TORONTO — Tim Hortons parent company Restaurant Brands International Inc. reported its first-quarter profit fell compared with year ago.
The company, which keeps its books in U.S. dollars, reported net income attributable to common shareholders of US$159 million or 49 cents US per diluted share for the quarter ended March 31.
The result was down from a profit of US$230 million or 72 cents US per diluted share in the same quarter last year.
On an adjusted basis, RBI says it earned 75 cents US per diluted share, up from an adjusted profit of 73 cents US per diluted share a year earlier.
Revenue for the company which also owns Burger King, Popeyes and Firehouse Subs totalled US$2.11 billion for the quarter, up from US$1.74 billion.
Comparable sales at Tim Hortons dipped 0.1 per cent in the quarter, while Burger King comparable sales were down 1.3 per cent.
RBI chief executive Josh Kobza says the company is making solid progress executing the fundamentals of its business, despite a slower start to the year.
"We have clear growth plans across each of our brands and strong alignment with our franchisees," said Kobza in a statement.
He added the company is on track to "deliver stronger results through the balance of the year and achieve at least eight per cent adjusted income growth in 2025."
This report by The Canadian Press was first published May 8, 2025.
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