Tim Hortons’ parent company Restaurant Brands International Inc. reported a US$704 million profit in the third quarter, an increase from US$440 million in the previous year. This came to a diluted earnings per share of US$1.54, up from US$0.96 per share.
Its system-wide sales grew 6.2 per cent for the quarter ended Sept. 30, down from a 6.9 per cent growth in 2025. Comparable sales were also down to 3.8 per cent from four per cent the previous year.
“This marks our fifth consecutive quarter of same-store sales above three per cent, led by strong performances from Burger King United States and international , and a return to solid growth at Tim Hortons,” chief executive Josh Kobza said during Thursday’s earnings call.
In dollar amount, system-wide sales were US$12.97 billion, up from the prior year’s US$12.28 billion.
The parent company of Tim Hortons had total revenues of US$2.5 billion in the quarter, up from US$2.45 billion.
Total revenues for Tim Hortons were US$1.136 billion, a slight increase from US$1.125 billion. The company said this increase was driven by higher supply chain sales primarily due to increases in equipment sales to franchisees and commodity prices .
The iconic Canadian chain represents roughly 41 per cent of the parent company’s operating profit.
“Tim’s is performing well and delivering solid results in a tough consumer environment,” said Kobza.
The increase in revenues was also driven by an increase in system-wide sales to US$2.039 billion, from US$2.029 billion. The chain’s system-wide sales growth was two per cent in the third quarter, down from 4.8 per cent in the previous year.
The results reflect an unfavourable foreign exchange impact of $16 million, the company said. Excluding this impact, total revenues would have increased by $27 million.
Comparable sales at Tim Hortons were 1.5 per cent, down from 4.2 per cent, while Canadian same-store sales were 1.8 per cent, also down from 4.2 per cent.
While this is a decrease on a year-over-year comparison, Kobza said it was “an encouraging improvement” from the second quarter, when Tim Hortons comparable sales were down 0.1 per cent, down from 3.4 per cent and Canadian same-store sales were also down 0.1 per cent, down from 3.6 per cent.
Kobza said Tim Hortons’ strong marketing calendar drove growth across categories, as beverages continue to be an important growth driver, with cold beverages up nearly five per cent in the quarter.
He also noted Tim Hortons’ growing loyalty program as the chain announced several Canadian partnerships in the past months. It launched a loyalty partnership with Canadian Tire in September and also announced a partnership with WestJet launching next month.
• Email: dpaglinawan@postmedia.com