Earnings Update: Restaurant Brands International Inc. (NYSE:QSR) Just Reported Its Third-Quarter Results And Analysts Are Updating Their Forecasts

Last week, you might have seen that Restaurant Brands International Inc. (NYSE:QSR) released its third-quarter result to the market. The early response was not positive, with shares down 2.6% to US$65.69 in the past week. It was a workmanlike result, with revenues of US$2.4b coming in 2.5% ahead of expectations, and statutory earnings per share of US$0.96, in line with analyst appraisals. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

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Taking into account the latest results, the consensus forecast from Restaurant Brands International's 27 analysts is for revenues of US$9.70b in 2026. This reflects a credible 4.7% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to soar 38% to US$3.91. Before this earnings report, the analysts had been forecasting revenues of US$9.63b and earnings per share (EPS) of US$3.91 in 2026. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

View our latest analysis for Restaurant Brands International

There were no changes to revenue or earnings estimates or the price target of US$77.72, suggesting that the company has met expectations in its recent result. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. There are some variant perceptions on Restaurant Brands International, with the most bullish analyst valuing it at US$96.00 and the most bearish at US$65.00 per share. This shows there is still a bit of diversity in estimates, but analysts don't appear to be totally split on the stock as though it might be a success or failure situation.

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. It's pretty clear that there is an expectation that Restaurant Brands International's revenue growth will slow down substantially, with revenues to the end of 2026 expected to display 3.7% growth on an annualised basis. This is compared to a historical growth rate of 12% over the past five years. Compare this against other companies (with analyst forecasts) in the industry, which are in aggregate expected to see revenue growth of 10% annually. So it's pretty clear that, while revenue growth is expected to slow down, the wider industry is also expected to grow faster than Restaurant Brands International.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. On the plus side, there were no major changes to revenue estimates; although forecasts imply they will perform worse than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. At Simply Wall St, we have a full range of analyst estimates for Restaurant Brands International going out to 2027, and you can see them free on our platform here..

You should always think about risks though. Case in point, we've spotted 2 warning signs for Restaurant Brands International you should be aware of, and 1 of them can't be ignored.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.