QSR Q1 2026 Earnings Transcript

Image source: The Motley Fool.

DATE

Wednesday, May 6, 2026 astatine 8:30 a.m. ET

CALL PARTICIPANTS

• Chief Executive Officer — Joshua Kobza

• Chief Financial Officer — Sami Siddiqui

• Executive Chairman — J. Doyle

Need a punctuation from a Motley Fool analyst? Email [email protected]

Full Conference Call Transcript

Joshua Kobza: Good morning, everyone, and convey you for joining us. When we met with you successful Miami astatine our Investor Day successful precocious February, we made wide commitments to the concern assemblage and highlighted a imaginativeness for RBI done 2028. We laid retired a way to 5%-plus nett edifice growth, predictable net maturation and an investment-grade equilibrium expanse portion being the spouse of prime for the champion franchisees and the leader of prime for the champion talent. We besides committed to returning superior to shareholders successful a meaningful and sustained mode done a increasing dividend and the resumption of stock repurchases with the extremity of delivering accordant double-digit full shareholder returns. And we've acted rapidly connected that commitment.

We began repurchasing shares successful March for the archetypal clip successful implicit 2 years, reflecting our condemnation successful the business. Investor Day laid retired the imaginativeness for the institution we are gathering and Q1 is an aboriginal impervious constituent that we're moving successful the close direction. We converted beardown apical enactment results, including comparable income maturation of 3.2% and system-wide income maturation of 6.2% and a 10.7% integrated AOI maturation and mid-teens EPS expansion, portion continuing to put down our brands and instrumentality superior to shareholders. This operation of apical enactment growth, outgo subject and shareholder returns is precisely what we're aiming to present connected a accordant basis.

At Burger King, Tom and his team's enactment nether Reclaim the Flame is starting to amusement up successful the numbers. We saw beardown show connected some an implicit and comparative ground this quarter, delivering astir 6% comparable income maturation successful the U.S. and importantly outperforming the industry. Importantly, that show wasn't driven by 1 collaboration oregon campaign. Over the past 4 years, the squad has strengthened the instauration of the concern from edifice standards to the prime and consistency of the impermanent experience, and that's present enabling our marque elevation efforts to onshore much effectively.

In Q1, we proceed to instrumentality a balanced attack to worth and household offerings and layered connected breathtaking improvements to the Walker, some of which are driving higher engagement and repetition visits. In summation to the momentum of Burger King, some International and Tim Hortons delivered their 20th consecutive quarters of affirmative comparable sales, reflecting the prime of our franchisees, our marque spot and our teams. International continued to basal out, delivering 5.7% comparable income and 11.1% system-wide income growth, reinforcing its relation arsenic 1 of our astir important semipermanent maturation engines.