CURTIS THOMAS BENJAMIN sold $5.2M of QSR

Burger King President Tom Curtis comments on Trump's 90-day tariff-free beef import plan. While ranchers oppose it, fast-food chains like Restaurant Brands International (QSR), McDonald's (MCD), and Wendy's (WEN) may benefit from lower meat costs. The impact on next quarter's earnings is uncertain.

Restaurant Brands International (QSR) reports strong U.S. same-store sales growth for Burger King at 8.5% in Q2, outpacing McDonald's. The company's Reclaim the Flame initiative and Whopper relaunch have driven market share gains. However, Tim Hortons' growth slowed to 0.1%, and Popeyes saw a 5.2% decline in U.S. same-store sales. International sales rose 5.5%, with Burger King and international segments showing expansion.

Restaurant Brands International (NYSE: QSR) said RBI LP received an exchange notice from 3G Restaurant Brands Holdings LP to exchange 2,784,549 Class B exchangeable units. RBI LP plans to repurchase the units for cash using available funds, with settlement scheduled for Aug. 31, 2026. After settlement, units will be cancelled and RBH will hold about 21% of fully diluted shares, based on a 20-day VWAP.

Restaurant Brands International (QSR) reported Q2 results with adjusted EPS of $1.07 vs $1.03 expected and revenue of $2.52B, up about 4.5% y/y. Burger King US same-store sales rose 8.5%, helping it regain second-largest US burger brand by systemwide sales from Wendy’s (-7.0%). QSR shares fell ~1.6% to $73.89. QSR returned $435M via dividends and buybacks.

Restaurant Brands International (QSR) reported Q2 call highlights including Burger King average unit volumes up more than 20% since its elevation campaign, and Kids Meal volumes up nearly 50% vs 2022. International delivered 5.5% comparable-sales growth. Free cash flow was $501 million, with $137 million stock repurchases and guidance for 2026 refranchising. Liquidity was about $2.3 billion.

Restaurant Brands International (Q2) reported adjusted earnings of $1.07 per share vs $1.03 expected, and net revenue up 4.5% to $2.52 billion, per LSEG. Burger King US same-store sales rose 8.5%. Tim Hortons Canada was flat (+0.1%) and Popeyes US same-store sales fell 5.2%. Shares fell over 1% after the report.