Restaurant Brands International Reports 16% Revenue Growth to $2.41 Billion in Q2 2025

Restaurant Brands International Inc. (RBI) reported significant financial performance for the second quarter of 2025, with total revenues reaching $2.41 billion, a 16% increase from $2.08 billion in the same period last year. For the first half of 2025, revenues totaled $4.52 billion, up from $3.82 billion in the prior year. The company's net income for the quarter was $263 million, or $0.57 per diluted share, compared to $399 million, or $0.88 per diluted share, in the second quarter of 2024. The decline in net income was attributed to a decrease in income from operations and increased tax expenses.

RBI's operational metrics showed a positive trend, with system-wide sales growth of 5.3% for the quarter and 4.1% for the first half of the year. The company reported a total of 32,229 restaurants globally, with a net restaurant growth of 2.9% over the past year. The increase in revenues was driven by higher supply chain sales and company restaurant sales, which rose to $732 million and $600 million, respectively, for the quarter. Franchise and property revenues also contributed, totaling $760 million.

Strategically, RBI has been active in expanding its portfolio through acquisitions. The company completed the acquisition of Carrols Restaurant Group in May 2024 and Popeyes China in June 2024, which have been integrated into its operations. The BK China acquisition, completed in February 2025, has been classified as held for sale, and RBI is currently seeking a new controlling shareholder for this segment. The integration of these acquisitions has resulted in increased operational complexity but is expected to enhance long-term growth.

In terms of financial health, RBI's total assets increased to $25.69 billion as of June 30, 2025, up from $24.63 billion at the end of 2024. The company's cash and cash equivalents stood at $1.03 billion, down from $1.33 billion at the end of the previous year. Total liabilities also rose to $20.60 billion, reflecting the impact of recent acquisitions and ongoing operational investments. The company has maintained compliance with its debt covenants and has a robust liquidity position, with $1.25 billion available under its revolving credit facility.

Looking ahead, RBI's management remains optimistic about future growth, driven by ongoing investments in its brands and operational efficiencies. The company plans to continue its focus on refranchising and optimizing its restaurant portfolio while managing costs effectively. The board has also approved a new share repurchase program, allowing for the buyback of up to $1 billion of common shares, which reflects confidence in the company's long-term value.