restaurant brands international press release

Corner Bakery Partners With Pandya Restaurant Growth Brands To Support Next Chapter of Growth. It is also a constituent company of the NZX 50 Index. As per the numbers in the early release… COVID-19 Impact on Restaurant Brands International Summary COVID-19 Impact on Restaurant Brands International May 19, 2020 based on market analysis and brand diversification by industry and geography. Note: System-wide sales growth and comparable sales are calculated on a constant currency basis and include sales at franchise restaurants and company-owned restaurants. RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIESNon-GAAP Financial Measures(Unaudited). Dive Brief: Fat Brands has entered into an agreement to combine with Fog Cutter Capital Group, the company’s controlling stockholder, according to a press release.The restaurant company says the merger is expected to provide it with additional financial flexibility and a simplified corporate structure. LTM Adjusted EBITDA is defined as Adjusted EBITDA for the last twelve month period to the date reported. Cash distributions received from our equity method investments is included in segment income. The year-over-year change in Adjusted EBITDA as reported and on an organic basis was primarily driven by system-wide sales growth. Free Cash Flow is a liquidity measure used by management as one factor in determining the amount of cash that is available for working capital needs or other uses of cash, however, it does not represent residual cash flows available for discretionary expenditures. About Restaurant Brands International Inc. OAKVILLE, ON, May 14, 2015/ PRNewswire/- Restaurant Brands International Inc. and 1011778 B.C. The AP news staff was not involved in its creation. The three Baltic states are among the few remaining countries in Europe where Burger King currently does not have restaurants. is Investigating Restaurant Brands International, Inc. on Behalf of Restaurant Brands Stockholders and Encourages Investors to … About Restaurant Brands International Inc. The earnings call will be broadcast live via our investor relations website at http://investor.rbi.com and a replay will be available for 30 days following the release. In the last two weeks of March we saw daily comparable sales approximately flat on average, however daily comparable sales have returned to pre-COVID-19 levels as of the end of April. In connection with the centralization and relocation of our Canadian and U.S. restaurant support centers to new offices in Toronto, Ontario, and Miami, Florida, respectively, we incurred certain non-operational expenses consisting primarily of duplicate rent expense, moving costs, and relocation-driven compensation expenses. The AP news staff was not involved in its creation. OAKVILLE, ON, April 27, 2015 /CNW/ - Restaurant Brands International Inc. (TSX/NYSE: QSR, TSX: QSP) today reported financial results for the first quarter ended March 31, 2015. By disclosing these non-GAAP measures, we intend to provide investors with a consistent comparison of our operating results and trends for the periods presented. Depreciation and amortization included in selling, general and administrative expenses reflects all other depreciation and amortization. EBITDA is defined as earnings (net income or loss) before interest expense, net, (gain) loss on early extinguishment of debt, income tax (benefit) expense, and depreciation and amortization and is used by management to measure operating performance of the business. ET About Restaurant Brands International. The change in Adjusted EBITDA during the three months ended March 31, 2020 compared to the three months ended March 31, 2019 includes a decrease of $20 million related to the temporary mismatch between advertising fund revenues and expenses which had a negative impact of approximately (4.0)% on the organic Adjusted EBITDA growth rate. Dine Brands International announces an agreement with ... Bar and IHOP brands. Adjusted Net Income and Adjusted Diluted EPS are used by management to evaluate the operating performance of the business, excluding certain non-cash and other specifically identified items that management believes are not relevant to management's assessment of operating performance or the performance of an acquired business. Restaurant Brands International Inc. is one of the world’s largest quick service restaurant companies with approximately $31 billion in annual system-wide sales and over 27,000 restaurants in more than 100 countries and U.S. territories. Restaurant Brands International Inc. is one of the world’s largest quick service restaurant companies with approximately $32 billion in annual system-wide sales and 27,000 restaurants in more than 100 countries and U.S. territories. Note: Percentage changes may not recalculate due to