HighGravityData

Restaurant Brands International — Oct 30, 2025 release

Fiscal 2025 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001618756-25-000297
Open on SEC.gov ↗
Showing in the filing
Reclaim the Flame investment (Fuel the Flame and Royal Reset)
“up to $700 million”
Period
FY2028
Measure
Company-defined measure
Source
Prose
All guidance in this release · 13
Organic Adjusted Operating Income growth for FY2025
“8%+”
Organic Adjusted Operating Income growth (lo… for the long term
“8%+”
Reclaim the Flame investment (Fuel the Flame… for FY2028
“up to $700 million”
Royal Reset investments planned
“up to $550 million”
Dividend for Q4 FY2025
“$0.62 per common share and partnership exchangeable unit”
Dividend per common share and partnership ex… for Q4 FY2025
“$0.62”
Segment G&A (excluding RH) for 2025 for FY2025
“between $600 million and $620 million”
RH Segment G&A for 2025 for FY2025
“approximately $100 million”
Adjusted Interest Expense, net for FY2025
“around $520 million”
Consolidated capital expenditures, tenant in… for FY2025
“around $400 million”
Total Capex and Cash Inducements for FY2025
“around $400 million”
Comparable Sales (long-term algorithm) for the long term
“3%+”
Net Restaurant Growth (long-term algorithm) for the long term
“5%+”
Exhibit 99.1 · the passage around this item
… earlier in the release
As such, results include intersegment Franchise and Property Revenues and Advertising Revenues and Other Services from the Carrols Burger King restaurants included in RH (as footnoted above). Burger King US Reclaim the Flame Burger King is executing its multi-year "Reclaim the Flame" plan to accelerate sales growth and drive franchisee profitability. This plan includes investing up to $700 million through year-end 2028, comprised of advertising and digital investments ("Fuel the Flame") and high-quality remodels and relocations, restaurant technology, kitchen equipment, and building enhancements ("Royal Reset"). The Fuel the Flame investments were completed in the fourth quarter ended December 31, 2024. As of September 30, 2025, we have funded $160 million out of up to $550 million planned toward the Royal Reset investments. Third Quarter 2025 Results The increase in Total Revenues was largely driven by an increase in Advertising Revenues and Other Services primarily due to higher advertising fund contributions from franchisees reflecting an increase in the contribution rate. The increase in Adjusted Operating Income was primarily due to the non-recurrence of $8 million of Fuel the Flame expenses incurred in the prior year period as well as a decrease in Segment G&A largely driven by lower compensation-related expenses. 4 PLK Segment Results Three Months Ended September 30, Nine Months Ended September 30, (in US$ millions, unaudited) 2025 2024 2025 2024 System-wide Sales Growth 0.7  % (0.6) % 0.0  % 4.6  % System-wide Sales $ 1,519  $ 1,509  $ 4,571  $ 4,581  Comparable Sal
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.