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Restaurant Brands International LP Q2 profit falls YOY

Restaurant Brands International LP said its normalized net income for the second quarter came to 44 cents per share, a decrease from 45 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 $190.0 million, a decline from $194.4 million in the year-earlier period.

The normalized profit margin dropped to 16.8% from 18.7% in the year-earlier period.

Total revenue climbed 8.9% on an annual basis to $1.13 billion from $1.04 billion, and total operating expenses grew 7.2% on an annual basis to $662.4 million from $618.1 million.

Reported net income declined year over year to $175.6 million, or 41 cents per share, from $179.2 million, or 42 cents per share.