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Yum! Brands Q2 profit falls YOY

Yum! Brands Inc. said its normalized net income for the second quarter was 57 cents per share, compared with the S&P Capital IQ consensus estimate of 61 cents per share.

EPS rose 15.2% year over year from 49 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $203.8 million, compared with $205.0 million in the prior-year period.

The normalized profit margin increased to 14.1% from 13.6% in the year-earlier period.

Total revenue decreased on an annual basis to $1.45 billion from $1.51 billion, and total operating expenses fell 10.2% from the prior-year period to $1.02 billion from $1.14 billion.

Reported net income decreased 21.8% on an annual basis to $207.6 million, or 58 cents per share, from $265.6 million, or 64 cents per share.