Burger King US, , the global franchise brand, posted comparable sales growth of +5.8% in the first quarter of 2026, its strongest US performance in several years, as its franchise model and multi-year, “Reclaim the Flame” turnaround program continued to deliver results. Parent company Restaurant Brands International reported consolidated revenues of $2.26 billion and adjusted earnings per share of $0.86 for the quarter ended March 31, 2026.
Restaurant Brands International (NYSE: QSR) released its Q1 2026 results on May 6, 2026, reporting system-wide sales growth of 6.2% year-over-year across its four brands. Burger King’s US comparable sales result of +5.8% marked a sharp reversal from the same quarter in 2025, when the brand posted a -1.1% comparable sales figure.
RBI CEO Josh Kobza attributed Burger King’s performance to several years of operational investment. “At Burger King, our results reflect several years of hard work by our franchisees and teams to elevate the guest experience, driving stronger engagement and clear outperformance,” Kobza said in the earnings release.
Reclaim the Flame Investments Reach $189 Million of a $550 Million Commitment
Burger King’s turnaround is structured around a multi-year plan called “Reclaim the Flame,” which RBI announced with a total investment commitment of up to $700 million through year-end 2028. The plan is divided into two phases: advertising and digital investments, which were completed in 2024, and a second phase called the “Royal Reset,” covering high-quality remodels and relocations, restaurant technology, kitchen equipment, and building enhancements.
As of March 31, 2026, RBI had funded $189 million of the up to $550 million committed to the Royal Reset program. The Burger King segment reported adjusted operating income of $115 million in Q1 2026, compared to $103 million in the same quarter of 2025, an increase of 11.7% on an organic basis.
7,001 Burger King Restaurants Globally as Refranchising Continues
The Burger King system ended the first quarter with 7,001 restaurants worldwide, down slightly from 7,062 in Q1 2025, reflecting the ongoing refranchising of corporate-owned locations acquired through the 2024 Carrols Restaurant Group acquisition. RBI has stated its intent to refranchise the vast majority of those Carrols Burger King units, which are reported separately under the Restaurant Holdings segment.
BK system-wide sales reached $2.85 billion in Q1 2026, representing growth of 5.5% year-over-year. For the full RBI portfolio, consolidated comparable sales accelerated to 3.2% in Q1 2026, compared to 0.1% in the same period of 2025. RBI said it remains on track for 8%+ organic adjusted operating income growth for the full year 2026.
RBI Resumes Share Repurchases as Earnings Growth Accelerates
RBI’s Q1 2026 results also reflected a broader improvement in financial performance. Income from operations reached $606 million, up 39.3% from $435 million in Q1 2025. Adjusted EBITDA grew to $706 million from $642 million in the prior year period.
The company resumed share repurchases in March 2026, repurchasing 463,442 shares for $34 million during the quarter. RBI has said it expects to repurchase $500 million in shares over the course of 2026. The board also declared a dividend of $0.65 per share for the second quarter of 2026, payable July 7 to shareholders of record as of June 23.
Kobza told analysts that the company is executing against the plan laid out at its February 2026 Investor Day and expressed confidence in the path ahead: “We delivered a strong start to the year, converting solid topline results into double-digit earnings growth while returning capital to shareholders through the resumption of share repurchases and our growing dividend.”
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