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Restaurant Brands International Inc. Q2 profit climbs 62.2% YOY

Restaurant Brands International Inc. said its normalized net income for the second quarter amounted to 23 cents per share, compared with the S&P Capital IQ consensus estimate of 25 cents per share.

EPS rose 22.4% year over year from 19 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $109.6 million, an increase of 62.2% from $67.6 million in the prior-year period.

The normalized profit margin dropped to 10.7% from 25.9% in the year-earlier period.

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

Reported net income decreased 70.5% from the prior-year period to $22.3 million, or 5 cents per share, from $75.5 million, or 21 cents per share.