Tim Hortons parent company Restaurant Brands Q2 profit and revenue up from year ago

By The Canadian Press on August 8, 2024.

TORONTO – Restaurant Brands International Inc. reported its second-quarter profit and revenue rose compared with a year ago.

The parent company of Tim Hortons and other restaurants, which keeps its books in U.S. dollars, says its net income totalled US$399 million or 88 cents US per diluted share in its latest quarter.

The result was up from net income of US$351 million or 77 cents US per diluted share a year earlier.

Revenue for the quarter ended June 30 totalled US$2.08 billion, up from US$1.78 billion in the same quarter last year, while consolidated comparable sales rose 1.9 per cent.

On an adjusted basis, the company says it earned 86 cents US per diluted share in its latest quarter, up from an adjusted profit of 85 cents US per diluted share a year ago.

In addition to Tim Hortons, Restaurant Brands owns Burger King, Popeyes and Fire House Subs.

This report by The Canadian Press was first published Aug. 8, 2024.

Companies in this story: (TSX:QSR)

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