Yum! Brands Inc. (YUM) has reported earnings. The owner of KFC, Taco Bell, and Pizza Hut posted $0.63 EPS after a gain and $0.50 EPS outside of items and $2.48 billion in revenue. Thomson Reuters had estimates pegged at $0.43 EPS and $2.5 billion in revenue.
Currencies took off $0.03 from earnings per share. The company opened 328 stores in the last quarter, 118 of which were in Mainland China. The fast food and casual dining giant is still targeting 10% earnings growth to $2.10 EPS in 2010. Unfortunately, we have estimates at $2.12.
Some of the weak issues were in Thailand and Taiwan and that limited Asian growth. The company’s U.S. same store sales were down by 1% due to an 8% drop at Pizza Hut, and that is going to tally up the quarter as being weak because of the domestic side of the business.
Shares closed up 1.5% at $36.23 on an unofficial basis in regular trading today, and the reaction in the after-hours session has shares down 4% at $34.72 after the earnings report.
JON C. OGG
JULY 14, 2009
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