2024-02-13 13:18:02 ET
Restaurant Brands International Inc. (QSR)
Q4 2023 Earnings Conference Call
February 13, 2024 08:30AM ET
Company Participants
Kendall Peck - Head of Investor Relations
Joshua Kobza - Chief Executive Officer
Matthew Dunnigan - Chief Financial Officer
Patrick Doyle - Executive Chairman
Conference Call Participants
Brian Bittner - Oppenheimer & Co.
Danilo Gargiulo - Bernstein
John Ivankoe - JPMorgan Chase & Co.
David Palmer - Evercore ISI
Dennis Geiger - UBS
Andrew Charles - TD Cowen
Christopher Carril - RBC Capital Markets
Brian Harbour - Morgan Stanley
Sara Senatore - Bank of America Merrill Lynch
Brian Mullan - Piper Sandler & Co.
Lauren Silberman - Deutsche Bank
Eric Gonzalez - KeyBanc Capital Markets
John Zamparo - CIBC Capital Markets
Gregory Francfort - Guggenheim Partners
Jeffrey Bernstein - Barclays Capital
Andrew Strelzik - BMO Capital Markets
Jon Tower - Citigroup
James Sanderson - Northcoast Research
Jake Bartlett - Truist Securities
Presentation
Operator
Good morning, and welcome to the Restaurant Brands International Fourth Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.
I would now like to turn the conference over to Kendall Peck, RBI's Head of Investor Relations. Please go ahead.
Kendall Peck
Thank you, operator. Good morning, everyone, and welcome to Restaurant Brands International's earnings call for the fourth quarter and year ended December 31, 2023. As a reminder, a live broadcast of this call may be accessed on the Investor Relations webpage at rbi.com/investor and a recording will be available for replay.
Joining me on the call today are Restaurant Brands International's Executive Chairman, Patrick Doyle; CEO, Josh Kobza; and CFO, Matt Dunnigan.
Today's earnings call contains forward-looking statements, which are subject to various risks set forward in the press release issued this morning and in our SEC filings. In addition, this earnings call includes non-GAAP financial measures. Reconciliations of non-GAAP financial measures are included in the press release available on our website. During portions of the call today, we will be referencing franchisee profitability measures that are based on unaudited self-reported franchisee results.
In addition, the consolidated gross metrics discussed during the prepared remarks, including consolidated system-wide sales growth, comparable sales, net restaurant growth and organic adjusted operating income growth exclude results from our franchised restaurants in Russia, as we did not generate any new profits from restaurants in Russia in 2022 or 2023.
As a reminder, our Tim Hortons, Burger King, Popeyes, and Firehouse Subs segments include results from each brand's restaurants in the U.S. and Canada, while our International segment represents consolidated results from all four brands outside of the U.S. and Canada.
Finally, this morning we published updated trending schedules and provided restaurant counts by brands and market. Both documents can be found on our Investor Relations webpage under financial information.
And now I'll turn the call over to Josh.
Joshua Kobza
Good morning, everyone, and thank you for joining us today. With our Investor Event coming up in New York on Thursday, I plan to use today's call to focus on Q4 and 2023 performance, and then we'll use Thursday's event to give a longer term outlook on the business, including sharing for the first time long-term guidance....
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Restaurant Brands International Inc. (QSR) Q4 2023 Earnings Call Transcript