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YUM! Brands, Inc. Q2 2017, Allergan plc Q2 2017 Earnings Reported

YUM! Brands Q2 2017 earnings and Allergan Q2 2017 earnings were released before opening bell this morning. Yum posted adjusted earnings of 68 cents per share on $1.45 billion in sales, versus the consensus estimates of 61 cents per share and $1.42 billion. In last year’s second quarter, the fast food chain operator reported $1.51 billion in revenue and adjusted earnings of 56 cents per share.

On a non-GAAP basis, Allergan Q2 2017 earnings amounted to $4.02 per share on $4 billion in revenue, compared to the consensus estimates of $3.92 per share in earnings on $3.95 billion in revenue. In last year’s second quarter, the drug maker reported $3.7 billion in sales and $3.35 per share in non-GAAP earnings.

YUM! Brands Q2 2017 earnings

YUM! Brands Q2 2017 earnings
By Yum! Brands, Inc. [Public domain], via Wikimedia Commons
On a GAAP basis, YUM! Brands Q2 2017 earnings amounted to 58 cents per share, versus 64 cents per share last year.

Worldwide system sales increased 6% year over year, including a 7% gain for KFC and Taco Bell and a 2% increase for Pizza Hut. The company said worldwide same-store sales grew 2%, slightly beating the consensus of 1.8% growth. Same-store sales for KFC grew 3%, coming out ahead of the consensus at 3% growth. Same-store sales for Taco Bell jumped 4% year over year, although that missed the consensus of a 5.4% increase. Pizza Hut same-store sales declined 2% year over year.

Yum refranchised 244 restaurants during the quarter, of which 40 were KFC locations, 163 were Pizza Hut and 41 were Taco Bell. Refranchising proceeds totaled $136 million, the company recorded $19 million in refranchising gains under special items. The company’s franchise ownership mix stood at 94% at the end of the quarter.

After YUM! Brands Q2 2017 earnings were released, the company’s stock slumped 1.72%, falling to $75.30 in premarket trading.

Allergan Q2 2017 earnings

Allergan Q2 2017 earnings

Allergan’s second-quarter GAAP loss widened year over year, falling to $2.35 per share from $1.25 per share in the year-ago quarter. The drug maker said growth in its Botox and Juvederm collection drove the 9% sequential increase in revenues. Other contributors to its revenue growth were the addition of Alloderm and CoolSculpting and new products such as Vraylar, Namzaric and Viberzi.

Allergan increased its full-year revenue outlook and now projects about $15.85 billion in sales, versus the previous guidance of $15.8 billion. The drug maker expects adjusted earnings to be between $16.05 and $16.45 per share, up from its previous outlook of $15.85 to $16.35 per share.

After the Allergan Q2 2017 earnings were released, the drug maker’s stock fell 0.47% to $249 in premarket trades.