Strong international business performance, Burger King's parent company Restaurant Brands International, Inc. (QSR.US) exceeded expectations in Q4.

Burger King's North American business saw expansion in the fourth quarter, reversing the decline of the previous two quarters. Its parent company, Restaurant Brands International, Inc. (QSR.US), also reported better-than-expected same-store sales. The financial report showed that Restaurant Brands International, Inc. had revenue of 2.3 billion US dollars in the fourth quarter, a 26.4% year-on-year increase, exceeding market expectations. Excluding certain items, earnings per share were 81 cents, slightly higher than the expected 79 cents. The company's adjusted operating income grew 9% in 2024, surpassing the 8% annual target set by the company last February. Burger King is in the third year of its store renovations, increased advertising, and reduced customer complaints initiative. The company stated that same-store sales in the US and Canada grew by 1.1%, exceeding the average analyst expectations from Bloomberg's survey. The growth of Restaurant Brands International, Inc. this quarter was mainly driven by the company's international division and Tim Hortons' North American business, with a focus on Canada. Firehouse Subs saw slight growth in the US and Canada, while Popeyes experienced a slight decline. Restaurant Brands International, Inc. has invested over 2 billion US dollars in revitalizing Burger King. Burger King has lagged behind competitors like Wendy's in recent years and historically has been behind McDonald's Corporation, its main chain. The company has been focusing on upgrading Burger King restaurants, with plans to renovate 85% to 90% of Burger King restaurants by 2028. In the fourth quarter, the brand attracted customers through limited-time offers, outperforming McDonald's Corporation in the US. McDonald's Corporation in the US saw a decrease in sales in part due to an E. coli outbreak, leading to a decline in foot traffic. Burger King's US and Canada business is one of the largest segments in the restaurant brand's sales, second only to the international division.