Financial

Total revenues of $3.1 million compared to $5.9 million in the second quarter of 2019. Excluding advertising revenues, revenues were $2.5 million, down from $4.8 million in the second quarter of 2019.

Restaurant Brands International Inc. Second Quarter 2020 Revenues

Total restaurant revenue was $368.4 million compared to $365.7 million in the prior year quarter

Both Brands Generated Positive Adjusted EBITDA during Quarter – Company Generated Net Cash Provided by Operations of $24.5 Million during Quarter – Sequential Improvement in Comparable Restaurant Sales Trend Extended through July

Second quarter international comparable sales increase of 5.3%; Excluding temporary closures related to COVID-19, international comparable sales increase of 13.3%

Net sales for the second quarter of 2020 were $27,602,000, down from $62,229,000 reported in the second quarter of 2019.

Over the past several weeks, while some states have begun to re-tighten their dining room restrictions, the Company’s sales performance has continued to improve. Through July 28th, month-to-date comparable sales at Company-owned restaurants (open and closed) are down 47% year over year, with average weekly sales of $53,700 per open restauran

Average Weekly Sales show sequential improvement across both licensed and company-operated locations

Total revenues were $295.9 million in the second quarter of fiscal 2020 compared to $602.6 million in the second quarter of fiscal 2019. Net loss and diluted net loss per share were $56.5 million and $1.61, respectively, in the second quarter of fiscal 2020 reflecting the impact of COVID-19.

Applebee’s comparable same-restaurant sales improved 11 out of 13 weeks through the week ended June 28, 2020 from a decrease of 77.0% to a decrease of 17.8%, representing an increase of 59.2 percentage points during this period.