In the first quarter of 2025, Restaurant Brands International, the parent company of Burger King, reported a modest consolidated comparable sales increase of 0.1%, or over 1% excluding the Leap Day impact, with net restaurant growth of 3.3%. This translated to system-wide sales growth of 2.8% and organic adjusted operating income growth of 2.6%. However, Burger King itself experienced a slower start to the year, with same-store sales declining by 1.1%, while competitors Wendy's, McDonald's, and Jack in the Box saw larger declines of 2.8%, 3.6%, and 4.4%, respectively. The Brazilian owner of Burger King reported a 52% reduction in its first-quarter loss. Meanwhile, Toast, Inc. posted strong first-quarter results, with GAAP net income of $56 million compared to a net loss of $83 million in the same period last year, and adjusted EBITDA rising to $133 million from $57 million. The company added over 6,000 net new locations, grew recurring gross profit streams by 7% year-over-year, and secured major enterprise deals, including its largest ever with Applebee’s, as well as a new agreement with Topgolf. Toast reported revenue of $1.34 billion and earnings per share of $0.09, though some analysts note its high valuation leaves little room for error in the coming quarter. Following the earnings release, Toast’s stock rallied by 7.1% in pre-market trading.