[ad_1]
Yum Brands Inc.
YUM, + 1.12%
Shares rose 3% Wednesday in pre-market trading, after the foodservice company reported third-quarter results and sales ahead of expectations. The company, whose brands include Taco Bell, Pizza Hut and KFC, reported third-quarter net income of $ 454 million, or $ 1.40 per share, versus $ 418 million or $ 1.18 per share in the same period. 39, last year. Adjusted EPS was $ 1.04. Revenues totaled $ 1.39 billion, up from $ 1.44 billion the year before. The FactSet consensus forecast 84 cents EPS and $ 1.38 billion in revenue. Same-store sales increased 2% across the entire system, in line with FactSet's forecasts. Taco Bell was up 5%, higher than FactSet's expectations for 3% growth; KFC rose 3%, exceeding FactSet's 2.4% growth forecast; and Pizza Hut was down 1%, falling below FactSet's expectations for 0.4% growth. Yum shares have gained 6% since the beginning of the year, while the S & P 500 index
SPX, + 1.57%
is up 0.3% for the period.
Have the latest news sent to your inbox. Subscribe to free e-mails from the MarketWatch newsletter. Register here.
Source link
