Restaurant Brands reports Q3 profit, revenue up from year ago
BNN Bloomberg
Restaurant Brands International Inc., the company behind Tim Hortons, Burger King and Popeyes, reported its third-quarter profit rose compared with its year ago as its revenue climbed more than 10 per cent.
TORONTO -- Restaurant Brands International Inc., the company behind Tim Hortons, Burger King and Popeyes, reported its third-quarter profit rose compared with its year ago as its revenue climbed more than 10 per cent.
The company, which keeps its books in U.S. dollars, says it earned US$221 million in net income attributable to common shareholders or 70 cents per share for the quarter ended Sept. 30, up from US$145 million or 47 cents per share a year earlier.
Revenue totalled nearly US$1.5 billion, up from US$1.33 billion in the same quarter last year.
The increase came as comparable sales rose 8.9 per cent at Tim Hortons and 7.9 per cent at Burger King. Popeyes saw a drop in comparable sales of 2.4 per cent.
On an adjusted basis, Restaurant Brands says it earned 76 cents per diluted share in the quarter, up from 68 cents per diluted share a year ago.
Analysts on average had expected a profit of 74 cents per share, according to financial markets data firm Refinitiv
