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Restaurant Brands International Inc. profit misses consensus by 43.3% in Q3

Restaurant Brands International Inc. said its third-quarter normalized net income amounted to 28 cents per share, compared with the S&P Capital IQ consensus estimate of 49 cents per share.

EPS climbed 19.6% year over year from 23 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $133.5 million, an increase of 21.6% from $109.8 million in the prior-year period.

The normalized profit margin rose to 11.0% from 10.2% in the year-earlier period.

Total revenue climbed 12.4% on an annual basis to $1.21 billion from $1.08 billion, and total operating expenses increased 9.2% on an annual basis to $704.8 million from $645.6 million.

Reported net income rose 5.2% from the prior-year period to $179.0 million, or 37 cents per share, from $170.1 million, or 36 cents per share.