rounding. The factors that could cause actual results to differ materially from RBI's expectations are detailed in filings of RBI with the Securities and Exchange Commission and applicable Canadian securities regulatory authorities, such as its annual and quarterly reports and current reports on Form 8-K, and include the following: risks related to unforeseen events such as pandemics; risks related to supply chain; risks related to ownership and leasing of properties; risks related to our franchisees financial stability and their ability to access and maintain the liquidity necessary to operate their business; risks related to RBI's ability to successfully implement its domestic and international growth strategy and risks related to its international operations; risks related to RBI's ability to compete domestically and internationally in an intensely competitive industry; risks related to technology; and changes in applicable tax laws or interpretations thereof. Restaurant Brands International Inc. is one of the world's largest quick service restaurant companies with approximately $32 billion in annual system-wide sales and 27,000 restaurants … We believe that these non-GAAP measures are useful to investors in assessing our operating performance or liquidity, as it provides them with the same tools that management uses to evaluate our performance or liquidity and is responsive to questions we receive from both investors and analysts. INVESTOR ACTION REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Restaurant Brands International Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm Net losses (gains) on disposal of assets, restaurant closures, and refranchisings represent sales of properties and other costs related to restaurant closures and refranchisings. We evaluate our restaurants and assess our business based on the following operating metrics. Jose Cil, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, "I am very proud of the entire RBI family through these early days of the COVID-19 crisis. Adjustments to reconcile net income to net cash provided by operating activities: Amortization of deferred financing costs and debt issuance discount, (Gain) loss on remeasurement of foreign denominated transactions. Restaurant Brands International (NYSE: QSR) reported its 4th quarter and full year results on February 12, 2019 before the market opened. These independently operated brands have been serving their respective guests, franchisees and communities for over 45 years. Our Q1 results were obviously impacted by COVID-19 despite the strength and expertise of our diversified global businesses that quickly responded to the crisis. Adjusted income tax expense includes the tax impact of the non-GAAP adjustments and is calculated using our statutory tax rate in the jurisdiction in which the costs were incurred. The AP news staff was not involved in its creation. Represents share-based compensation expense associated with equity awards for the periods indicated; also includes the portion of annual non-cash incentive compensation expense that eligible employees elected to receive or are expected to elect to receive as common equity in lieu of their 2019 and 2020 cash bonus, respectively. from 8 AM - 9 PM ET. RBI owns three of the world's most prominent and iconic quick service restaurant brands - TIM HORTONS®, BURGER KING®, and POPEYES®. To supplement our condensed consolidated financial statements presented on a GAAP basis, RBI reports the following non-GAAP financial measures: EBITDA, Adjusted EBITDA, LTM Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted Earnings per Share ("Adjusted Diluted EPS"), Organic revenue growth, Organic Adjusted EBITDA growth, Free Cash Flow and Net Leverage. We do not record franchise sales as revenues; however, our franchise revenues include royalties based on a percentage of franchise sales. Where permitted, many of our restaurants are operating with limited service modes serving food through channels such as drive-thru, delivery, and take-out. Net restaurant growth refers to the net increase in restaurant count (openings, net of permanent closures) over a trailing twelve month period, divided by the restaurant count at the beginning of the trailing twelve month period. RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIESNon-GAAP Financial MeasuresReconciliation of EBITDA and Adjusted EBITDA to Net Income(Unaudited), Share-based compensation and non-cash incentive compensation expense(1), Corporate restructuring and tax advisory fees(2), Office centralization and relocation costs(3), RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIESNon-GAAP Financial MeasuresReconciliation of Net Income to Adjusted Net Income and Adjusted Diluted EPS(Unaudited), Interest expense and loss on extinguished debt(6), Weighted average diluted shares