Canada’s Restaurant Brands International (QSR) has posted fourth-quarter 2025 financial results that narrowly beat Wall Street forecasts.
The Toronto-based company and parent of Tim Hortons reported earnings per share of $0.96 U.S., which was slightly ahead of the $0.95 U.S. expected among analysts.
Revenue of $2.47 billion U.S. topped the $2.41 billion U.S. forecast on Wall Street. Sales increased 6.5% from a year earlier.
Restaurant Brands also owns Burger King, Popeyes, and Firehouse Subs. The company’s same-store sales rose 3.1% year-over-year, fueled by strong international growth.
Outside the U.S. and Canada, Restaurant Brands’ same-store sales grew 6.1%.
International Burger King restaurants were the main driver of Q4 2025 growth with same-store sales increasing 5.8%.
Tim Hortons underperformed during the quarter, posting same-store sales growth of 2.9%, below the 3.8% anticipated by analysts.
Tim Hortons accounted for 46% of Restaurant Brands’ total revenue during Q4 2025.
Popeyes was the real laggard during the latest quarter. Its same-store sales fell 4.8%, a steeper drop than the 2.4% decrease forecast on Wall Street.
Management at Restaurant Brands said they plan to keep growing in 2026.
Last November, the company announced a joint venture for Burger King China to accelerate expansion in the Asian nation.
Restaurant Brands also has plans to revive the Popeyes fried chicken chain. The company has tapped Burger King veteran Peter Perdue to lead Popeyes U.S. and Canadian business.
Executives at Restaurant Brands said they will share more details on the growth strategy at an upcoming investor day scheduled for Feb. 26.
QSR stock has risen 7% in the last 12 months to trade at $70.70 U.S. per share.
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