Strong Financial Performance: In 2024, Restaurant Brands International (RBI) achieved comparable sales growth of 2.3% and net restaurant growth of 3.4%, leading to a 5.4% increase in system-wide sales. Organic adjusted operating income grew by 9%, highlighting disciplined cost management in a challenging consumer environment. Adjusted EPS rose to $3.34, up from $3.24 in the previous year, reflecting a 4.4% organic growth.
Franchisee Profitability Focus: Franchisee profitability remains a core priority, with average four-wall EBITDA for Tim's Canada reaching CAD305,000 and Popeyes U.S. increasing to over $255,000. Burger King U.S. stabilized at $205,000. However, Firehouse Subs saw a decline to approximately $90,000 due to challenging sales dynamics. The strong focus on operational excellence is yielding positive results, reinforcing franchisee optimism.
Expansion and Growth Opportunities: Tim Hortons is returning to positive net unit growth in Canada with a strong economic foundation, while international markets are flourishing, growing comparable sales by 3.3% in 2024. Burger King U.S. is executing the multi-year Reclaim the Flame Plan, while Popeyes is expanding rapidly internationally, adding nearly 1,300 restaurants since 2017.