Restaurant Brands International Inc. (RBI) reported a significant increase in its financial performance for the fiscal year ending December 31, 2024, with total revenues reaching $8.4 billion, up from $7.0 billion in 2023. This represents a year-over-year growth of approximately 19.6%. The company's net income attributable to common shareholders was $1.021 billion, translating to earnings per share of $3.21, compared to $1.190 billion and $3.82 per share in the previous year. The increase in revenue was primarily driven by the acquisition of Carrols Restaurant Group and a rise in system-wide sales across all brands.
RBI's operational landscape underwent notable changes, particularly with the completion of the Carrols Acquisition on May 16, 2024, which added approximately 1,100 Burger King restaurants to its portfolio. Additionally, the acquisition of Popeyes China further expanded its international footprint. As of December 31, 2024, RBI operated a total of 32,125 restaurants globally, with approximately 95% being franchised. The company also reported a net restaurant growth of 3.5% during the year, reflecting its ongoing commitment to expanding its brand presence.
Key operational metrics indicated a positive trend in customer engagement, with system-wide sales growth driven by increased traffic and product adoption rates. The company reported a total of $2.7 billion in supply chain sales, alongside $1.6 billion in company restaurant sales. Franchise and property revenues also saw an increase, totaling $2.9 billion, which was bolstered by higher advertising contributions from franchisees. The company’s focus on enhancing customer experience through digital engagement and loyalty programs contributed to these positive results.
In terms of strategic developments, RBI's management emphasized its commitment to quality, service, and convenience as core pillars of its business strategy. The company plans to accelerate remodeling efforts for the acquired Burger King restaurants and enhance its digital ordering capabilities. Looking ahead, RBI aims to maintain its growth trajectory by exploring new international markets and strengthening its existing brand portfolio. The company has set a target of $2.48 in declared dividends per common share for 2025, reflecting its confidence in future profitability and cash flow generation.
Overall, RBI's financial performance and strategic initiatives position the company favorably for continued growth in the competitive quick-service restaurant sector. The successful integration of recent acquisitions and a focus on enhancing customer engagement through technology and product innovation are expected to drive future results.
About Restaurant Brands International Inc.
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