By Adriano Marchese
Burger King-owner Restaurant Brands International reported sharply higher profit and rising revenue in the latest quarter, supported by continued sales growth at its Tim Hortons and Burger King chains.
The fast food holding company, which also houses the Popeyes and Firehouse Subs brands, posted net income of $338 million, or 97 cents a share, up from $159 million, or 39 cents a share, in the comparable quarter a year ago.
Adjusted earnings were 86 cents a share. According to FactSet, analysts were expecting 83 cents a share.
Total revenues rose to $2.26 billion from $2.11 billion. As a franchiser, Restaurant Brands makes most of its money from franchisees rather than from running restaurants itself. System-wide sales growth, which measures how much money all the restaurants in the network are generating, rose by 6.2% to $11.51 billion.
Comparable sales were higher as well, up by 3.2%.
Among its brands, Tim Hortons saw 2.4% growth in comparable sales, while Burger King jumped by 5.8%. Popeyes brands saw a 6.5% decline and Firehouse Subs fell 0.5%.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
05-06-26 0711ET
