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Restaurant Brands International Limited Partnership (RSTRF) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

RSTRF Quarterly Reports

Restaurant Brands International Limited

CIK: 1618755 Ticker: RSTRF

EXHIBIT 99
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Restaurant Brands International Inc. Reports First Quarter 2022 Results
First quarter system-wide sales grow 14%, up nearly $1 billion year-over year
Global comparable sales growth of 8% driven by over 10% at Tim Hortons Canada and over 20% at Burger King International
Home market digital sales reach their highest levels ever as a percentage of system-wide sales
Record number of first quarter restaurant openings, led by multi-brand international growth and Popeyes in the US
Over $400 million of capital returned to shareholders in Q1 through dividends and share buybacks

Toronto, May 3, 2022 - Restaurant Brands International Inc. (TSX: QSR) (NYSE: QSR) (TSX: QSP) today reported financial results for the first quarter ended March 31, 2022.

José Cil, Chief Executive Officer of Restaurant Brands International Inc. (“RBI”) commented, “Our first quarter results reflect the hard work of our great franchisees, team members, and employees with important milestones including a strong resurgence in comparable sales, record first quarter new restaurant openings, and the highest level of digital engagement we have seen from guests across our home markets. This progress allowed us to continue investing behind our key priorities, while also returning over $400 million to shareholders between dividends and share repurchases.”

“Tim Hortons Canada and Burger King International had standout sales performances, both with double digit comparable sales growth during the first quarter, while Burger King U.S. continued to lay the foundation to return to long term, sustainable growth. In addition, our strong start to the year in new restaurant openings and the progress we’ve made in ramping our global development capabilities at Tim Hortons and Popeyes gives us confidence that we are on track to accelerate unit growth in 2022.”

Cil continued, “With home market digital sales reaching their highest levels ever, we’re pleased with the investments we’ve made to allow our guests to engage with our brands in more convenient and personal ways – whether it’s at the front counter, in the drive-thru, or ahead of time through mobile ordering. We believe we’re well positioned to continue our momentum from the first quarter, with experienced leaders guiding our brands and collaborating with our amazing franchisee networks to grow all four of our brands over the long-term.” concluded Cil.
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The following information was filed by Restaurant Brands International Limited Partnership (RSTRF) on Tuesday, May 3, 2022 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 2022 10-K Annual Report includes:

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Inside this 10-Q Quarterly Report

Cover
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 (Policies)
Basis Of Presentation And Consolidation - Additional Information (Details)
Commitments And Contingencies
Commitments And Contingencies - Narrative (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)
Firehouse Acquisition
Firehouse Acquisition (Tables)
Firehouse Acquisition - Narrative (Details)
Firehouse Acquisition - Schedule Of Adjustments To Net Assets (Details)
Firehouse Acquisition - Schedule Of Preliminary Allocation Of Consideration To Net Tangible And Intangible Assets Acquired (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 - Property Revenues (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Re Facility (Details)
Long-Term Debt - Revolving Credit Facility (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 (Details)
New Accounting Pronouncements
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)
Supplemental Financial Information - Narrative (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: 0001618755-22-000016
Submitted to the SEC: Tue May 03 2022 4:15:56 PM EST
Accepted by the SEC: Tue May 03 2022
Period: Thursday, March 31, 2022
Industry: Retail Eating Places

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