$QSR
Restaurant Brands International Inc

2024 Q2 Form 10-Q Financial Statement

#000161875624000082 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $2.080B $1.739B $1.590B
YoY Change 17.18% 9.37% 9.58%
Cost Of Revenue $825.0M $606.0M $550.0M
YoY Change 34.8% 10.18% 11.34%
Gross Profit $1.255B $1.133B $1.040B
YoY Change 7.91% 8.94% 8.67%
Gross Profit Margin 60.34% 65.15% 65.41%
Selling, General & Admin $647.0M $608.0M $175.0M
YoY Change 9.85% 247.43% 31.58%
% of Gross Profit 51.55% 53.66% 16.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $59.00M $49.00M $46.00M
YoY Change 20.41% 6.52% -6.12%
% of Gross Profit 4.7% 4.32% 4.42%
Operating Expenses $651.0M $611.0M $175.0M
YoY Change 7.78% 249.14% 31.58%
Operating Profit $663.0M $522.0M $447.0M
YoY Change 18.6% 16.78% -0.67%
Interest Expense -$147.0M -$122.0M -$142.0M
YoY Change -5.16% -14.08% 11.81%
% of Operating Profit -22.17% -23.37% -31.77%
Other Income/Expense, Net
YoY Change
Pretax Income $484.0M $396.0M $305.0M
YoY Change 18.34% 29.84% -5.57%
Income Tax $85.00M $68.00M $28.00M
% Of Pretax Income 17.56% 17.17% 9.18%
Net Earnings $399.0M $230.0M $277.0M
YoY Change 65.56% -16.97% 2.59%
Net Earnings / Revenue 19.18% 13.23% 17.42%
Basic Earnings Per Share $0.89 $0.73 $0.61
Diluted Earnings Per Share $0.88 $0.50 $0.61
COMMON SHARES
Basic Shares Outstanding 316.4M shares 313.4M shares 307.9M shares
Diluted Shares Outstanding 453.0M shares 453.0M shares 456.0M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $942.0M $1.049B $1.033B
YoY Change -22.34% 1.55% 15.42%
Cash & Equivalents $942.0M $1.049B $1.033B
Short-Term Investments
Other Short-Term Assets $191.0M $121.0M $103.0M
YoY Change 14.37% 17.48% 14.44%
Inventory $160.0M $152.0M $145.0M
Prepaid Expenses
Receivables $737.0M $749.0M $612.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.030B $2.071B $1.893B
YoY Change -7.31% 9.4% 12.28%
LONG-TERM ASSETS
Property, Plant & Equipment $4.087B $3.070B $3.018B
YoY Change 33.96% 1.72% -4.49%
Goodwill $6.140B $5.702B $5.700B
YoY Change 6.38% 0.04% -5.79%
Intangibles $11.27B $10.97B $11.01B
YoY Change 1.31% -0.32% -3.89%
Long-Term Investments $132.0M $160.0M $152.0M
YoY Change -5.71% 5.26% -16.02%
Other Assets $1.326B $1.332B $827.0M
YoY Change 32.6% 61.06% 11.31%
Total Long-Term Assets $22.82B $21.07B $20.63B
YoY Change 8.96% 2.14% -3.97%
TOTAL ASSETS
Total Short-Term Assets $2.030B $2.071B $1.893B
Total Long-Term Assets $22.82B $21.07B $20.63B
Total Assets $24.85B $23.15B $22.53B
YoY Change 7.42% 2.75% -2.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $720.0M $734.0M $679.0M
YoY Change -2.04% 8.1% 6.59%
Accrued Expenses $593.0M $436.0M $415.0M
YoY Change 40.19% 5.06% 1.22%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $580.0M $110.0M $96.00M
YoY Change 339.39% 14.58% 35.21%
Total Short-Term Liabilities $2.617B $1.924B $1.882B
YoY Change 29.81% 2.23% 2.95%
LONG-TERM LIABILITIES
Long-Term Debt $13.09B $13.14B $12.82B
YoY Change -0.18% 2.49% -0.64%
Other Long-Term Liabilities $823.0M $1.937B $895.0M
YoY Change -58.77% 116.42% -47.01%
Total Long-Term Liabilities $13.92B $15.08B $13.72B
YoY Change -7.92% 9.92% -6.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.617B $1.924B $1.882B
Total Long-Term Liabilities $13.92B $15.08B $13.72B
Total Liabilities $19.90B $20.18B $18.22B
YoY Change -1.88% 10.77% -5.18%
SHAREHOLDERS EQUITY
Retained Earnings $1.734B $1.640B $1.134B
YoY Change 44.74% 44.62% 41.04%
Common Stock $2.138B $2.076B $2.157B
YoY Change -4.85% -3.76% 4.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.068B $2.969B $2.575B
YoY Change
Total Liabilities & Shareholders Equity $24.85B $23.15B $22.53B
YoY Change 7.42% 2.75% -2.79%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $399.0M $230.0M $277.0M
YoY Change 65.56% -16.97% 2.59%
Depreciation, Depletion And Amortization $59.00M $49.00M $46.00M
YoY Change 20.41% 6.52% -6.12%
Cash From Operating Activities $334.0M $148.0M $95.00M
YoY Change -14.8% 55.79% -59.4%
INVESTING ACTIVITIES
Capital Expenditures $43.00M $26.00M $18.00M
YoY Change 43.33% 44.44% 80.0%
Acquisitions $23.00M $0.00
YoY Change
Other Investing Activities -$485.0M -$5.000M $0.00
YoY Change -2304.55% -100.0%
Cash From Investing Activities -$528.0M -$31.00M $0.00
YoY Change 6500.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid $245.0M $243.0M
YoY Change 0.82% 0.83%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 91.00M -203.0M -$240.0M
YoY Change -143.75% -15.42% -43.66%
NET CHANGE
Cash From Operating Activities 334.0M 148.0M $95.00M
Cash From Investing Activities -528.0M -31.00M $0.00
Cash From Financing Activities 91.00M -203.0M -$240.0M
Net Change In Cash -103.0M -86.00M -$145.0M
YoY Change -158.52% -40.69% -24.48%
FREE CASH FLOW
Cash From Operating Activities $334.0M $148.0M $95.00M
Capital Expenditures $43.00M $26.00M $18.00M
Free Cash Flow $291.0M $122.0M $77.00M
YoY Change -19.61% 58.44% -65.63%

