Restaurant Brands International reveals new segments & 2024 key dates

Thursday, December 14, 2023

Restaurant Brands International Inc., commonly known as RBI (listed on the TSX and NYSE under the symbol QSR, and on TSX as QSP), has recently announced a restructuring in its segment reporting approach. Moreover, RBI has outlined important dates for 2024, including a key investor meeting on February 15, 2024, and tentative dates for its 2024 earnings discussions.

New Segment Structure
Following hints given in Restaurant Brands International ‘s Q3 2023 earnings call, the company will now categorize its financial results into five distinct segments: Tim Hortons (TH), Burger King (BK), Popeyes Louisiana Kitchen (PLK), Firehouse Subs (FHS), and International (INTL). The TH, BK, PLK, and FHS segments will encompass operations in the U.S. and Canada, while INTL will consolidate results from operations outside these regions. This new segmentation mirrors RBI’s strategic management direction and will be implemented starting from the Q4 and full-year results for 2023.

RBI will also release a supplementary, non-audited report on January 8, 2024, detailing 11 quarters of historical data (from Q1 2021 to Q3 2023) for these five segments. This report aims to provide deeper insights into each segment’s performance without altering previously declared consolidated financial outcomes.

Queries regarding this segment reporting modification will be addressed by the company until January 19, 2024.

Investor Event: Insights from Leadership
A significant event scheduled for February 15, 2024, will feature Josh Kobza, CEO, and Patrick Doyle, Executive Chairman, discussing their perspectives and strategies for RBI. This session, commencing at 1:00 p.m. Eastern Time, marks roughly a year since both executives assumed their roles. Interested parties can access a live stream of the discussion on RBI’s investor relations webpage, with a replay available for 30 days post-event.

Earnings Report Schedule for 2024
RBI anticipates releasing its earnings reports on the following dates in 2024:

• February 13, 2024: For Q4 and the year ending December 31, 2023
• April 30, 2024: For the first quarter ending March 31, 2024
• August 8, 2024: For the second quarter ending June 30, 2024
• November 5, 2024: For the third quarter ending September 30, 2024

Details for conference calls related to these earnings will be provided separately as each date approaches.

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