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Restaurant Brands International LP Q2 profit climbs 81.0% YOY

Restaurant Brands International LP said its second-quarter normalized net income amounted to 26 cents per share, a gain of 39.3% from 19 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 $122.3 million, an increase of 81.0% from $67.6 million in the year-earlier period.

The normalized profit margin dropped to 12.0% from 25.9% in the year-earlier period.

Total revenue grew 298.7% on an annual basis to $1.04 billion from $261.2 million, and total operating expenses climbed 605.0% from the prior-year period to $701.5 million from $99.5 million.

Reported net income decreased 70.3% from the prior-year period to $22.3 million, or 5 cents per share, from $75.1 million, or 21 cents per share.