outstanding, RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIESNon-GAAP Financial MeasuresReconciliation of Net Leverage and Free Cash Flow(Unaudited), Current portion of long term debt and finance leases, Unamortized deferred financing costs and deferred issue discount, Net cash provided by (used for)operating activities, Non-GAAP Financial MeasuresFootnotes to Reconciliation Tables. Restaurant Brands International Inc. (RBI) (TSX: QSR) (NYSE: QSR) (TSX: QSP) today announced that Sami Siddiqui has been appointed President of Popeyes Louisiana Kitchen for the Americas. -Restaurant Brands International Inc. today reported financial results for the full year and fourth quarter ended December 31, 2019. Press release content from Business Wire. Articles. LTM Adjusted EBITDA as of March 31, 2020 is the sum of the Adjusted EBITDA for the quarters ended March 31, 2020, December 31, 2019, September 30, 2019, and June 30, 2019, while LTM Adjusted EBITDA as of March 31, 2019 is the sum of the Adjusted EBITDA for the quarters ended March 31, 2019, December 31, 2018, September 30, 2018 and June 30, 2018. The global spread of COVID-19 in March had a significant impact on sales performance in the quarter. This decrease was also driven by FX movements on a GAAP basis. System-wide sales are driven by sales at franchise restaurants, as approximately 100% of current restaurants are franchised. In the last two weeks of March we saw daily comparable sales decrease on average by a percentage in the low thirties, however daily comparable sales are now down in the negative teens on a percentage basis as of the end of April. November 25, 2020. The effective tax rate was reduced by 0.1% and 4.1% for the three months ended March 31, 2020 and 2019, respectively, and our adjusted effective tax rate was reduced by 0.1% and 3.9% for the three months ended March 31, 2020 and 2019, respectively, as a result of benefits from stock option exercises. Restaurant Brands International Inc. (QSR.TO) has received 54.82% “underperform” votes from our community. The global spread of COVID-19 in March impacted sales performance in the quarter. EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Restaurant Brands International Inc. – QSR October 30, 2020 10:14 AM Eastern Daylight Time Restaurant Brands International has 6,300 employees across 6 locations and $5.60 B in annual revenue in FY 2019. Adjusted Net Income is defined as net income excluding (i) franchise agreement amortization as a result of acquisition accounting, (ii) amortization of deferred financing costs and debt issuance discount, (iii) loss on early extinguishment of debt and interest expense, which represents non-cash interest expense related to losses reclassified from accumulated comprehensive income (loss) into interest expense in connection with interest rate swaps de-designated in May 2015 and November 2019, (iv) (income) loss from equity method investments, net of cash distributions received from equity method investments, (v) other operating expenses (income), net, and (vi) other specifically identified costs associated with non-recurring projects. Gains and losses recognized in the current period may reflect certain costs related to closures and refranchisings that occurred in previous periods. A press release is the quickest and easiest way to get free publicity. Other than as required under U.S. federal securities laws or Canadian securities laws, we do not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, change in expectations or otherwise. The decrease in Net Income Attributable to Common Shareholders and Noncontrolling Interests for the first quarter was primarily driven by a decrease in TH and BK segment income, partially offset by an increase in PLK segment income, a decrease in interest expense and a decrease in income tax expense. COVID-19 Impact on Restaurant Brands International Summary COVID-19 Impact on Restaurant Brands International May 19, 2020 based on market analysis and brand diversification by industry and geography. KFC Italy focuses on digital and launches e-commerce. The year-over-year change in Total Revenues on a GAAP and on an organic basis was primarily driven by the decrease in system-wide sales, which was concentrated in the month of March. Press Release issued Nov 10, 2020: An investor, who purchased shares of Restaurant Brands International Inc. (NYSE:QSR), filed a lawsuit over alleged violations of Securities Laws by Restaurant Brands International Inc. in connection with the Company's secondary public offerings conducted in August and September 2019. QSR Investor Notification: Bronstein, Gewirtz & Grossman, LLC Notifies Restaurant Brands International Inc. of Class Action and Encourages Shareholders to Contact the Firm The three Baltic states are among the few remaining countries in Europe where Burger King currently does not