RBI Q1 2026: BK China JV closes, comp sales jump 3.2%, tax rate drops to 7.9%

Filed May 6, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 8, 2025 · ~2 min read

Key Changes

• high

  Burger King US comparable sales surged 5.8% vs -1.3% prior year, a 7.1-point swing driven by Royal Reset investments. Popeyes US declined 6.5%, worsening from -4.0%, signaling brand-specific challenges.

  MD&A: Segment Performance verify on EDGAR →
• high

  BK China joint venture closed in January 2026 with CPE investing $350M for 83% stake. RBI deconsolidated the business, retained 17% equity stake and board seat, and resumed recognizing franchise royalties in INTL segment.

  MD&A: BK China JV verify on EDGAR →
• high

  Effective tax rate dropped to 7.9% from 26.9% due to discrete benefit from intra-group reorganization. Management expects additional $170M tax benefit in Q2 2026 from subsequent restructuring.

  MD&A: Tax Rate verify on EDGAR →