---
schema_version: "secwatch.filing_event.v1"
accession: "0001618755-23-000050"
form_type: "8-K"
ticker: "RSTRF"
cik: "0001618755"
company_name: "Restaurant Brands International Limited Partnership"
filed_at: "2023-11-03T23:59:59+00:00"
generated_at: "2026-06-08T22:28:01.024066+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# RBI Q3 net income $364M vs $530M YoY; adjusted EPS $0.90 down 5.6%

## Summary
- Net income $364M ($0.79 diluted EPS) vs $530M ($1.17) prior year; adjusted diluted EPS $0.90 vs $0.96.
- Consolidated comparable sales +7.0% driven by TH Canada +8.1%, BK International +7.6%, BK US +6.6%.
- System-wide sales grew 10.9% to $11.2B; adjusted EBITDA $698M +9.3% organically.
- Returned over $360M to shareholders in Q3; net debt $12.07B, adjusted EBITDA net leverage 4.8x.
- Segment adjusted EBITDA: TH $311M, BK $298M, PLK $75M, FHS $14M.

## SEC filing metadata
- accession: 0001618755-23-000050
- form_type: 8-K
- ticker: RSTRF
- cik: 0001618755
- company_name: Restaurant Brands International Limited Partnership
- filed_at: 2023-11-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1618755/000161875523000050/0001618755-23-000050-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1618755/000161875523000050/qsr-20231103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001618755-23-000050
- JSON: https://secwatch.observer/filing/0001618755-23-000050.json
- Plain text: https://secwatch.observer/filing/0001618755-23-000050.txt

## Key facts
- Earnings Releases
  Restaurant Brands International Limited Partnership reported the third quarter ended September 30, 2023 results: revenue $ 1,837, net income $ 364, EPS $ 0.79.
  - Period: the third quarter ended September 30, 2023
  - Revenue: $ 1,837
  - Net income: $ 364
  - EPS: $ 0.79
  - Result: reported results
  source text: comparable sales calculation. 2 Consolidated Financial Highlights Three Months Ended September 30, (in US$ millions, except per share data) 2023 2022 (Unaudited) Total Revenues $ 1,837 $ 1,726 Net Income $ 364 $ 530 Diluted Earnings per Share $ 0.79 $ 1.17 TH Adjusted EBITDA (1) $ 311 $ 305 BK Adjusted EBITDA (1) $ 298 $ 262 PLK Adjusted EBITDA (1) $ 75 $ 62 FHS
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618755/000161875523000050/0001618755-23-000050-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.