Equity Profile

QSR

Restaurant Brands International Inc.

Consumer DiscretionaryRestaurants$25.9B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Restaurant Brands International Inc. (QSR) is a global leader in the fast-food industry, owning popular brands like Burger King, Tim Hortons, and Popeyes....

Key Metrics to Watch

Same-Store Sales Growth

This metric indicates how existing locations are performing and is crucial for understanding customer demand.

3.5%

Earnings Per Share (EPS)

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

$0.90

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

QSR Q2-2026 Earnings Preview

Context

Company Snapshot

Restaurant Brands International Inc. (QSR) is a global leader in the fast-food industry, owning popular brands like Burger King, Tim Hortons, and Popeyes. As a major player in the consumer discretionary sector, its performance is closely tied to consumer spending trends and preferences in dining out.

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 Q1 2026, QSR reported an EPS of $0.86, beating estimates by 4.37%. However, the stock fell 5.47% the following day, indicating mixed market reactions.

Management Promises & Guidance

Focus on enhancing digital ordering and delivery services.
Commitment to expanding the Tim Hortons brand internationally.
Plans to improve operational efficiencies across all brands.

Expectations

Wall Street Expectations

Investors are cautiously optimistic about QSR's upcoming earnings, expecting steady growth in same-store sales and profitability. However, concerns remain about rising costs and competition in the fast-food sector.

Bull Case

If QSR reports strong same-store sales growth and maintains or improves its EPS, it could signal robust consumer demand and effective management strategies.

Bear Case

Conversely, if the company misses on EPS or same-store sales, it may raise concerns about its ability to compete and manage costs effectively.

Key Metrics to Watch

Same-Store Sales Growth

3.5%

This metric indicates how existing locations are performing and is crucial for understanding customer demand.

Earnings Per Share (EPS)

$0.90

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

New Store Openings

50 new stores

The number of new locations opened can signal growth potential and expansion strategies.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the same-store sales growth rate for Q2 2026?

This figure will provide insight into consumer demand and the effectiveness of marketing strategies.

How many new stores does QSR plan to open this year?

New store openings are crucial for growth and can indicate the company's confidence in its expansion strategy.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for same-store sales growth due to effective marketing and menu innovations that resonate with consumers.

Supporting Evidence

Recent trends show increased consumer spending in dining out, which could benefit QSR.

The company's focus on digital ordering may drive higher sales than anticipated.

The historical EPS beat rate of 63% suggests a higher likelihood of positive surprises.

Key Risk

If same-store sales growth comes in below 2%, it could undermine the bullish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is watching for signs of growth in a competitive environment, making these metrics critical for QSR's outlook.

Bull Confirmed If

Same-store sales growth of 4% or better would confirm strong consumer demand and operational success.

Bear Confirmed If

Same-store sales growth below 2% would raise concerns about competitive pressures and market share.

Pre-Earnings Positioning

Options Market

Implied Move

±3.8%

Historical Avg

±3.1%

Pricing rich

The options market is pricing in a potential move of about 3.8% following the earnings report, suggesting uncertainty among investors.

Options are pricing ±3.8% while QSR has averaged ±3.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

26.3%

Calls (53K)P/C Ratio: 1.13Puts (7K)

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 1.5% on the first day, confirming positive market sentiment.

In-Line / Cautious

A cautious in-line report may lead to muted reactions, as investors await further commentary on growth strategies.

Miss

If QSR misses expectations, the stock could drop by about 2.8%, reflecting investor disappointment and concerns about future performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on digital ordering and delivery performance.
2Details on international expansion plans for Tim Hortons.
3Insights into cost management strategies amid rising inflation.
4Any commentary on competitive pressures from other fast-food chains.
5Expectations for new product launches and marketing campaigns.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Restaurant Brands International Inc. (QSR) is a global leader in the fast-food industry, owning popular brands like Burger King, Tim Hortons, and Popeyes....

Key Metrics to Watch

Same-Store Sales Growth

This metric indicates how existing locations are performing and is crucial for understanding customer demand.

3.5%

Earnings Per Share (EPS)

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

$0.90

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

QSR Q2-2026 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 Q1 2026, QSR reported an EPS of $0.86, beating estimates by 4.37%. However, the stock fell 5.47% the following day, indicating mixed market reactions.

Management Promises & Guidance

Focus on enhancing digital ordering and delivery services.
Commitment to expanding the Tim Hortons brand internationally.
Plans to improve operational efficiencies across all brands.

Expectations

Wall Street Expectations

Bull Case

If QSR reports strong same-store sales growth and maintains or improves its EPS, it could signal robust consumer demand and effective management strategies.

Bear Case

Conversely, if the company misses on EPS or same-store sales, it may raise concerns about its ability to compete and manage costs effectively.

Key Metrics to Watch

Same-Store Sales Growth

3.5%

This metric indicates how existing locations are performing and is crucial for understanding customer demand.

Earnings Per Share (EPS)

$0.90

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

New Store Openings

50 new stores

The number of new locations opened can signal growth potential and expansion strategies.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the same-store sales growth rate for Q2 2026?

This figure will provide insight into consumer demand and the effectiveness of marketing strategies.

How many new stores does QSR plan to open this year?

New store openings are crucial for growth and can indicate the company's confidence in its expansion strategy.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for same-store sales growth due to effective marketing and menu innovations that resonate with consumers.

Supporting Evidence

Recent trends show increased consumer spending in dining out, which could benefit QSR.

The company's focus on digital ordering may drive higher sales than anticipated.

The historical EPS beat rate of 63% suggests a higher likelihood of positive surprises.

Key Risk

If same-store sales growth comes in below 2%, it could undermine the bullish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is watching for signs of growth in a competitive environment, making these metrics critical for QSR's outlook.

Bull Confirmed If

Same-store sales growth of 4% or better would confirm strong consumer demand and operational success.

Bear Confirmed If

Same-store sales growth below 2% would raise concerns about competitive pressures and market share.

Pre-Earnings Positioning

Options Market

Implied Move

±3.8%

Historical Avg

±3.1%

Pricing rich

The options market is pricing in a potential move of about 3.8% following the earnings report, suggesting uncertainty among investors.

Options are pricing ±3.8% while QSR has averaged ±3.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

26.3%

Calls (53K)P/C Ratio: 1.13Puts (7K)

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 1.5% on the first day, confirming positive market sentiment.

In-Line / Cautious

A cautious in-line report may lead to muted reactions, as investors await further commentary on growth strategies.

Miss

If QSR misses expectations, the stock could drop by about 2.8%, reflecting investor disappointment and concerns about future performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on digital ordering and delivery performance.
2Details on international expansion plans for Tim Hortons.
3Insights into cost management strategies amid rising inflation.
4Any commentary on competitive pressures from other fast-food chains.
5Expectations for new product launches and marketing campaigns.