have restaurants. In Europe, Middle East and Africa as well as Latin America, approximately half of our restaurants were temporarily closed due to COVID-19 as of the end of the quarter. With the acquisition of Johnny Rockets, FAT Brands will have more than 700 franchised and company owned restaurants around the globe with … The dial-in number is (877) 317-6711 for U.S. callers, (866) 450-4696 for Canadian callers, and (412) 317-5475 for callers from other countries. The AP news staff was not involved in its creation. The year-over year change in Adjusted EBITDA as reported and on an organic basis was primarily driven by the decrease in TH and BK Adjusted EBITDA, partially offset by an increase in PLK Adjusted EBITDA. Restaurant Brands International Inc. Mar 30, 2020, 16:30 ET. Our teams have taken thoughtful and immediate actions to protect and serve our guests and our restaurant owners have shown great resilience in overcoming the challenges we all face. Restaurant Brands New Zealand Limited operates the New Zealand outlets of KFC, Pizza Hut and Carl's Jr. together with KFC in Australia and Pizza Hut and Taco Bell in Hawaii, Guam and Saipan. ET The year-over-year change in Total Revenues on a GAAP basis was primarily driven by a decline in system wide sales at TH and BK and a decrease in supply chain sales, partially offset by an increase in system wide sales at PLK. Below, we define the non-GAAP financial measures, provide a reconciliation of each non-GAAP financial measure to the most directly comparable financial measure calculated in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"), and discuss the reasons why we believe this information is useful to management and may be useful to investors. MarketBeat's community ratings are surveys of what our community members think about Restaurant Brands International Inc. (QSR.TO) and other stocks. RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIESCondensed Consolidated Statements of Operations(In millions of U.S. dollars, except per share data)(Unaudited), Selling, general and administrative expenses, (Income) loss from equity method investments, Net income attributable to noncontrolling interests, Net income attributable to common shareholders, RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIESCondensed Consolidated Balance Sheets(In millions of U.S. dollars, except share data)(Unaudited), Accounts and notes receivable, net of allowance of $16 and $13, respectively, Property and equipment, net of accumulated depreciation and amortization of$751 and $746, respectively, Net investment in property leased to franchisees, Current portion of long-term debt and finance leases, Operating lease liabilities, net of current portion, Common shares, no par value; unlimited shares authorized at March 31,2020 and December 31, 2019; 299,767,716 shares issued and outstandingat March 31, 2020; 298,281,081 shares issued and outstanding at December 31, 2019, Accumulated other comprehensive income (loss), Total Restaurant Brands International Inc. shareholders' equity, Total liabilities and shareholders' equity, RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIESCondensed Consolidated Statements of Cash Flows(In millions of U.S. dollars)(Unaudited). Net Leverage is defined as net debt (total debt less cash and cash equivalents) divided by LTM Adjusted EBITDA. Restaurant Brands International Inc. We calculate the impact of FX movements by translating prior year results at current year monthly average exchange rates. Management believes that organic growth is an important metric for measuring the operating performance of our business as it helps identify underlying business trends, without distortion from the effects of FX movements. NPC International, Inc. is the largest franchisee of any restaurant concept in the U.S., based on unit count, and the fifth largest restaurant unit operator, based on unit count, in the U.S. Find the latest press releases from Restaurant Brands International Inc. Common Shares (QSR) at Nasdaq.com. These measures do not have standardized meanings under GAAP and may differ from similarly captioned measures of other companies in our industry. QSR: Get the latest Restaurant Brands International stock price and detailed information including QSR news, historical charts and realtime prices. View original content to download multimedia: http://www.prnewswire.com/news-releases/restaurant-brands-international-inc-announces-participation-at-upcoming-investor-conference-301180033.html. Restaurant Brands International Inc. ("RBI") is one of the world's largest quick service restaurant companies with more than $30 billion in system … This press release template includes space to accommodate all the necessary aspects of a standard business press release. Here are the secret rules to make sure that your message gets through