By Adriano Marchese
Restaurant Brands International's profit fell in the fourth quarter, despite higher sales across its major brands lifting revenue in the period.
The fast-food operator on Thursday posted a decline in net income to $113 million, or 60 cents a share, down from $259 million, or 79 cents a share, in the comparable quarter a year ago.
Adjusted earnings were 96 cents a share, coming in ahead of expectations of 95 cents a share, according to a poll on FactSet.
Total revenues rose to $2.47 billion from $2.3 billion, above consensus expectations of a rise to $2.41 billion.
Restaurant Brands, which owns the Burger King, Tim Hortons, Popeyes and Firehouse Subs banners, saw growth in all its segments except Popeyes.
Among its segments, Tim Hortons revenue rose nearly 11% to $1.14 billion, while Burger King rose 2.1% to $383 million. Firehouse Subs revenue advanced by 4.1% to $60 million. International also rose, climbing 11% to $263 million. Popeyes fell 2.7% to $196 million.
Its Restaurant Holdings segment, which includes the Carrols Burger King restaurants and the PLK China restaurants, rose 8% to $480 million.
System-wide sales growth rose at a faster rater in the quarter, up 5.8% compared with 5.6% a year earlier, taking system-wide sales to $12.13 billion, from $11.28 billion.
Comparable sales were also higher, rising 3.1% from a 2.5% rise a year ago.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
02-12-26 0748ET
