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Restaurant Brands International Limited Partnership (RSTRF) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Restaurant Brands International Limited

CIK: 1618755 Ticker: RSTRF


EXHIBIT 99 rbilogoa21.jpg
Restaurant Brands International Inc. Reports Third Quarter 2018 Results
Further improvement of comparable sales at TIM HORTONS® driven by 'Winning Together' plan
BURGER KING® announces launch of new, modern 'Burger King of Tomorrow' restaurant image
POPEYES® restaurant count crosses 3,000 as a result of accelerated restaurant expansion
 
Oakville, Ontario – October 24, 2018 – Restaurant Brands International Inc. (TSX/NYSE: QSR, TSX: QSP) today reported financial results for the third quarter ended September 30, 2018.
 
Daniel Schwartz, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, "During the third quarter, together with our franchisees, we continued to improve Tim Hortons comparable sales by executing against our ‘Winning Together’ plan. We also unveiled our new, modern ‘Burger King of Tomorrow’ restaurant image and our plans to roll out the image across the U.S. At Popeyes, we continued to accelerate net restaurant growth and signed additional restaurant development agreements, including in the Philippines. We remain confident that our focus on guest satisfaction and franchisee profitability will drive growth at all three of our brands for many years to come."
 
Consolidated Operational Highlights
 
Three Months Ended September 30,
 
2018
 
2017
 
(Unaudited)
System-wide Sales Growth
 
 
 
 
 
    TH
 
2.8
%
 
 
3.0
 %
    BK
 
7.8
%
 
 
11.2
 %
    PLK
 
7.9
%
 
 
4.5
 %
System-wide Sales (in US$ millions)
 
 
 
 
 
    TH
$
1,793.4
 
$
1,812.3
    BK
$
5,544.4
 
$
5,335.0
    PLK
$
956.4
 
$
897.3
Comparable Sales
 
 
 
 
 
    TH
 
0.6
%
 
 
0.3
 %
    BK
 
1.0
%
 
 
3.6
 %
    PLK
 
0.5
%
 
 
(1.8
)%
Net Restaurant Growth
 
 
 
 
 
    TH
 
2.7
%
 
 
4.2
 %
    BK
 
6.1
%
 
 
6.6
 %
    PLK
 
7.6
%
 
 
5.9
 %
System Restaurant Count at Period End
 
 
 
 
 
    TH
 
4,805
 
 
4,680
    BK
 
17,239
 
 
16,253
    PLK
 
3,022
 
 
2,809
 

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. System-wide sales are driven by sales at franchise restaurants, as approximately 100% of current restaurants are franchised. We do not record franchise sales as revenues; however, our franchise revenues include royalties based on a percentage of franchise sales.

1


The following information was filed by Restaurant Brands International Limited Partnership (RSTRF) on Wednesday, October 24, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical)
Condensed Consolidated Statements Of Equity
Condensed Consolidated Statements Of Operations
Basis Of Presentation And Consolidation
Basis Of Presentation And Consolidation (Tables)
Basis Of Presentation And Consolidation - Additional Information (Details)
Basis Of Presentation And Consolidation - Reclassification Of Certain Assets (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Derivative Instruments
Derivative Instruments (Tables)
Derivative Instruments - Additional Information (Details)
Derivative Instruments - Quantitative Disclosures Of Derivative Instruments Including Estimated Fair Values (Details)
Derivative Instruments - Summary Of Financial Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Description Of Business And Organization
Description Of Business And Organization - Additional Information (Details)
Earnings Per Unit
Earnings Per Unit (Tables)
Earnings Per Unit - Basic And Diluted Earnings Per Unit (Details)
Equity
Equity (Tables)
Equity - Additional Information (Details)
Equity - Summary Of Changes In The Components Of Accumulated Other Comprehensive Income (Loss) (Details)
Equity Method Investments
Equity Method Investments (Tables)
Equity Method Investments - Additional Information (Details)
Equity Method Investments - Summary Of Franchise And Property Revenues (Details)
Income Taxes
Income Taxes - Additional Information (Details)
Intangible Assets, Net And Goodwill
Intangible Assets, Net And Goodwill (Tables)
Intangible Assets, Net And Goodwill - Additional Information (Details)
Intangible Assets, Net And Goodwill - Schedule Of Intangible Assets, Net And Goodwill (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Revolving Credit Facility - Additional Information (Details)
Long-Term Debt - Schedule Of Fair Value Measurement (Details)
Long-Term Debt - Schedule Of Interest Expense, Net (Details)
Long-Term Debt - Summary Of Long-Term Debt (Details)
New Accounting Pronouncements
New Accounting Pronouncements (Policies)
New Accounting Pronouncements - Additional Information (Details)
Other Accrued Liabilities And Other Liabilities, Net
Other Accrued Liabilities And Other Liabilities, Net (Tables)
Other Accrued Liabilities And Other Liabilities, Net - Schedule Of Other Accrued Liabilities (Current) And Other Liabilities (Noncurrent), Net (Details)
Other Operating Expenses (Income), Net
Other Operating Expenses (Income), Net (Tables)
Other Operating Expenses (Income), Net - Other Operating Expenses (Income), Net (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Details)
Revenue Recognition - Adjustments To Balance Sheet Due To Topic 606 And Pro Forma Adjustments (Details)
Revenue Recognition - Change In Contract Liabilities (Details)
Revenue Recognition - Disaggregation Of Total Revenues (Details)
Revenue Recognition - Estimated Revenue Recognition (Details)
Revenue Recognition - Pro Forma Adjustments To Cash Flow Statement (Details)
Revenue Recognition - Pro Forma Adjustments To Income Statement (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Additional Information (Details)
Segment Reporting - Reconciliation Of Segment Income To Net Income (Loss) (Details)
Segment Reporting - Revenues By Operating Segment And Country (Details)
Subsequent Events
Subsequent Events - Additional Information (Details)
Supplemental Financial Information
Supplemental Financial Information (Tables)
Supplemental Financial Information - Condensed Consolidating Balance Sheets (Details)
Supplemental Financial Information - Condensed Consolidating Statements Of Cash Flows (Details)
Supplemental Financial Information - Condensed Consolidating Statements Of Operations (Details)

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Restaurant Brands International Limited Partnership provided additional information to their SEC Filing as exhibits

Ticker: RSTRF
CIK: 1618755
Form Type: 10-Q Quarterly Report
Accession Number: 0001618755-18-000028
Submitted to the SEC: Wed Oct 24 2018 4:10:35 PM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Retail Eating Places

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