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Yum! Brands fiscal Q2 profit falls YOY

Yum! Brands Inc. said its normalized net income for the fiscal second quarter ended June 13 came to 62 cents per share, compared with the S&P Capital IQ consensus estimate of 63 cents per share.

EPS decreased year over year from 64 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $275.3 million, a decline of 5.0% from $289.8 million in the year-earlier period.

The normalized profit margin dropped to 8.7% from 9.0% in the year-earlier period.

Total revenue decreased on an annual basis to $3.10 billion from $3.20 billion, and total operating expenses fell year over year to $2.64 billion from $2.71 billion.

Reported net income declined 29.0% from the prior-year period to $235.8 million, or 53 cents per share, from $332.1 million, or 73 cents per share.