Thursday March 26, 2020, 00:00:00
By Mark Kalinowski
We lower our worldwide aggregate same-store sales estimates for Yum Brands (YUM; Buy) as follows:
Q1E 2020: down by -8 percentage points to -8%
Q2E 2020: down by -23 percentage points to -23%
Q3E 2020: down by -15 percentage points to -13%
Q4E 2020: down by -7 percentage points to -5%
Full-year 2020E: down by -14 percentage points to -13%
Full-year 2021E: up by +5 percentage points to +7%
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Thursday February 6, 2020, 00:00:00
By Mark Kalinowski
Earlier today, Yum Brands (YUM; Buy) reported adjusted Q4 EPS of $1.00 — which included a -$0.05 hit related to the mark-to-market adjustment for Yum’s investment in Grubhub (GRUB; Not Rated). Excluding this GRUB-related adjustment, adjusted EPS would have been $1.05 — still short of our $1.14 forecast and $1.13 sell-side consensus (according to Consensus Metrix).
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Wednesday October 30, 2019, 00:00:00
By Mark Kalinowski
Earlier today, Yum Brands (YUM; Buy) reported adjusted Q3 EPS of $0.80 — which included a -$0.15 hit related to the mark-to-market adjustment for Yum’s investment in Grubhub (GRUB; Not Rated). Excluding this GRUB-related adjustment, EPS would have been $0.95, matching our $0.95 forecast, although a penny shy of the sell-side consensus (according to Consensus Metrix) of 0.96.
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