(Toronto) Restaurant Brands International (RBI) on Tuesday posted net income attributable to common shareholders of US$183 million for its first quarter, up from US$179 million in the same period a year earlier.
Posted at 11:00 a.m.
The owner of Tim Hortons, Burger King, Popeyes and Firehouse Subs brands said its earnings per share reached 59 cents US for the quarter ended March 31, compared to 58 cents US for the same period last year.
RBI’s revenues totaled US$1.45 billion, up from US$1.26 billion a year earlier.
Sales at Tim Hortons coffee shops that have been open for at least a year soared 8.4%, while those at Burger King restaurants rose 10.3%. Same-store sales of Popeyes decreased 3.0% and Firehouse increased 4.2%.
On an adjusted basis, Restaurant Brands reported earnings of 64 cents per share in the most recent quarter, compared with earnings of 55 cents per share in the first quarter of last year.
Analysts on average had expected adjusted earnings per share of 61 cents US and revenue of US$1.39 billion, according to forecasts compiled by financial data firm Refinitiv.