Restaurant Brands International Inc. said its normalized net income for the fourth quarter was 26 cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.
EPS rose 22.8% year over year from 21 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $120.8 million, a gain of 21.8% from $99.1 million in the year-earlier period.
The normalized profit margin increased to 10.9% from 9.4% in the year-earlier period.
Total revenue grew 5.1% on an annual basis to $1.11 billion from $1.06 billion, and total operating expenses fell on an annual basis to $655.9 million from $677.9 million.
Reported net income increased 100.2% year over year to $233.2 million, or 50 cents per share, from $116.5 million, or 25 cents per share.
For the year, the company's normalized net income totaled 92 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.58.
EPS rose from 83 cents in the prior year.
Normalized net income was $431.9 million, a rise from $397.4 million in the prior year.
Full-year total revenue increased year over year to $4.15 billion from $4.05 billion, and total operating expenses declined on an annual basis to $2.48 billion from $2.66 billion.
The company said reported net income increased 187.8% year over year to $682.4 million, or $1.45 per share, in the full year, from $237.1 million, or 50 cents per share.
