Equity Profile

QSR

Restaurant Brands International Inc.

Consumer DiscretionaryRestaurants$26.7B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Restaurant Brands International Inc. (QSR) operates several well-known fast-food chains, including Burger King and Tim Hortons....

Key Metrics to Watch

Same-Store Sales Growth

This metric indicates how existing locations are performing and reflects consumer demand.

3.5%

Net New Restaurant Openings

The number of new locations opened can signal growth potential and market expansion.

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

QSR Q2-2026 Earnings Preview

Context

Company Snapshot

Restaurant Brands International Inc. (QSR) operates several well-known fast-food chains, including Burger King and Tim Hortons. As a major player in the consumer discretionary sector, its performance is closely tied to consumer spending trends and preferences in the restaurant industry.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+0.82%

Avg Stock Reaction

-2.25%

Last Quarter Recap

In Q1 2026, QSR reported an EPS of $0.86, exceeding estimates by 4.37%. However, the stock fell 5.47% the following day, indicating market skepticism despite the earnings beat.

Management Promises & Guidance

Focus on expanding digital ordering and delivery services.
Commitment to improving customer experience across all brands.
Plans to enhance menu offerings to attract a broader customer base.

Expectations

Wall Street Expectations

Investors are cautiously optimistic about QSR's upcoming earnings, particularly given the recent EPS beats. However, concerns about rising costs and competition in the fast-food sector linger.

Bull Case

If QSR can demonstrate strong same-store sales growth and effective cost management, it could lead to positive investor sentiment and stock appreciation.

Bear Case

Conversely, if the company fails to meet sales expectations or shows signs of margin pressure, it could result in a negative reaction from the market.

Key Metrics to Watch

Same-Store Sales Growth

3.5%

This metric indicates how existing locations are performing and reflects consumer demand.

Net New Restaurant Openings

The number of new locations opened can signal growth potential and market expansion.

Operating Margin

38%

A key indicator of profitability, showing how well the company manages its costs.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the same-store sales growth be for Q2 2026?

This figure will be crucial in assessing consumer demand and the effectiveness of recent marketing strategies.

How are rising costs impacting operating margins?

Understanding margin pressures will help investors gauge the company's ability to maintain profitability amid inflationary pressures.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of QSR's digital initiatives on sales growth. While many competitors struggle, QSR's investments in technology could lead to stronger performance than anticipated.

Supporting Evidence

Recent EPS beats suggest stronger operational execution than the market expects.

Options pricing indicates heightened volatility, which may reflect underlying confidence in upcoming results.

Historical trends show that QSR often outperforms when it comes to same-store sales in a recovering economy.

Key Risk

If same-store sales growth comes in below 2%, it could challenge the bullish narrative.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus is on how well QSR can navigate cost pressures while maintaining sales growth.

Bull Confirmed If

Same-store sales growth exceeding 4% would confirm strong consumer demand and effective management strategies.

Bear Confirmed If

Operating margins declining below 36% would signal potential profitability issues.

Pre-Earnings Positioning

Options Market

Implied Move

±3.81%

Historical Avg

±3.1%

Pricing rich

The options market is pricing in a move of approximately 3.81%, suggesting that investors expect some volatility around the earnings announcement.

Options are pricing ±3.8% while QSR has averaged ±3.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

26.3%

Calls (53K)P/C Ratio: 1.13Puts (7K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Consumer Discretionary

n=30

Fade rate: 8 of 21 (38%)

This setup has occurred 30 times across Consumer Discretionary in the last 2 years. 13 of 21 (62%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 4.9%, with a raw directional average of +2.2% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If QSR beats expectations and raises guidance, history suggests a potential stock increase of around 1.94% on the following day.

In-Line / Cautious

If results are in line but management expresses caution, the stock may see muted movement as investors reassess growth prospects.

Miss

A miss on earnings could lead to a decline of approximately 2.77%, reflecting disappointment in performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on digital ordering and delivery service performance.
2Details on cost management strategies and their effectiveness.
3Insights into customer feedback on new menu items.
4Any commentary on competitive pressures in the fast-food sector.
5Management's outlook on consumer spending trends.

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AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Restaurant Brands International Inc. (QSR) operates several well-known fast-food chains, including Burger King and Tim Hortons....

Key Metrics to Watch

Same-Store Sales Growth

This metric indicates how existing locations are performing and reflects consumer demand.

3.5%

Net New Restaurant Openings

The number of new locations opened can signal growth potential and market expansion.

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

QSR Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+0.82%

Avg Stock Reaction

-2.25%

Last Quarter Recap

In Q1 2026, QSR reported an EPS of $0.86, exceeding estimates by 4.37%. However, the stock fell 5.47% the following day, indicating market skepticism despite the earnings beat.

Management Promises & Guidance

Focus on expanding digital ordering and delivery services.
Commitment to improving customer experience across all brands.
Plans to enhance menu offerings to attract a broader customer base.

Expectations

Wall Street Expectations

Investors are cautiously optimistic about QSR's upcoming earnings, particularly given the recent EPS beats. However, concerns about rising costs and competition in the fast-food sector linger.

Bull Case

If QSR can demonstrate strong same-store sales growth and effective cost management, it could lead to positive investor sentiment and stock appreciation.

Bear Case

Conversely, if the company fails to meet sales expectations or shows signs of margin pressure, it could result in a negative reaction from the market.

Key Metrics to Watch

Same-Store Sales Growth

3.5%

This metric indicates how existing locations are performing and reflects consumer demand.

Net New Restaurant Openings

The number of new locations opened can signal growth potential and market expansion.

Operating Margin

38%

A key indicator of profitability, showing how well the company manages its costs.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the same-store sales growth be for Q2 2026?

This figure will be crucial in assessing consumer demand and the effectiveness of recent marketing strategies.

How are rising costs impacting operating margins?

Understanding margin pressures will help investors gauge the company's ability to maintain profitability amid inflationary pressures.

Edge

What the Street Is Missing

Why consensus could be wrong

Supporting Evidence

Recent EPS beats suggest stronger operational execution than the market expects.

Options pricing indicates heightened volatility, which may reflect underlying confidence in upcoming results.

Historical trends show that QSR often outperforms when it comes to same-store sales in a recovering economy.

Key Risk

If same-store sales growth comes in below 2%, it could challenge the bullish narrative.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus is on how well QSR can navigate cost pressures while maintaining sales growth.

Bull Confirmed If

Same-store sales growth exceeding 4% would confirm strong consumer demand and effective management strategies.

Bear Confirmed If

Operating margins declining below 36% would signal potential profitability issues.

Pre-Earnings Positioning

Options Market

Implied Move

±3.81%

Historical Avg

±3.1%

Pricing rich

The options market is pricing in a move of approximately 3.81%, suggesting that investors expect some volatility around the earnings announcement.

Options are pricing ±3.8% while QSR has averaged ±3.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

26.3%

Calls (53K)P/C Ratio: 1.13Puts (7K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Consumer Discretionary

n=30

Fade rate: 8 of 21 (38%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If QSR beats expectations and raises guidance, history suggests a potential stock increase of around 1.94% on the following day.

In-Line / Cautious

If results are in line but management expresses caution, the stock may see muted movement as investors reassess growth prospects.

Miss

A miss on earnings could lead to a decline of approximately 2.77%, reflecting disappointment in performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on digital ordering and delivery service performance.
2Details on cost management strategies and their effectiveness.
3Insights into customer feedback on new menu items.
4Any commentary on competitive pressures in the fast-food sector.
5Management's outlook on consumer spending trends.