Restaurant Brands International Inc. , the company behind Tim Hortons, Burger King and Popeyes, reported its third-quarter profit rose compared with its year ago as its revenue climbed more than 10 per cent.
The company, which keeps its books in U.S. dollars, says it earned US$221-million in net income attributable to common shareholders or 70 cents per share for the quarter ended Sept. 30, up from US$145-million or 47 cents per share a year earlier.
Revenue totalled nearly US$1.5-billion, up from US$1.33-billion in the same quarter last year.
The increase came as comparable sales rose 8.9 per cent at Tim Hortons and 7.9 per cent at Burger King. Popeyes saw a drop in comparable sales of 2.4 per cent.
On an adjusted basis, Restaurant Brands says it earned 76 cents per diluted share in the quarter, up from 68 cents per diluted share a year ago.
Analysts on average had expected a profit of 74 cents per share, according to financial markets data firm Refinitiv.
Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.