Thursday February 6, 2025, 09:38:28

YUM (Post-Call): G&A Growth, Interest Expenses, Tax Rate Seen Weighing on 2025 EPS Growth

By Mark Kalinowski

Earlier today, Yum Brands reported adjusted Q4 EPS of $1.61, coming in in-between our $1.63 forecast and sell-side consensus (according to Consensus Metrix) of $1.60. The Q4 adjusted tax rate was 25.1%. This was less favorable than our 22.0% projection and consensus at 21.8%. By our math, the difference between 25.1% and 22.0% hurt Q4 adjusted EPS by about -7 cents.

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Monday November 25, 2024, 07:00:00

YUM: Taco Bell Tests its Version of McCafé, Called Live Más Café

By Mark Kalinowski

We have learned that Taco Bell is testing what looks to be its own version of McCafé (the “concept within a concept” from McDonald’s [MCD; Buy, $290.29]). We could learn more about the “Live Más Café” test platform when Taco Bell/Yum Brands hosts an Analyst Meeting in Los Angeles on Tuesday, January 28th. But here is what we have learned so far…

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Tuesday November 5, 2024, 09:27:33

YUM (Post-Call): Company Anticipates Core Operating Profit Growth of Mid-to-High Single Digits for Q4

By Mark Kalinowski

Earlier today (Tuesday), Yum Brands reported adjusted third-quarter EPS of $1.37, short of our $1.43 forecast and sell-side consensus (according to Consensus Metrix) of $1.41. We attribute the EPS shortfall to weaker-than-expected KFC worldwide same-store sales and a higher-than-anticipated tax rate, despite very good Taco Bell same-store sales.

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