Restaurant Brands International Inc. (NYSE:QSR) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 08:30 am ET

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Restaurant Brands International Inc. (NYSE:QSR) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good morning, and welcome to the Restaurant Brands International Second Quarter 2020 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Chris Brigleb, Restaurant Brands International's Head of Investor Relations. Please go ahead.

Executive
Chris Brigleb

Thank you, operator. Good morning, everyone, and welcome to Restaurant Brands International's earnings call for the second quarter ended June 30, 2020. As a reminder, a live broadcast of this call may be accessed through the Investor Relations web page at investor.rbi.com, and a recording will be available for replay. Joining me on the call today are Restaurant Brands International's CEO, Jose Cil; COO, Josh Kobza; and CFO, Matt Dunnigan. Today's earnings call contains forward-looking statements, which are subject to various risks set forth 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. Let's quickly review the agenda for today's call. Jose will start with some opening remarks on our company's response to an ongoing recovery from the COVID-19 pandemic. He will then discuss our results for the second quarter and provide detail around our performance at Tim Hortons, Burger King and Popeyes. Josh will then provide an update on technology at RBI, and to conclude, Matt will review our financial results before opening the call up for Q&A. I'd now like to turn the call over to Jose.

Executive
Jose E. Cil

Thanks, Chris, and good morning, everyone. Thank you for joining us on today's call. I hope everyone is doing well and staying safe. In the second quarter, our global response to the COVID-19 pandemic remain the focal point. We operate in over 100 countries and territories around the world, and this crisis has impacted everyone. Our response has involved a huge coordinated effort across all regions, and by leveraging our platform's key points of differentiation, we've been able to drive a significant recovery in our performance. We've come a long way since March, and the rebound we've seen, highlights the resilience of our business model, which can perform well both in good times and in more uncertain times. At its core are our three iconic brands, which are among the most recognized and loved restaurant brands in the world: Burger King, Tim Hortons and Popeyes are all leaders in their respective categories and offer a combination of high-quality craveable food and convenience that you can match.

They also offer familiarity and comfort as well as great value, characteristics, we've seen consumers gravitate towards in more trying times like those we face today. During the pandemic, the strength of our off-premise service modes has been another key differentiator with guests that recognize the added safety and convenience of our drive-thru and delivery channels. And by moving quickly to adjust our restaurant operations and marketing to underscore the strength of off-premise, we've helped drive a significant recovery in sales since the