Restaurant Brands International Inc. says earnings rose in the second quarter. (Photo by THE CANADIAN PRESS)

Restaurant Brands reports US$257M Q2 profit, beats expectations as sales rise

TORONTO — Restaurant Brands International Inc., the owner of Tim Hortons, Burger King and Popeyes restaurants, says earnings rose in the second quarter to beat expectations as global sales across its brands grew eight per cent.

The company, which reports in US dollars, says it had net income of $257 million, or 55 cents per share, in the quarter ending June 30, compared with earnings of $313 million, or 66 cents per share, last year.

Adjusted net income came in at $331 million, or 71 cents per share, compared with earnings of $313 million or 66 cents per share last year.

Analysts had expected adjusted earnings of $296 million, or 65 cents per share, according to financial markets data firm Refinitiv.

The company’s revenue of $1.4 billion for the quarter was largely in line with expectations of $1.383 billion, and were up from $1.343 billion in the same quarter last year.

Restaurant Brands continues to expand internationally including with new partnerships for Popeyes in China and Spain, and Tim Hortons in Thailand.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Red Deer city councillor fears more vacant office space in the downtown

Frank Wong opposes more office/commercial space in Riverside Light Industrial Park

Central Alberta women’s shelter expansion gets initial rezoning approval from Red Deer city council

Some questions remain about the suitability of the site, which borders a creek

Central Alberta Pride Society celebrates Calgary’s conversion therapy ban

Central Alberta Pride Society celebrates Calgary city council’s ban of conversion therapy… Continue reading

VIDEO: Procession to honour Snowbirds Capt. Jennifer Casey comes to Halifax

Snowbirds service member died in a crash in Kamloops one week ago

Alberta government website has latest COVID-19 statistics

Red Deer Advocate readers can stay up to date on the COVID-19… Continue reading

David Marsden: Jason Kenney is all hat, no cattle

There are few character failings more unappealing than those of people who… Continue reading

Salmon expected to begin arriving soon at Fraser River landslide: DFO

Salmon expected to begin arriving soon at Fraser River landslide: DFO

Canadian Judicial Council won’t appeal harsh ruling of its investigation of judge

Canadian Judicial Council won’t appeal harsh ruling of its investigation of judge

Guy Laliberte wants to buy back Cirque du soleil, keep headquarters in Montreal

Guy Laliberte wants to buy back Cirque du soleil, keep headquarters in Montreal

Liberals, NDP work on sick leave to secure deal on future of Parliament

Liberals, NDP work on sick leave to secure deal on future of Parliament

Branson’s Virgin Orbit fails on first rocket launch attempt

Branson’s Virgin Orbit fails on first rocket launch attempt

In Bolsonaro’s Brazil, everyone else is to blame for virus

In Bolsonaro’s Brazil, everyone else is to blame for virus

Most Read