Restaurant Brands International LP said its normalized net income for the first quarter amounted to 18 cents per share, an increase of 20.9% from 15 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $82.8 million, an increase of 57.2% from $52.6 million in the prior-year period.
The normalized profit margin declined to 8.8% from 21.8% in the year-earlier period.
Total revenue rose 286.9% year over year to $932.0 million from $240.9 million, and total operating expenses increased 541.4% from the prior-year period to $656.2 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 $60.4 million, or 17 cents per share, in the year-earlier period.
