Restaurant Brands International Reports 2Q 2019 Results
Global system-wide sales increased 7.9%
Restaurant Brands International reports global system-wide sales increased 7.9% in Q2 to follow on last year's 7.3% increased. Comparable sales were up 0.5% for the Tim Horton's chain, 3.6% for Burger King and 3.0% for Popeye's.
Consolidade system-wide sales in the Q2 were US$ 8,445 MLN.
Adjusted EBITDA rose 3.2% during the quarter to $580M vs. $575M consensus. Restaurant Brands ended the quarter with 26,036 locations (+5.0% Y/Y) and a net debt leverage of 5.0X.
Jose Cil, Chief Executive Officer of Restaurant Brands International commented: "during the second quarter, we grew global system-wide sales nearly 8% and crossed two restaurant milestones with more than 26,000 restaurants globally, including more than 18,000 Burger King restaurants. We are excited by the tremendous opportunity for restaurant growth in front of us, most recently highlighted by new partnerships we announced for Popeyes in China and Spain, and Tim Hortons in Thailand," continued Cil. "We are working closely with our restaurant owners to deliver an enhanced guest experience including technology like delivery, kiosks and outdoor digital menu boards. We also continue to attract leading talent in the industry to join our company and to contribute to our aspiration to build the most loved restaurant brands in the world".
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