In a February 14^th release, Restaurant Brands International Inc. (QSR) posted financial results for the 4^th quarter and fiscal 2022. Along with other QSRs and casual dining competitors, all are subject to the pressures of increased costs for food, packaging and labor in a competitive environment restrained by inflation impacting spending by consumers.

For the 4^th Quarter ending December 31^st 2022, net income was $229 million on total revenue of $1,689 million.  Comparable GAAP figures for the 4^th quarter of fiscal 2021 ending December 31^st were net income of $178 million on total revenue of $1,546 million. Diluted EPS rose from $0.51 for the 4^th quarter of fiscal 2021 to $0.74 for the most recent quarter.

For FY 2022, net income was $1,008 million on total revenue of $6,505 million.  Comparable GAAP figures for FY 2021 ending December 31^st were net income of $838 million on total revenue of $5,739 million. Diluted EPS rose from $2.16 for FY 2021 to $2.12 for the most recent quarter.

For FY 2022 system-wide sales increased by 13.4 percent compared to FY 2021. Net restaurant growth attained 4.3 percent

 Segment results comprised:-

Tim Horton’s: Systemwide revenue, $1,825 million; Adjusted EBITDA, $263 million; Comparable store sales increase, 9.4 percent with 5,600 stores

Burger King: Systemwide revenue $6,552 million; Adjusted EBITDA $246 million; Comparable store sales increase 8.4 percent with 19,789 stores

Popeye’s LA Kitchen: Systemwide revenue,  $1,513 million; Adjusted EBITDA, $63 million; Comparable store sales increase, 3.8 percent with 4,091 stores

Firehouse Subs: Revenue,  $301 million; Adjusted EBITDA, $16 million; Comparable store sales increase, 0.4 percent with 1,242 stores

José Cil, Chief Executive Officer of RBI commented, "We rounded out an exciting 2022 with another strong quarter, including nearly 8% consolidated comparable sales and 4% net restaurant growth, reflecting the strength of four iconic, global brands.

Cil continued “Tim Horton’s Canada capped off an impressive year with comparable sales of 11% in the fourth quarter, benefiting from strong sales momentum as the team executes against its strategic priorities. At Burger King U.S., we saw sequential improvement in comparable sales in the first quarter of our Reclaim the Flame plan while driving further underlying improvements in operations across the system. On the Burger King International front, we once again delivered double-digit comparable sales with strong digital capabilities helping drive results. Popeyes delivered its strongest year of restaurant growth since we acquired the brand in 2017, reaching nearly 4,100 restaurants worldwide. Meanwhile Firehouse Subs wrapped up its first full year in the RBI family, making important progress to position the brand to accelerate development and digital growth in the years ahead,".

Cil concluded "We are focused on being guest-led in everything we do, setting our franchisees up for long-term success and as a result, setting ourselves, and our shareholders, up for long-term value creation. I'd like to thank our employees, franchisees, and team members for all their hard work and dedication throughout 2022,".

The Company announced that Joshua Kobeza who has served previously in various executive positions will succeed Jose Cil as CEO effective March 1^st 2023.

 On December 31^st 2022, QSR posted assets of $22,746 million of which $17,706 million comprised goodwill, lease obligations and intangibles. The Company had an intraday market capitalization of $20,520 million on February 14^th. QSR trades with a forward P/E of 16.6 and has ranged over a 52-week period from $46.68 to $68.51 with a 50-day moving average of $66.33.  Twelve-month trailing operating margin was 31.8 percent and profit margin 15.1 percent.  Return on assets over the trailing twelve months was 5.6 percent and the return on equity 34.6 percent. At close of trading on February 13^th pre-release, QSR was priced at $68.51. Post-release on February 14^th QSR closed at at $66.61