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Restaurant Brands International Inc. profit misses consensus by 52.0% in Q2

Restaurant Brands International Inc. said its normalized net income for the second quarter was 22 cents per share, compared with the S&P Capital IQ consensus estimate of 45 cents per share.

EPS declined year over year from 23 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $103.9 million, a decline from $106.1 million in the prior-year period.

The normalized profit margin declined to 9.2% from 10.2% in the year-earlier period.

Total revenue grew 8.9% year over year to $1.13 billion from $1.04 billion, and total operating expenses grew 7.2% from the prior-year period to $662.4 million from $618.1 million.

Reported net income decreased on an annual basis to $175.6 million, or 37 cents per share, from $179.2 million, or 38 cents per share.