TORONTO – Restaurant Brands International Inc. reported its third-quarter profit grew compared with a year ago, as strong results at Burger King and Popeyes Louisiana Kitchen offset a challenging period at Tim Hortons.
The Toronto-based company, which keeps its books in U.S. dollars, reported a profit attributable to common shareholders of US$201 million or 75 cents per diluted share for the quarter ended Sept. 30, up from a profit attributable to common shareholders of $134 million or 53 cents per share a year ago.
On an adjusted basis, Restaurant Brands says it earned 72 cents per diluted share for the quarter, up from an adjusted profit of 63 cents per share in the same quarter last year.
The result matched the average analyst estimate compiled by financial markets data firm Refinitiv.
Revenue totalled $1.46 billion for the quarter, up from $1.38 billion.
Comparable sales were up 9.7 per cent at Popeyes and up 4.8 per cent at Burger King. Comparable sales at Tim Hortons fell 1.4 per cent.
This report by The Canadian Press was first published Oct. 28, 2019.
Companies in this story: (TSX:QSR)
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