Restaurant Brands International LP said its normalized net income for the first quarter amounted to 38 cents per share, an increase of 13.3% from 34 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $163.4 million, a gain of 12.6% from $145.2 million in the prior-year period.
The normalized profit margin climbed to 16.3% from 15.8% in the year-earlier period.
Total revenue grew 8.9% on an annual basis to $1.00 billion from $918.5 million, and total operating expenses grew 10.3% on an annual basis to $622.4 million from $564.1 million.
Reported net income declined from the prior-year period to $98.7 million, or 23 cents per share, from $99.9 million, or 23 cents per share.
