Restaurant Brands sees $3.2B in adjusted operating income by 2028

Restaurant Brands International Chief Executive Officer Josh Kobza provided guidance for investors that the company expects to achieve a minimum of 40,000 restaurants, $60B in system-wide sales and $3.2B in adjusted operating income by 2028 by delivering average annual results over the next five years of 3% plus comparable sales, 5% plus net restaurant growth and 8% plus system-wide sales growth translating to at least 8% adjusted operating income growth. Kobza also provided an update on the company’s capital allocation priorities. “We’re proud of the work our franchisees and their teams are doing to deliver quality food, excellent service and convenience to guests. Our four iconic brands have strong restaurant fundamentals and clear runways for growth. Our long-term investment horizon should result in compelling business performance and drive at least low double digit annual total shareholder returns over the next 5 years,” said Kobza. “When you add up the sum of the parts of our company, we have a pretty remarkable combination of growth drivers. The outlook we are sharing for growth is really the lowest average performance that we expect over the next five-years, with real upside potential from there,” added Executive Chairman Patrick Doyle.