to your prospects. System-wide sales represent sales at all franchise restaurants and company-owned restaurants. The RBI Board of Directors has declared a dividend of $0.52 per common share and partnership exchangeable unit of Restaurant Brands International Limited Partnership for the second quarter of 2020. As the quarter progressed, the COVID-19 global pandemic began to significantly impact our three brands' operations and sales performance, first in Asia, and then around the world. RESTAURANT BRANDS INTERNATIONAL Press Release. All of RBI has rallied in the face of the COVID-19 crisis and through the strength of our brands, commitment of our restaurant owners, dedication of their team members and the resilience of our brand teams, I am confident that we will finish 2020 as a stronger organization than when we started the year," concluded Cil.". The year-over-year change in Total Revenues on a GAAP and on an organic basis was primarily driven by the decrease in system-wide sales, which was concentrated in the month of March. Restaurant Brands International Inc. is one of the world’s largest quick service restaurant companies with approximately $32 billion in annual system-wide sales and 27,000 restaurants in more than 100 countries and U.S. territories. RBI establishes support programs for restaurant owners and team members impacted by COVID-19, Response to COVID-19 crisis includes the rapid advancement of digital platforms, POPEYES® delivers remarkable system-wide sales growth of 32% led by the Chicken Sandwich, RBI further enhances strong liquidity position of $2.5 billion by adding $500 million of 1st Lien Notes in April. About Restaurant Brands International Inc. Insert your company logo, and provide contact information, release date/time instructions, a direct, engaging headline, boilerplate text, a call to action (CTA), and end notation. The dividend will be payable on June 30, 2020 to shareholders and unitholders of record at the close of business on June 17, 2020. System-wide sales growth and comparable sales are measured on a constant currency basis, which means that results exclude the effect of foreign currency translation and are calculated by translating prior year results at current year monthly average exchange rates. Drive thru and digital channels drive 30-point recovery in comparable sales across brands from end of March to June . Yum! Restaurant Brands International Inc. is one of the world's largest quick service restaurant companies with approximately $34 billion in annual system-wide sales and over 27,000 restaurants in more than 100 countries and U.S. territories. We do not record franchise sales as revenues; however, our franchise revenues include royalties based on a percentage of franchise sales. See insights on Restaurant Brands International including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. This press release contains certain forward-looking statements and information, which reflect management's current beliefs and expectations regarding future events and operating performance and speak only as of the date hereof. Represents (i) (income) loss from equity method investments and (ii) cash distributions received from our equity method investments. In the last two weeks of March we saw daily comparable sales decrease on average by a percentage in the mid-forties, however daily comparable sales are now down in the negative high thirties on a percentage basis as of the end of April. Please refer to "Non-GAAP Financial Measures" for further detail. Revenue growth and Adjusted EBITDA growth, on an organic basis, are non-GAAP measures that exclude the impact of FX movements. Restaurant Brands International Inc. is one of the world’s largest quick service restaurant companies with approximately $31 billion in annual system-wide sales and over 27,000 restaurants in more than 100 countries and U.S. territories. Whilst all companies in the foodservice sector will see a … Changes in current assets and liabilities, excluding acquisitions and dispositions: Inventories and prepaids and other current assets, Other accrued liabilities and gift card liability, Net cash provided by operating activities, Net proceeds from disposal of assets, restaurant closures, and refranchisings, Net cash (used for) provided by investing activities, Proceeds from revolving line of credit and long-term debt, Repayments of long-term debt and finance leases, Payment of dividends on common shares and distributions on Partnership exchangeable units, Net cash provided by (used for) financing activities, Effect of exchange rates on cash and cash equivalents, Increase (decrease) in cash and cash equivalents, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, RESTAURANT BRANDS INTERNATIONAL INC. AND SUBSIDIARIESKey Operating Metrics. 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