Restaurant Brands International (RBI) reported higher revenue for the fourth quarter and full year, supported by stronger royalty income from Burger King and Popeyes, while quarterly profit declined amid rising expenses.
Total revenue for the three months to 31 December 2025 was $2.46bn, a 7.4% increase from $2.29bn in the same period of 2024.
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For the full year, revenue was $9.43bn in 2025, compared with $8.40bn in 2024.
Net income from continuing operations for Q4 2025 fell to $274m from $361m a year earlier.
Full-year 2025 net income from continuing operations was $1.2bn, down from $1.45bn in 2024.
Diluted earnings per common share declined to $0.60 in Q4 2025 from $0.79 in the corresponding quarter of the previous year.
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By GlobalDataOperating costs and expenses, including advertising, franchise and property charges and other items, rose to $1.84bn for the quarter, up from $1.66bn in the prior year period.
RBI reported consolidated system-wide sales growth of 5.8% in the fourth quarter and 5.3% for 2025.
Consolidated comparable sales were up 3.1% in Q4, led by 6.1% at INTL, 2.8% at TH Canada and 2.6% at BK US.
The company said it achieved its 2025 targets for organic adjusted operating income growth and net leverage and returned $1.1bn of capital to shareholders in 2025 while investing for growth.
In Q4 2025, adjusted EBITDA rose to $772, compared with $688 in the same quarter a year earlier.
RBI CEO Josh Kobza said: “Our performance in 2025 reflects the progress we’ve made strengthening our brands and our system, driven by consistent execution from our teams and franchisees.
“By staying focused on the fundamentals, we delivered our third consecutive year of roughly 8% organic adjusted operating income growth. As we enter 2026, I’m encouraged by the stronger, more focused foundation we’ve built for the long term.”
