Business
Restaurant Brands earnings top estimates, fueled by Tim Hortons and international growth
A general view of a Tim Hortons Drive-Thru coffeehouse and restaurant at Lakeside Retail Park on February 5, 2024 in Grays, United Kingdom.
John Keeble | Getty Images
Restaurant Brands International on Thursday reported quarterly earnings and revenue that beat analysts’ expectations, fueled by growth of its international restaurants and Tim Hortons.
Combined, the two divisions account for roughly 70% of the company’s earnings, according to CEO Josh Kobza.
Like many restaurants, the company has seen low- and middle-income consumers spend less on dining in recent quarters. Diners didn’t change their behavior in the third quarter, but executives credited sticking to their strategy and avoiding the so-called value wars for the company’s strong quarterly performance, particularly at Burger King’s U.S. restaurants.
“If you look at our results, we’re doing well despite some of those trends,” Kobza told CNBC.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: $1.03 adjusted vs. $1 expected
- Revenue: $2.45 billion vs. $2.4 billion expected
Restaurant Brands reported third-quarter net income attributable to shareholders of $315 million, or 96 cents per share, up from $252 million, or 79 cents per share, a year earlier.
Excluding transaction costs and other items, the company earned $1.03 per share.
Net sales rose 6.9% to $2.45 billion. The company’s same-store sales, which only track the metric at restaurants open at least a year, grew 4%.
Restaurant Brands’ international segment was the star of the quarter, reporting 6.5% same-store sales growth. That topped the StreetAccount consensus estimate of 4.4%. The company’s restaurants in Western Europe, China and Japan fueled the segment’s same-store sales growth, Kobza told CNBC.
Tim Hortons reported same-store sales growth of 4.2%. The Canadian coffee chain has been leaning more into food offerings to drive sales and traffic at its restaurants. Executives also said an improved iced latte is driving sales of cold drinks, which grew 10% in the quarter.
Burger King’s same-store sales increased 3.1%, showing that the chain’s turnaround strategy in the U.S. is paying off for the business. Burger King has focused on restaurant renovations and marketing based on core menu items like the Whopper to revive domestic sales. The remodeled restaurants are paying off for franchisees as well, which is lifting operators’ profitability, according to Burger King U.S. President Tom Curtis.
Looking ahead, the burger chain is planning to lean into “product elevation,” Curtis said in an interview.
“I think that’s important in an environment where you hear a lot about shrinkflation, and you hear a lot about cost cutting. So for us, we’re going to be zigging while others are zagging,” he added.
Popeyes was the only Restaurant Brands division to report same-store sales declines. The chicken chain saw its same-store sales shrink 2.4%. In recent quarters, it has struggled to keep up with rivals, particularly when it comes to competition for value-minded customers.
“I think what we want to focus on in the coming quarters is making even more progress on the operational side, in terms of the consistency of the guest experience that we’re delivering across the store base,” Kobza said.
Looking ahead, executives said Popeyes will also focus more on its core menu items after spending much of the last year highlighting innovations, like bone-in chicken wings.
New Delhi: February 2026 brings a series of important deadlines related to Tax Deducted at Source (TDS) that taxpayers and deductors should not overlook. From issuing TDS certificates to submitting mandatory statutory forms, these compliance dates play a key role in ensuring smooth and accurate tax reporting. Businesses, employers, and government offices must stay alert and complete the required filings on time to avoid penalties or complications under the Income-tax Act. Keeping track of these dates can help ensure hassle-free compliance and prevent last-minute stress.
February 14:
– Deadline for issuing TDS certificate under Section 194-IA for tax deducted on transfer of immovable property in December 2025.
– Deadline for issuing TDS certificate under Section 194-IB for tax deducted on rent paid by individuals or HUFs in December 2025.
– Deadline for issuing TDS certificate under Section 194M for tax deducted on contractual or professional payments made in December 2025.
– Deadline for issuing TDS certificate under Section 194S for tax deducted on transfer of virtual digital assets by specified persons in December 2025.
