Restaurants Brands International Swings To Profit, But Misses Estimates

Restaurant Brands International said it had net income of $182.9 million, or 24 cents per share, in the third quarter, after a loss of $23.5 million, or seven cents per share, for the same period last year. Adjusted earnings per share came to 34 cents per share, below the FactSet consensus of 38 cents. Revenue for the quarter totaled $1.02 billion compared to $1.11 billion in 2014 on a pro forma basis, versus the FactSet consensus of $1.37 billion. Restaurant Brands was formed in 2014 when Burger King Worldwide Inc. acquired Canada's Tim Hortons for $11 billion. Restaurant Brands shares are up 10.3% for the year so far. The S&P is up 0.6% for the same period.