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Restaurant Brands International Inc. Reports Full Year and Fourth Quarter 2016 Results
Oakville, Ontario February 13, 2017 Restaurant Brands International Inc. (TSX/NYSE: QSR, TSX: QSP) today reported financial results for the full year and fourth quarter ended December 31, 2016.
Daniel Schwartz, Chief Executive Officer of Restaurant Brands International Inc. (RBI) commented, We are pleased to report another year of solid results, with strong financial performance in the fourth quarter. Our continued focus on guest satisfaction and value creation for all of our stakeholders has resulted in accelerated restaurant development and continued system-wide sales growth at both of our iconic brands, TIM HORTONS® and BURGER KING®. We are excited about our progress this year and are committed to building on these results to achieve long-term sustainable growth.
Full Year 2016 Highlights:
|||RBI Total Revenues of $4,145.8 million versus $4,052.2 million in prior year|
|||RBI Net Income Attributable to Common Shareholders of $345.6 million versus $103.9 million in prior year|
|||RBI Diluted EPS of $1.45 versus $0.50 in prior year|
|||Tim Hortons (TH) comparable sales increased 2.5% and Burger King (BK) comparable sales increased 2.3% in constant currency|
|||Restaurant count increased 4.5% at TH and 4.9% at BK year-over-year|
|||System-wide sales grew 5.2% at TH and 7.8% at BK in constant currency|
|||RBI Adjusted EBITDA of $1,888.2 million was up 16.4% on an organic basis versus prior year results|
|||RBI Adjusted Diluted EPS of $1.58 was up 45.0% versus prior year results|
|||RBI declared dividends of $0.62 per common share and partnership exchangeable unit of Restaurant Brands International Limited Partnership in 2016, up 40.9% versus prior year declared dividends|
Fourth Quarter 2016 Highlights:
|||RBI Total Revenues of $1,111.4 million versus $1,057.0 million in prior year period|
|||RBI Net Income Attributable to Common Shareholders of $118.4 million versus $51.7 million in prior year period|
|||RBI Diluted EPS of $0.50 versus $0.25 in prior year period|
|||TH comparable sales increased 0.2% and BK comparable sales increased 2.8% in constant currency|
|||System-wide sales grew 2.4% at TH and 8.5% at BK in constant currency|
|||RBI Adjusted EBITDA of $512.4 million was up 16.4% on an organic basis versus prior year results|
|||RBI Adjusted Diluted EPS of $0.44 was up 37.5% versus prior year results|
The following information was filed by Restaurant Brands International Inc. (QSR) on Monday, February 13, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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