February 15:
– Deadline for government offices to furnish Form 24G where TDS/TCS for January 2026 was deposited without generating a challan.
– Deadline for issuing the quarterly TDS certificate for non-salary payments for the quarter ended December 31, 2025.
New Delhi: US entrepreneur Elon Musk’s net worth surged past the $800 billion mark after SpaceX acquired his artificial‑intelligence firm xAI, making him the richest person in history by a wide margin.
Musk’s net worth reached roughly $852 billion, almost $578 billion higher than the world’s second-wealthiest person, Google co-founder Larry Page, whose net worth is estimated at $281 billion.
The merger took the combined value of the company to $1.25 trillion and added about $84 billion to Musk’s fortune, according to reports.
Before the merger, Musk owned about 42 per cent of SpaceX which was valued at $800 billion and roughly 49 per cent of xAI, which was valued at $250 billion after a recent private fundraising round. Post‑merger, Musk’s stake in the combined entity touched 43 per cent, worth about $542 billion and SpaceX became Musk’s largest holding by a wide margin, the reports said.
Musk also retains about 12 per cent of Tesla, valued at approximately $178 billion, along with Tesla stock options, estimated at $124 billion. Further, in addition to these, Musk also receives a shareholder‑approved Tesla pay package up to $1 trillion in additional Tesla stock, before taxes over the next decade and the cost of unlocking restricted shares, if performance targets are met.
He crossed several wealth milestones in the past four months such as $500 billion, $600 billion and $700 billion, driven by SpaceX valuation gains and a Delaware Supreme Court ruling that restored his Tesla options.
Musk earlier said that SpaceX’s Starship will begin delivering the much more powerful V3 Starlink satellites to orbit in 2026, with each launch adding more than 20 times the capacity to the constellation as the current Falcon launches of the V2 Starlink satellites.
It will enable launches “every hour carrying 200 tons per flight” and ultimately lifting millions of tons to orbit and beyond, Musk has shared his plan.
Starship will also launch the next generation of direct-to-mobile satellites, which will deliver full cellular coverage everywhere on Earth, he added.
Last Updated:
Indian equities paused on Wednesday after the previous session’s sharp surge triggered by the India–US trade agreement
Stock Market Today.
Sensex Today: Indian equities paused on Wednesday after the previous session’s sharp surge triggered by the India–US trade agreement. The pact, which reduced US tariffs on Indian goods to 18 per cent from 50 per cent, had buoyed sentiment and removed a major overhang, but markets turned cautious as traders booked profits.
A decline in information technology stocks further weighed on the mood.
At the open, the BSE Sensex was around 83,430, down 309 points or 0.37 per cent, while the Nifty 50 stood at 25,663, lower by 65 points or 0.25 per cent.
Broader markets also traded in the red, with the Nifty MidCap index slipping 0.48 per cent and the Nifty SmallCap index easing 0.18 per cent.
The Nifty IT index tumbled more than 5.5 per cent, led by losses in Persistent Systems, LTIMindtree, Infosys, HCL Tech, Coforge, TCS, Mphasis and Tech Mahindra.
Global cues
US markets ended lower overnight as investors rotated out of technology stocks into sectors more closely tied to economic recovery. The Dow Jones slipped 0.34 per cent, the S&P 500 declined 0.84 per cent, and the Nasdaq fell 1.43 per cent at the close.
Asian markets were mixed in early trade on Wednesday amid the absence of strong triggers. China’s CSI 300 index dropped 0.29 per cent, Hong Kong’s Hang Seng edged down 0.05 per cent, and Japan’s Nikkei lost 0.61 per cent. In contrast, South Korea’s Kospi rose 0.54 per cent.
In commodities, spot gold gained over 1 per cent to $5,002 per ounce, while spot silver advanced 0.69 per cent to $85.70 per ounce.
On the macro front, investors await the release of S&P Global/HSBC composite and services PMI final data for January from both India and Japan.
February 04, 2026, 09:13 IST
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