Restaurant Brands International (QSR) Q3 FY25 earnings call

Earnings call· Sep 2025 (Q3 FY25)· Consumer Discretionary· Oct 30, 2025

Source: earnings call transcript

Restaurant Brands International delivered a strong Q3 FY25, with robust comparable sales and organic AOI growth, primarily fueled by consistent performance at Tim Hortons Canada and accelerated growth in its international segment. The Burger King U.S. turnaround continues to gain traction, outperforming the QSR burger category, while Popeyes U.S. faces challenges with softer sales. The company remains focused on simplifying its business model through refranchising and strategic divestitures, aiming for sustained long-term free cash flow generation.

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QSR operating KPIs by quarter

QSR operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Dec 2024 Q4 FY24	Mar 2025 Q1 FY25	Change vs prior quarter
Restaurants Popeyes International	<1,500 We've grown the business from roughly 500 international restaurants to nearly 1,500 today and from around $300 million in system-wide sales to nearly $1.3 billion. Source: earnings call transcript	~1,500 We're now at about 1,500 international restaurants. Source: earnings call transcript	—

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.