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cnbc.comOCT 293 min read$QSR

Restaurant Brands reports mixed results as Burger King's U.S. turnaround shows signs of success

Restaurant Brands International reported mixed Q3 results, with earnings per share of $1.10 (adjusted) beating estimates, but revenue of $2.53B missing expectations. Burger King showed strong U.S. same-store sales growth of 8.4%, while Popeyes lagged with a 2.2% decline. Tim Hortons saw 1.8% same-store sales growth in Canada. International business grew 3.9%, driven by Burger King.

Original reporting
cnbc.com
Published Oct 29, 2026, 10:32 AM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Oct 29, 2026, 10:35 AM UTC. Informational, not investment advice.
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Restaurant Brands reports mixed results as Burger King's U.S. turnaround shows signs of success — source image
Source · cnbc.com
Decision brief

The 30-second read

$QSRBullishHigh
01

Why it matters

The earnings beat on a narrow margin and modest revenue miss create a balanced outlook; investors will focus on the sustainability of Burger King's turnaround and the path to revive Popeyes.

02

Market read

QSR's earnings provide fresh data on segment performance, influencing quick‑service restaurant stocks and sector sentiment.

03

What to watch

International same‑store sales growth of 3.9% and overall same‑store sales up 3.8% suggest broader resilience.

Relevance 9/10Novelty 9/10Timing: post-market today

Background

Restaurant Brands International (QSR) released its fiscal Q3 earnings, reporting EPS $1.10 adjusted versus $1.09 consensus, revenue $2.53B versus $2.54B estimate, and mixed same‑store sales across its brands.

Company-level read

Ticker impact

$QSRBullishMedium confidence
Context

Restaurant Brands International posted mixed Q3 results with Burger King U.S. sales up 8.4% but Popeyes sales down 2.2%, EPS $1.10 vs $1.09 estimate.

Expected impact

likely modest pressure as market weighs mixed segment performance

Evidence & confidence

EPS beat is narrow and revenue miss is slight; positive Burger King data may limit downside but overall mixed results reduce upside.

Market effects

Sector

Fast‑food sector may see varied reactions; Burger King strength could buoy peers, while Popeyes weakness highlights competitive pressure.

Regional

U.S. quick‑service restaurant stocks may experience modest volatility.

Global

Limited to North American quick‑service operators.

Counterpoint

What could challenge this read

Investors could view the strong Burger King turnaround as a catalyst for a rebound, outweighing Popeyes weakness.

Key entities

  • company
    Restaurant Brands International

    Parent of Burger King, Popeyes, and Tim Hortons.

  • brand
    Burger King

    U.S. same‑store sales up 8.4%.

  • brand
    Popeyes

    U.S. same‑store sales down 2.2%.

Read at source← All news

StoryRestaurant Brands International posts Q3 2026 results with 6.2% system‑wide sales growth and $1.10 adjusted EPS

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