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Restaurant Brands International Inc. profit misses consensus by 30.9% in Q1

Restaurant Brands International Inc. said its first-quarter normalized net income came to 24 cents per share, compared with the S&P Capital IQ consensus estimate of 35 cents per share.

EPS increased 18.6% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $114.9 million, a gain of 20.6% from $95.3 million in the prior-year period.

The normalized profit margin climbed to 11.5% from 10.4% in the year-earlier period.

Total revenue rose 8.9% year over year to $1.00 billion from $918.5 million, and total operating expenses climbed 10.3% on an annual basis to $622.4 million from $564.1 million.

Reported net income fell year over year to $98.7 million, or 21 cents per share, from $99.9 million, or 21 cents per share.