Restaurant Brands International Q2 profit down from a year ago
Tim Hortons parent company Restaurant Brands International Inc. reported its second-quarter profit fell compared with a year ago.
The company, which keeps its books in U.S. dollars, reported net income attributable to common shareholders of US$189 million or 57 cents US per diluted share for the quarter ended June 30.
The result was down from a profit of US$280 million or 88 cents US per diluted share in the same quarter last year.
On an adjusted basis, RBI says it earned 94 cents US per diluted share, up from an adjusted profit of 86 cents US per diluted share a year earlier.
READ: Tim Hortons parent company RBI reports US$361M Q4 profit, raises quarterly dividend
Revenue for the company, which also owns Burger King, Popeyes and Firehouse Subs, totalled US$2.41 billion for the quarter, up from US$2.08 billion.
RBI chief executive officer Josh Kobza says the company made progress in the quarter as sales trends improved for its two largest businesses, Tim Hortons and its international segment.
"We made great progress in the second quarter advancing our strategic priorities, with improved sales trends and strong execution led by our two largest businesses, Tim Hortons and International,” said Kobza in a release accompanying the results. “Across the system, we're seeing strong franchisee alignment, impactful marketing, and focused operational initiatives drive meaningful improvements in the guest experience. With positive momentum heading into the back half of the year, we remain confident in our ability to deliver 8%+ organic Adjusted Operating Income growth in 2025."
With additional files from RBI
