Filing Flows › Restaurant Brands International (QSR) › Guidance history
Restaurant Brands International (QSR) guidance history: what it guided and what it reported
Restaurant Brands International gave guidance in 11 earnings releases on file since Apr 30, 2024.
Capital expenditures
The GAAP figure from the filings is shown for each period reported; it is not judged against the guide, which may leave items out (one-off payments, acquisitions).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2025 | $400M–$450M (Feb 12, 2025) | $265M (GAAP) | not judged | — |
| FY2024 | $300M (Aug 8, 2024) → reaffirmed $300M (Nov 5, 2024) | $201M (GAAP) | not judged | — |
Adjusted capital expenditures
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2024 | $300M (Apr 30, 2024) | — | — | — |
Adjusted interest expense
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $500M–$520M (Feb 12, 2026) → reaffirmed $500M–$520M (May 6, 2026) → reaffirmed $500M–$520M (Aug 6, 2026) → reaffirmed $500M–$520M (Oct 29, 2026) | — | to be reported | — |
| FY2025 | $500M–$520M (Feb 12, 2025) → reaffirmed $500M–$520M (May 8, 2025) → raised $520M (Aug 7, 2025) → reaffirmed $520M (Oct 30, 2025) | — | — | — |
| FY2024 | $555M–$565M (Apr 30, 2024) → raised $565M–$575M (Aug 8, 2024) → reaffirmed $565M–$575M (Nov 5, 2024) | — | — | — |
The latest quarter
Restaurant Brands International, Q3 2026: revenue $2.5B (+3% year over year), operating margin 27.6%, net earnings $542M, operating cash flow $551M. The chart follows the revenue to costs, profit and cash.
Questions
Does Restaurant Brands International beat its guidance?
Restaurant Brands International gave guidance in 11 earnings releases on file since Apr 30, 2024.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.