Yum! Brands, Inc. (NYSE:YUM) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.41%.
Yum! Brands, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 16.42% to $0.56 in the quarter versus EPS of $0.67 in the year-earlier quarter.
Revenue: Decreased 8.33% to $2.9 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Yum! Brands, Inc. reported adjusted EPS income of $0.56 per share. By that measure, the company beat the mean analyst estimate of $0.54. It missed the average revenue estimate of $2.93 billion.
Quoting Management: David C. Novak, Chairman and CEO, said, “Second-quarter EPS declined 16%, which was generally in line with our expectations. KFC sales and profits in China were significantly impacted by intense media surrounding Avian flu, as well as the residual effect of the December poultry supply incident. The good news is that China sales are recovering as expected. The extensive media surrounding Avian flu in China has subsided and same-store sales at KFC are clearly improving.”
Key Stats (on next page)…