Restaurant Brands International Faces Sales Slump and Downgraded Targets
Restaurant Brands International Inc. (RBI) reported a 3.2% year-over-year increase in consolidated system-wide sales for Q3 2024, with global comparable sales up 0.3%. The company achieved a 6.1% organic growth in Adjusted Operating Income, driven by its five franchisor segments. Despite a slight decrease in income from operations, RBI remains on track to meet its 8% organic Adjusted Operating Income growth target for 2024. The company also completed acquisitions of Carrols Restaurant Group and Popeyes China, contributing to its new Restaurant Holdings segment.