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Restaurant Brands International LP Q4 profit climbs 37.4% YOY

Restaurant Brands International LP said its normalized net income for the fourth quarter came to 52 cents per share, an increase of 47.6% from 36 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $225.3 million, a gain of 37.4% from $163.9 million in the prior-year period.

The normalized profit margin rose to 20.3% from 15.5% in the year-earlier period.

Total revenue rose 5.1% on an annual basis to $1.11 billion from $1.06 billion, and total operating expenses totaled $672.3 million, compared with $673.6 million in the year-earlier period.

Reported net income grew 100.2% from the prior-year period to $233.2 million, or 54 cents per share, from $116.5 million, or 25 cents per share.

For the year, the company's normalized net income totaled $1.76 per share, compared to EPS of $1.14 in the prior year.

Normalized net income was $758.4 million, an increase from $530.6 million in the prior year.

Full-year total revenue increased on an annual basis to $4.15 billion from $4.05 billion, and total operating expenses fell on an annual basis to $2.50 billion from $2.65 billion.

The company said reported net income increased 187.8% year over year to $682.4 million, or $1.59 per share, in the full year, from $237.1 million, or 51 cents per share.