By Adriano Marchese
Restaurant Brands International's profit fell in the first quarter as growth at its major brands, Tim Hortons and Burger King, hit snags in the period.
The Canadian-American fast-food operator, which houses the Tim Hortons and Burger King brands, posted net income from continuing operations of $223 million, or 49 cents a share, down from $328 million, or 72 cents a share, in the comparable quarter a year ago.
Adjusted earnings were 75 cents a share. According to FactSet, analysts were expecting 80 cents a share.
Total revenues rose to $2.11 billion from $1.74 billion, but shy of analyst expectations of a greater rise to $2.2 billion. Comparable sales growth halted to a crawl, rising 0.1% in the quarter compared with a growth or 4.6% a year earlier.
Tim Hortons' comparable sales growth declined 0.1% in the quarter, while Burger King saw a 1.3% decline. System-wide sales growth was flat for Tim Hortons, and contracted by 1.7% for Burger King.
Total system-wide sales growth was 2.8%, down from, 8.1%, with system-wide sales falling slightly to $10.5 billion from $10.51 billion.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
05-08-25 0851ET
