King's remodel activity is slower than anticipated due to the current cost environment, delaying the achievement of a modern image across the asset base.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

QSP_u.TO - Restaurant Brands International LP
Q4 2025 Restaurant Brands International LP Earnings Call
Feb 12, 2026 / 01:30PM GMT

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Presentation
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Unidentified_1 [1]
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The Good morning and welcome to the Restaurant Brands International 4th quarter 2025 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the key followed by 0. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press, then 1 on your telephone keypad. You will hear a tone to confirm that you are in the queue. To exit the question queue, you may press star, then 2. All callers will be limited to one question, and please note this event is being recorded. I would now like to turn the conference over to Kendall Peck, RBI's head of investor relations. Please go

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