(Toronto) The parent company of Tim Hortons and Burger King said fourth-quarter net profit was $336 million, up from $262 million a year earlier.
Restaurant Brands International (RBI) also announced that Chief Operating Officer Joshua Kobza will become Chief Executive Officer effective 1er March, replacing José Cil who will remain with the company for a year as an advisor and will help with the transition.
The company, which keeps its accounts in U.S. dollars, says its profit for the quarter ended Dec. 31 was 74 cents per diluted share, compared with earnings of 57 cents per diluted share in the last three months of 2021. .
Revenues totaled US$1.69 billion, compared to US$1.55 billion the previous year.
On an adjusted basis, RBI says it earned 72 cents per diluted share in its most recent quarter, down from adjusted earnings of 74 cents a year ago.
Analysts on average had expected earnings of 73 cents a share and $1.67 billion in revenue, according to financial markets data firm Refinitiv.
Companies in this story: (TSX: QSR)