Restaurant Brands International says it earned US$86.3 million in its latest quarter, up from US$49.6 million in the same quarter last year.
The corporate parent of Tim Hortons and Burger King, which keeps its books in U.S. dollars, says the profit amounted to 36 cents per diluted share for the three months ended Sept. 30 compared with 24 cents per diluted share a year ago.
On an adjusted basis, Restaurant Brands says it earned $201.4 million or 43 cents per diluted share. That was up from an adjusted profit of $151.6 million or 32 cents per diluted share a year ago.
Revenue in what was the company’s third quarter grew to nearly $1.08 billion, up from nearly $1.02 billion in the same period last year.
Tim Hortons comparable sales grew 2.0%, while Burger King comparable sales increased 1.7% in constant currency.
Tim Hortons opened 28 net new restaurants in the quarter to end the period with 4,492 locations. Burger King added 143 net new restaurants to finish with 15,243.