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CY2023Q1 us-gaap Revenues
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1590000000 usd
CY2024Q1 us-gaap Revenues
Revenues
1739000000 usd
CY2023Q1 us-gaap Revenues
Revenues
1590000000 usd
CY2024Q1 qsr Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
540000000 usd
CY2023Q1 qsr Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
505000000 usd
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
544000000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
447000000 usd
CY2024Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-148000000 usd
CY2023Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-142000000 usd
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
68000000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
28000000 usd
CY2024Q1 us-gaap Profit Loss
ProfitLoss
328000000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
277000000 usd
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001618756-24-000082-index-headers.html Edgar Link pending
0001618756-24-000082-index.html Edgar Link pending
0001618756-24-000082.txt Edgar Link pending
0001618756-24-000082-xbrl.zip Edgar Link pending
exhibit1088a-amendmenttoof.htm Edgar Link pending
exhibit1088b-separationagr.htm Edgar Link pending
exhibit1089a-employmentagr.htm Edgar Link pending
exhibit1089b-employmentagr.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
qsr-20240331.htm Edgar Link pending
qsr-20240331.xsd Edgar Link pending
qsr_2024331xex-311.htm Edgar Link pending
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qsr-20240331_lab.xml Edgar Link unprocessable
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qsr-20240331_htm.xml Edgar Link completed
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report.css Edgar Link pending
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qsr-20240331_cal.xml Edgar Link unprocessable
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