Restaurant Brands International Inc. (NYSE:QSR) posted third-quarter results that topped analyst estimates on Thursday, fueled by robust international sales and renewed momentum at Tim Hortons, sending shares up 2.01% in early trading.
The parent company of Burger King, Tim Hortons, Popeyes, and Firehouse Subs reported adjusted earnings of $1.03 per share, exceeding the $1.00 analyst consensus. Revenue climbed 6.5% year over year to $2.45 billion, beating forecasts of $2.39 billion, as system-wide sales rose 6.9%.
International markets were a standout, with system-wide sales surging 12.1% abroad. Across the group, comparable sales grew 4.0%, led by Burger King International at 6.4%, followed by Tim Hortons Canada at 4.2% and Burger King U.S. at 3.2%.
“Our teams delivered a strong quarter, driven by momentum from Tim Hortons and our International business, which together generate roughly 70% of our earnings,” said CEO Josh Kobza. “Burger King also had a great quarter, outperforming most of the industry through consistent and disciplined execution of our plan.”
By segment, Tim Hortons revenue rose 7.8% to $1.13 billion, while Burger King revenue advanced 7.0% to $387 million. Adjusted operating income climbed 8.8% organically to $702 million, reflecting higher sales and improved efficiencies across the portfolio.
Restaurant Brands reaffirmed that it is on track to achieve at least 8% organic adjusted operating income growth for full-year 2025, maintaining its long-term financial targets.
The company also declared a quarterly dividend of $0.62 per share, payable on January 6, 2026, to shareholders of record as of December 23, 2025.