How Strong International Sales and Tim Hortons Momentum May Shape Restaurant Brands International’s (QSR) Earnings Path
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Restaurant Brands International reported third quarter 2025 earnings that exceeded analyst expectations, with revenue rising to US$2.45 billion and net income reaching US$315 million, supported by strong sales growth in international markets and the Tim Hortons brand.
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An interesting insight emerged as management reaffirmed its outlook for over 8% organic adjusted operating income growth through 2028, maintaining a quarterly dividend of US$0.62 per share for early 2026 despite industry cost pressures and challenges in some brands.
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We’ll examine how the continued strength of Tim Hortons and international operations impacts Restaurant Brands International’s investment narrative.
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Shareholders in Restaurant Brands International typically base their thesis on international expansion and the broad earnings base of its core brands, especially Tim Hortons and Burger King. The latest earnings beat reinforces positive momentum, but the most important catalyst remains the success and stability of international operations, while the biggest risk continues to be inflation in key commodity inputs. For now, the recent news does not materially shift these near-term drivers or threats.
Among recent company updates, the reaffirmed quarterly dividend of US$0.62 per share for early 2026 stands out, underscoring ongoing confidence in cash flow generation. This consistency is especially relevant as the company continues to invest in growth while managing short-term cost pressures and competitive dynamics.
Yet, despite the healthy top-line progress, investors should be mindful of the risk that persistent commodity cost inflation still poses to margins and earnings stability…
Read the full narrative on Restaurant Brands International (it’s free!)
Restaurant Brands International’s projections indicate $10.1 billion in revenue and $2.0 billion in earnings by 2028. This outlook assumes a 3.5% annual revenue growth rate and an increase in earnings of $1.1 billion from the current $862 million.
Uncover how Restaurant Brands International’s forecasts yield a $77.69 fair value, a 18% upside to its current price.
Five separate Simply Wall St Community fair value estimates for Restaurant Brands range from US$32.65 to US$82.81. While cost inflation remains a crucial risk to watch, these diverse views reflect how expectations for earnings resilience and international growth can drive sharply different conclusions.
