logo
Plus   Neg
Share
Email

Yum! Brands Q3 Profit Misses Estimates; Same-Store Sales Up 3%

Yum! Brands, Inc. (YUM) reported third-quarter earnings per share excluding special items of $0.80, a decrease of 23 percent from prior year. On average, 23 analysts polled by Thomson Reuters expected the company to report profit per share of $0.94, for the quarter. Analysts' estimates typically exclude special items. GAAP earnings per share was $0.81, a decline of 42 percent from prior year.

Third-quarter total revenues declined 4 percent to $1.34 billion. Analysts expected revenue of $1.34 billion, for the quarter. Worldwide system sales excluding foreign currency translation grew 8 percent, with KFC at 8 percent, Pizza Hut at 7 percent and Taco Bell at 7 percent. The company delivered same-store sale growth of 3 percent and net-new unit growth of 7 percent, led by continued strong performances at KFC International and Taco Bell.

For 2019, the company's 2019 adjusted EPS target is at least $3.75. Analysts expect the company to report profit per share of $3.86.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The European Commission said Friday that it has signed a deal with Sanofi and GlaxoSmithKline to secure up to 300 million doses of their potential COVID-19 vaccine. Acella Pharmaceuticals recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency, the U.S. Food and Drug Administration said in a statement. The company is recalling one lot of 15mg and one lot of 120mg of NP Thyroid that are packaged in 100 count bottles in strengths of 15 mg, and 120 mg, with expiration dates between October 2020 and November 2020. Walmart announced its decision to raise wages for around 165,000 hourly associates across all its U.S. stores starting October, and introduce a team-based operating model in Supercenters. In a tweet, the retail giant said, "Today we're introducing new leadership roles and cross-training opportunities, giving our associates more ways to grow their careers."
Follow RTT