Equity Profile

QSR

Restaurant Brands International Inc.

Consumer DiscretionaryRestaurants$25.9B

May6Wed

Post-Earnings Recap

ReportedQ1-2026Pre-Market6:37 AM EDT

Restaurant Brands International Beats on EPS, Stock Down 5.5%

Metric	Actual	Expected	Surprise
EPS	$0.86	$0.83	+4.37%
Revenue	—	$2.2B	—

management commentary, guidance changes, and full analysis available with Pro.

Restaurant Brands International Beats on EPS, Stock Down 5.5%

Key Numbers

Metric	Actual	Expected	Surprise
EPS	$0.86	$0.83	+4.37%
Revenue	—	$2.2B	—

Management Commentary

Tone: Unknown

No transcript is on record for this earnings call, so the analysis is based solely on numerical results.

What It Means

Restaurant Brands International reported better-than-expected earnings per share, but did not disclose revenue figures. The stock reacted negatively, dropping 5.47%, likely due to the lack of revenue data and guidance, which may raise concerns among investors about future performance.

Company Snapshot

Restaurant Brands International Inc. (QSR) is a major player in the fast-food industry, operating well-known brands like Burger King and Tim Hortons....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well the company is managing costs and generating income.

$0.83

Revenue

Total revenue reflects the company's sales performance and is crucial for understanding growth trends in a competitive market.

$2.2B

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Restaurant Brands International Inc. (QSR) is a major player in the fast-food industry, operating well-known brands like Burger King and Tim Hortons. With a market cap of $28 billion, the company is influenced by consumer spending trends and the growing demand for quick-service dining options.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+0.82%

Avg Stock Reaction

-2.25%

Last Quarter Recap

In the last quarter, Q4-2025, QSR reported an EPS of $0.96, beating expectations slightly. However, the stock dropped 6.15% the following day, indicating market concerns despite the earnings beat.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect QSR to report earnings that meet or slightly exceed consensus estimates. The market is watching closely for any signs of growth or challenges in the competitive fast-food landscape.

Bull Case

If QSR can demonstrate strong same-store sales growth and effective cost management, it could lead to a positive surprise in earnings and revenue, boosting investor confidence.

Bear Case

Conversely, if the company reports lower-than-expected sales or rising costs, it may reinforce concerns about its ability to compete effectively, leading to a negative market reaction.

Key Metrics to Watch

EPS

$0.83

Earnings per share is a key indicator of profitability and will show how well the company is managing costs and generating income.

Revenue

$2.2B

Total revenue reflects the company's sales performance and is crucial for understanding growth trends in a competitive market.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the same-store sales growth rate this quarter?

This metric is crucial as it indicates how well QSR's brands are performing in a competitive environment and can significantly impact investor sentiment.

How is the company managing rising costs and supply chain challenges?

Given the current economic climate, insights into cost management strategies will be vital for assessing future profitability.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the impact of QSR's recent marketing campaigns and menu innovations, which could drive stronger sales than anticipated.

Supporting Evidence

Options pricing suggests a larger move than historical averages, indicating potential for surprise.

The company's recent initiatives to enhance customer experience may not be fully reflected in analyst estimates.

Key Risk

If same-store sales growth exceeds +5%, it could significantly shift market perceptions and expectations.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is particularly focused on how QSR is navigating challenges in the fast-food sector, including inflation and competition.

Bull Confirmed If

Same-store sales growth of +5% or better would confirm strong consumer demand and operational efficiency.

Bear Confirmed If

If same-store sales growth falls below +1%, it would raise concerns about the company's competitive position.

Pre-Earnings Positioning

Options Market

Implied Move

±4.42%

Historical Avg

±3.1%

Pricing rich

The options market is pricing in a significant move around the earnings report, suggesting that investors anticipate volatility based on the results.

