Restaurant Brands reports Q4 adjusted EPS 72c, consensus 74c

Reports Q4 revenue $1.69B, consensus $1.67B. Reports Q4 Tim Hortons comparable sales up 9.4%. Reports Q4 Burger King comparable sales up 8.4%. Reports Q4 Popeyes comparable sales up 3.8%. Jose Cil, CEO of RBI commented, "We rounded out an exciting 2022 with another strong quarter, including nearly 8% consolidated comparable sales and 4% net restaurant growth, reflecting the strength of four iconic, global brands. Tim Hortons Canada capped off an impressive year with comparable sales of 11% in the fourth quarter, benefiting from strong sales momentum as the team executes against its strategic priorities. At Burger King US, we saw sequential improvement in comparable sales in the first quarter of our Reclaim the Flame plan while driving further underlying improvements in operations across the system. On the Burger King International front, we once again delivered double-digit comparable sales with strong digital capabilities helping drive results. Popeyes delivered its strongest year of restaurant growth since we acquired the brand in 2017, reaching nearly 4,100 restaurants worldwide. Meanwhile Firehouse Subs wrapped up its first full year in the RBI family, making important progress to position the brand to accelerate development and digital growth in the years ahead," continued Cil.