Taco Bell owner Yum Brands earnings top estimates, despite blow of international Covid restrictions
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, despite international dining room closures weighing on same-store sales growth at KFC and Pizza Hut.
Shares of the company rose less than 1% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $1.15, adjusted, vs. $1.01 expected
- Revenue: $1.74 billion vs. $1.72 billion expected
Yum reported fiscal fourth-quarter net income of $332 million, or $1.08 per share, down from $488 million, or $1.58 per share, a year earlier.
Excluding items, the company earned $1.15 per share, beating the $1.01 per share expected by analysts surveyed by Refinitiv.
Net sales rose 3% to $1.74 billion, topping expectations of $1.72 billion.