Options are pricing ±5.4% while QSR has averaged ±3.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

23.3%

Calls (144K)P/C Ratio: 0.54Puts (120K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If QSR beats expectations, history suggests the stock could rise by around 2.8%, confirming a positive outlook for the company.

In-Line / Cautious

If results are in line with expectations, the stock may see a muted reaction, reflecting cautious sentiment among investors.

Miss

A miss could lead to a decline of approximately 2.8%, as seen in past quarters, further fueling concerns about the company's growth trajectory.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on same-store sales growth and performance across different brands.
2Insights into cost management strategies in light of rising inflation.
3Updates on any new product launches or marketing campaigns.
4Comments on competitive pressures and how QSR plans to address them.
5Management's outlook on future growth and market conditions.

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Company Snapshot

Restaurant Brands International Inc. (QSR) is a major player in the fast-food industry, operating well-known brands like Burger King and Tim Hortons....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well the company is managing costs and generating income.

$0.83

Revenue

Total revenue reflects the company's sales performance and is crucial for understanding growth trends in a competitive market.

$2.2B

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+0.82%

Avg Stock Reaction

-2.25%

Last Quarter Recap

In the last quarter, Q4-2025, QSR reported an EPS of $0.96, beating expectations slightly. However, the stock dropped 6.15% the following day, indicating market concerns despite the earnings beat.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect QSR to report earnings that meet or slightly exceed consensus estimates. The market is watching closely for any signs of growth or challenges in the competitive fast-food landscape.

Bull Case

If QSR can demonstrate strong same-store sales growth and effective cost management, it could lead to a positive surprise in earnings and revenue, boosting investor confidence.

Bear Case

Conversely, if the company reports lower-than-expected sales or rising costs, it may reinforce concerns about its ability to compete effectively, leading to a negative market reaction.

Key Metrics to Watch

EPS

$0.83

Earnings per share is a key indicator of profitability and will show how well the company is managing costs and generating income.

Revenue

$2.2B

Total revenue reflects the company's sales performance and is crucial for understanding growth trends in a competitive market.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the same-store sales growth rate this quarter?

This metric is crucial as it indicates how well QSR's brands are performing in a competitive environment and can significantly impact investor sentiment.

How is the company managing rising costs and supply chain challenges?

Given the current economic climate, insights into cost management strategies will be vital for assessing future profitability.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the impact of QSR's recent marketing campaigns and menu innovations, which could drive stronger sales than anticipated.

Supporting Evidence

Options pricing suggests a larger move than historical averages, indicating potential for surprise.

The company's recent initiatives to enhance customer experience may not be fully reflected in analyst estimates.

Key Risk

If same-store sales growth exceeds +5%, it could significantly shift market perceptions and expectations.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is particularly focused on how QSR is navigating challenges in the fast-food sector, including inflation and competition.

Bull Confirmed If

Same-store sales growth of +5% or better would confirm strong consumer demand and operational efficiency.

Bear Confirmed If

If same-store sales growth falls below +1%, it would raise concerns about the company's competitive position.

Pre-Earnings Positioning

Options Market

Implied Move

±4.42%

Historical Avg

±3.1%

Pricing rich

The options market is pricing in a significant move around the earnings report, suggesting that investors anticipate volatility based on the results.

Options are pricing ±5.4% while QSR has averaged ±3.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

23.3%

Calls (144K)P/C Ratio: 0.54Puts (120K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If QSR beats expectations, history suggests the stock could rise by around 2.8%, confirming a positive outlook for the company.

In-Line / Cautious

If results are in line with expectations, the stock may see a muted reaction, reflecting cautious sentiment among investors.

Miss

A miss could lead to a decline of approximately 2.8%, as seen in past quarters, further fueling concerns about the company's growth trajectory.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on same-store sales growth and performance across different brands.
2Insights into cost management strategies in light of rising inflation.
3Updates on any new product launches or marketing campaigns.
4Comments on competitive pressures and how QSR plans to address them.
5Management's outlook on future growth and market conditions.