QSR

LONG

RESTAURANT BRANDS INTL INC

Funds

Score

6.00

vs SPY

-15.2%

Stock return (since Q-end)

+1.1%

SPY return (since Q-end)

+16.3%

Current price

$74.70

News Summary

Negative

QSR beat Q1 2026 earnings expectations with $0.86 EPS vs. $0.83 consensus and strong Burger King/International growth (5.8% and 5.7% same-store sales respectively), but significant weakness in Popeyes (-6.5% same-store sales, worst in years) and Tim Hortons (1.6% vs. 2.5% expected) caused 4.78% pre-market stock decline. Management maintains 8%+ organic AOI growth guidance for 2026, though elevated beef costs, consumer sentiment headwinds, and substantial insider selling (~$72M over 90 days) present material risks.

Red flags

•Popeyes same-store sales declined 6.5% — worst quarterly drop in years, significantly worse than 1.5% Wall Street estimate
•Tim Hortons underperformed estimates (1.6% vs. 2.5% expected) amid Canadian economic concerns
•Stock fell 4.78% in pre-market despite beating overall earnings, signaling investor concern over segment weakness
•Elevated beef costs expected to remain pressured longer than anticipated
•Significant insider selling: ~$72M net selling by CEO Kobza (~$17M) and CFO Siddiqui (~$7.7M) over 90 days
•Weakening consumer sentiment tied to macroeconomic and geopolitical factors
•Zacks lowered Q2 2026 EPS estimates on May 20, 2026

Funds Buying (4)

Fund	Manager	Shares Held	∆ Shares	Position Value	QoQ	Status
Pershing Square	Bill Ackman	22.6M	+22.6M	$1673.5B	—	NEW
Point72	Steve Cohen	246K	+246K	$18.2B	—	NEW
Baupost Group	Seth Klarman	8.1M	+8.1M	$597M	—	NEW
Duquesne Family Office	Stanley Druckenmiller	454K	+454K	$34M	—	NEW

Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter.