RBI delivered a clean beat across revenue, EPS, and key operating metrics with accelerating comparable sales and resumed buybacks. The strong BK US turnaround (+5.8% comp vs -1.3% last year) and continued International momentum (11.1% system sales growth) are the key catalysts. Watch for continued margin expansion and progress on the RH segment refranchising/sunset plan.
Price Chart
Executive Summary
RBI reported strong Q1 2026 results with total revenues of $2.264B (+7.4% YoY), GAAP diluted EPS from continuing operations of $0.97 (up from $0.49), and Adjusted EPS of $0.86 (+14.6% YoY). Comparable sales accelerated to 3.2% led by BK US at 5.8% and International at 5.7%, while the company resumed share repurchases and maintained its 2026 guidance for 8%+ organic AOI growth.
Key Financial Metrics
Key Facts
- Total revenues $2.264B vs $2.109B YoY (+7.4%)
- GAAP diluted EPS from continuing operations $0.97 vs $0.49 YoY (+98%)
- Adjusted diluted EPS $0.86 vs $0.75 YoY (+14.6%)
- Organic AOI growth of 10.7%
- Comparable sales +3.2% vs +0.1% YoY, led by BK US +5.8% and International +5.7%
- System-wide sales growth of 6.2% on a constant currency basis
- Resumed share repurchases: $34M in Q1, $966M remaining under $1B authorization
- Dividend declared at $0.65/share for Q2 2026
- 2026 guidance maintained: Segment GA $600-620M, Adjusted Interest Expense $500-520M, Total Capex ~$400M
Financial Impact
Revenue beat consensus by ~1.1% ($2.264B vs $2.24B est); Adjusted EPS beat consensus by ~3.6% ($0.86 vs $0.83 est); GAAP EPS from continuing operations surged 98% YoY to $0.97
Risk Factors
- Popeyes comparable sales declined 6.5% YoY, continuing a multi-quarter slide
- RH segment posted an Adjusted Operating Loss of $1M vs +$7M last year
- Net leverage remains elevated at 4.2x, though improved from 4.7x a year ago
- Currency headwinds and commodity cost inflation could pressure margins
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001618756-26-000025 |
| Document: qsr-20260506.htm | 0001618756-26-000025 |
| Document: 0001618756-26-000025-index-headers.html | 0001618756-26-000025 |
| Document: 0001618756-26-000025-index.html | 0001618756-26-000025 |
| Document: 0001618756-26-000025.txt | 0001618756-26-000025 |
| 8-K Data (Synthetic) | 0001618756-26-000025 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 7w ago | 8-K | $73.33 $77.01 | ▲ +5.02% | ▲ +6.08% | $69.93 (−4.64%) |
Jun 11, 2026 16w ago | Institutional Cluster | $73.90 $74.94 | ▲ +1.41% | ▼ −0.48% | $69.93 (−5.37%) |
May 22, 2026 18w ago | DEFA14A | $75.42 $73.14 | ▼ −3.03% | ▼ −1.08% | $69.93 (−7.28%) |
May 6, 2026 21w ago | 8-K | $77.20 $72.76 | ▼ −5.75% | ▼ −8.53% | $69.93 (−9.42%) |
Apr 23, 2026 23w ago | DEFA14A | $81.23 $76.53 | ▼ −5.79% | ▼ −10.42% | $69.93 (−13.91%) |
Mar 17, 2026 28w ago | Insider Cluster | $74.39 $78.72 | ▲ +5.82% | ▲ +1.52% | $69.93 (−6.00%) |
US Market Status
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