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Restaurant Brands International Inc. profit beats consensus by 31.9% in Q1

Restaurant Brands International Inc. said its normalized net income for the first quarter was 20 cents per share, compared with the S&P Capital IQ consensus estimate of 15 cents per share.

EPS increased 36.5% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $93.5 million, a gain of 77.6% from $52.6 million in the year-earlier period.

The normalized profit margin declined to 9.9% from 21.8% in the year-earlier period.

Total revenue grew 286.9% year over year to $932.0 million from $240.9 million, and total operating expenses rose 546.2% on an annual basis to $661.1 million from $102.3 million.

Reported net income came to a loss of $18.8 million, or a loss of 4 cents per share, compared with income of $61.1 million, or 17 cents per share, in the year-earlier period.