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Restaurant Brands International Limited Partnership (RSTRF) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Restaurant Brands International Limited

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CIK: 1618755 Ticker: RSTRF


EXHIBIT 99
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Restaurant Brands International Inc Reports First Quarter 2019 Results
BURGER KING® and POPEYES® deliver strong system-wide sales growth and continue expanding global restaurant footprint
TIM HORTONS® continues to deliver on Winning Together Plan, launches loyalty program with strong engagement

Toronto, Ontario – April 29, 2019 – Restaurant Brands International Inc. (TSX/NYSE: QSR, TSX: QSP) today reported financial results for the first quarter ended March 31, 2019.
Jose Cil, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, "At BURGER KING® and POPEYES®, we saw strong system-wide sales growth driven by net restaurant growth, reflecting the strength of our brands and business model around the world. Underlying fundamentals at TIM HORTONS® remain strong and we are excited about our first three restaurants in China.  Overall, we are confident in the long-term growth prospects for each of our three iconic brands, and remain focused on providing a great guest experience while driving franchisee profitability."
Consolidated Operational Highlights
Three Months Ended March 31,
 
2019
 
2018
 
(Unaudited)
System-wide Sales Growth
 
 
 
 
 
    TH
 
0.5
 %
 
 
2.1
 %
    BK
 
8.2
 %
 
 
11.3
 %
    PLK
 
6.8
 %
 
 
10.9
 %
Consolidated
 
6.4
 %
 
 
9.2
 %
System-wide Sales (in US$ millions)
 
 
 
 
 
    TH
$
1,547
 
$
1,608
    BK
$
5,289
 
$
5,149
    PLK
$
955
 
$
903
Consolidated
$
7,791
 
$
7,660
Net Restaurant Growth
 
 
 
 
 
    TH
 
1.9
 %
 
 
2.8
 %
    BK
 
5.7
 %
 
 
6.9
 %
    PLK
 
6.6
 %
 
 
6.7
 %
Consolidated
 
5.1
 %
 
 
6.1
 %
System Restaurant Count at Period End
 
 
 
 
 
    TH
 
4,866
 
 
4,774
    BK
 
17,823
 
 
16,859
    PLK
 
3,120
 
 
2,926
Consolidated
 
25,809
 
 
24,559
Comparable Sales
 
 
 
 
 
    TH
 
(0.6
)%
 
 
(0.3
)%
    BK
 
2.2
 %
 
 
3.8
 %
    PLK
 
0.6
 %
 
 
3.2
 %
 

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 Monday, April 29, 2019 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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Restaurant Brands International Limited Partnership's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

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 Equity (Parenthetical)
Condensed Consolidated Statements Of Operations
Basis Of Presentation And Consolidation
Basis Of Presentation And Consolidation - Additional Information (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)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Adjustments To Balance Sheet Due To Topic 842 (Details)
Leases - Assets Leased To Franchises (Details)
Leases - Future Minimum Lease Receipts And Commitments (Details)
Leases - Lease Cost (Details)
Leases - Lease Term And Discount Rate (Details)
Leases - Net Investment In Direct Financing Leases (Details)
Leases - Other Information Associated With Leases (Details)
Leases - Property Revenues (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)
Long-Term Debt - Th Facility - Additional Information (Details)
New Accounting Pronouncements
New Accounting Pronouncements (Policies)
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 - Change In Contract Liabilities (Details)
Revenue Recognition - Disaggregation Of Total Revenues (Details)
Revenue Recognition - Estimated Revenue Recognition (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)

Material Contracts, Statements, Certifications & more

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

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Exhibit 32.2: Section 1350 Certification
Ticker: RSTRF
CIK: 1618755
Form Type: 10-Q Quarterly Report
Accession Number: 0001618755-19-000010
Submitted to the SEC: Mon Apr 29 2019 4:50:12 PM EST
Accepted by the SEC: Mon Apr 29 2019
Period: Sunday, March 31, 2019
Industry: Retail Eating Places

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