Restaurant Brands Q2 2026 earnings beat on Burger King U.S. sales

Restaurant Brands Q2 2026 earnings beat on Burger King U.S. sales

Thu, August 6, 2026 at 2:10 PM GMT+3 2 min read

• QSR +1.33%

Restaurant Brands International reported second-quarter results on Thursday that beat analyst expectations, powered by a sharp acceleration in Burger King's U.S. sales.

Adjusted earnings per share came in at $1.07. Analysts had expected $1.03 per share, according to CNBC. Net revenue rose 4.5% to $2.52 billion, meeting analyst expectations.

Burger King U.S. same-store sales grew 8.5% in the quarter, up from 1.5% growth in the same period a year earlier. The chain's overall comparable sales, which include international locations, rose 8.6%. International same-store sales for Burger King climbed 5.4%.

"Burger King's performance is a great example of what's possible when you invest in the fundamentals and execute well – an approach we're applying across all of our brands," Restaurant Brands CEO Josh Kobza said in a statement.

The strong Burger King results reflect the company's ongoing "Reclaim the Flame" turnaround plan, which includes up to $700 million in investments through year-end 2028. The plan covers restaurant remodels, kitchen equipment upgrades, and advertising and digital spending, the company said. As of June 30, Restaurant Brands had funded $194 million of up to $550 million planned for what it calls "Royal Reset" physical improvements.

Burger King's adjusted operating income for the quarter rose to $137 million from $121 million a year earlier, the company said.

Not all of Restaurant Brands' brands performed as well. Tim Hortons posted comparable sales growth of just 0.1% in Canada and overall for the quarter. Popeyes Louisiana Kitchen saw its U.S. same-store sales fall 5.2%, extending a run of negative results as the fried chicken chain contends with heightened competition from rivals leaning heavily on value offerings.

Firehouse Subs was a relative bright spot beyond Burger King, with system-wide sales growing 7.5%, driven by an 8.1% increase in restaurant count rather than comparable sales, which were up only 0.7% in the U.S.

Overall consolidated system-wide sales grew 6.4% year-over-year, including 10.7% growth in the company's international segment. Consolidated comparable sales accelerated to 3.8% from 2.4% in the year-ago quarter.

Net income attributable to common shareholders reached $507 million, or $1.45 per diluted share, compared with $189 million, or 57 cents per share, in the second quarter of 2025. Restaurant Brands returned $435 million to shareholders through dividends and share repurchases during the quarter, the company said. The company said it remains on track to deliver 8% organic adjusted operating income growth for the full year 2026.