Tim Hortons parent Restaurant Brands reports Q1 profit and revenue up from year ago

TORONTO –

Restaurant Brands International Inc. reported a first-quarter revenue of US$277 million, up from US$270 million a yr earlier, as its income additionally climbed greater.

The father or mother firm of Tim Hortons, which retains its books in U.S. {dollars}, says the revenue amounted to 61 cents per diluted share for the quarter ended March 31, up from 59 cents per diluted share in the identical quarter final yr.

Revenue totalled US$1.59 billion, up from US$1.45 billion within the first three months of 2022.

On an adjusted foundation, Restaurant Brands says it earned 75 cents per diluted share in its newest quarter, up from an adjusted revenue of 64 cents per diluted share in the identical quarter final yr.

Analysts on common had anticipated an adjusted revenue of 64 cents per share, in response to estimates compiled by monetary markets information agency Refinitiv.

In addition to Tim Hortons, Restaurant Brands consists of Burger King, Popeyes Louisiana Kitchen and Firehouse Subs.

This report by The Canadian Press was first printed May 2, 2023