Restaurant Brands International Inc. (NYSE:QSR) Q2 2023 Earnings Conference Call August 8, 2023 8:30 AM ET
Company Participants
Patrick Doyle - Executive Chairman
Josh Kobza - Chief Executive Officer
Matt Dunnigan - Chief Financial Officer
Kendall Peck - Head of Investor Relations
Conference Call Participants
Andrew Charles - TD Cowen
Brian Bittner - Oppenheimer
David Palmer - Evercore
Dennis Geiger - UBS
Brian Harbour - Morgan Stanley
Eric Gonzalez - KeyBanc
Chris Carril - RBC Capital Group
Sara Senatore - Bank of America
Brian Mullan - Piper Sandler
Joshua Long - Stephens
Jeffrey Bernstein - Barclays
Gregory Francfort - Guggenheim Securities
David Tarantino - Baird
John Zamparo - CIBC
Jim Sanderson - Northcoast Research
Operator
Good morning, and welcome to the Restaurant Brands International, Second Quarter 2023 Earnings Conference Call. [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 second quarter ended June 30, 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 EBITDA growth exclude the results from our franchise restaurants in Russia, as we did not generate any new profits from restaurants in Russia in 2022, and do not expect to generate any new profits in 2023.
And now, I'll turn the call over to Josh.
Josh Kobza
Good morning, everyone, and thank you for joining us on today's call to discuss our second quarter of 2023. Our franchisees and teams helped deliver another solid quarter with year-over-year consolidated system-wide sales growth of 14%, driven by 9.6% comparable sales and 4.1% net restaurant growth.