Yum Brands tops earnings estimates as sales rebound at Taco Bell, KFC and Pizza Hut

Finance

In this article

Signage is displayed outside a Yum! Brands Inc. Taco Bell and Kentucky Fried Chicken (KFC) restaurant in Louisville, Kentucky, U.S., on Thursday, Jan. 30, 2020.
Luke Sharrett | Bloomberg | Getty Images

Yum Brands on Thursday reported quarterly earnings and revenue that topped analyst predictions as same-store sales grew at all of its major brands.

Shares of Yum rose more than 2% in premarket trading.

Here’s how the company did for its second quarter ended June 30 compared with what analysts surveyed by Refinitiv were anticipating:

  • Earnings per share: $1.16 vs. 96 cents expected
  • Revenue: $1.6 billion vs. $1.48 billion expected

During its second quarter, the company reported a net income of $391 million, or $1.29 per share, compared with $206 million, or 67 cents per share, from a year earlier.

Excluding refranchising gains and other items, Yum earned $1.16 per share, beating the 96 cents per share expected by analysts surveyed by Refinitiv.

The company’s revenue grew 34% from last year to $1.6 billion, compared with the expected revenue of $1.48 billion.

The company’s worldwide same-store sales grew 23% in the quarter.

Articles You May Like

Pound Sterling gains as investors shrug off increased BoE dovish bets
Market Chaos Unfolds Despite Widely Expected Fed Hawkish Cut
Sterling Holds Firm on Strong Wages Growth, GBP/CHF Upside Breakout
Pound Sterling advances as BoE interest-rate decision looms
Canadian Dollar Weakens on CPI; Dollar Firm After Retail Sales

Leave a Reply

Your email address will not be published. Required fields are marked *