Restaurant Brands International is one of the largest restaurant companies in the world, with approximately $43 billion in 2023 systemwide sales across a footprint that spanned more than 31,000 restaurants and more than 100 countries. The firm generates revenue primarily from retail sales at its company-owned restaurants, royalty fees and lease income from franchised stores, and from its Tim Hortons supply chain operations. Formed in 2014 after 3G Capital’s acquisition of Tim Hortons International, the Restaurant Brands portfolio is split between Burger King (7,144 units), Tim Hortons (4,525 units), Popeyes Louisiana Kitchen (3,394 units), Firehouse Subs (1,265 units) and international franchise units of those banners (14,742) as of year-end 2023.

Value stocks -- a market segment that includes high-yield stocks -- outperformed growth stocks in 2022. That's a recent rarity, as for the past decade-plus, the performance record has favored growth. But the tide turned in 2022. The rollout of COVID-19 vaccines gave a lift to some of the cyclical companies (energy and regional banks) that had lagged in recent quarters, and value stocks outpaced growth stocks that year. While growth stocks have retaken the lead since 2023, the Federal Reserve continues to keep interest rates high to fend off inflation. This could possibly cap multiple expansion for growth companies in coming quarters. In any event, the value sector is the place to achieve income.

Restaurant Brands International Inc. was created in 2014 when 3G Capital, a Brazilian private equity firm, backed Burger King's $11.4 billion acquisition of Tim Hortons. 3G Capital owns more than 41% of Restaurant Brands International's common stock. QSR consists of Burger King (the world's second-largest quick-service restaurant chain), Tim Hortons (Canada's second-largest chain), and Popeye's Louisiana Kitchen, which it acquired in March 2017. In December 2021, Restaurant Brands acquired Firehouse Subs, a national fast-food chain with more than 1,200 locations. The company has more than 30,000 restaurants worldwide. Franchisees own 99% of these restaurants. About 44% of revenue comes from international markets.

Stocks bounced back on Wednesday from yesterday's inflation fueled sell-off. Chicago Fed President Goolsbee noted that 'Even if inflation comes in a bit higher for a few months...it would still be consistent with our path back to target.' The Dow was up 0.1%, the S&P rose 0.4%, and the Nasdaq gained 0.7%. Crude oil fell slightly to $77.50 per barrel, while gold fell $2 to $2005 per ounce.