Restaurant Brands International reports mixed third-quarter earnings

Restaurant Brands International reported third-quarter net income of $542 million, or $1.54 per share, an increase from $315 million in the prior-year period. Net revenue rose 3.1% to $2.53 billion, while consolidated same-store sales grew by 3.8%.

Performance varied across the company's portfolio. Burger King saw U.S. same-store sales growth of 8.4%, driven by a multiyear turnaround strategy and the relaunch of chicken nuggets using 100% white meat. Tim Hortons reported 1.8% same-store sales growth in Canada, supported by a new matcha drink line.

In contrast, Popeyes experienced a 2.2% decline in U.S. same-store sales. The company attributed this underperformance to competitive promotional pricing and has extended its timeline for returning to sales growth beyond the previously forecasted second half of the year.