Wednesday February 8, 2023, 09:15:06

YUM (Post-Call): Taco Bell’s Big Sales and Big Plans

Earlier today, Yum Brands reported adjusted Q4 EPS of $1.31, five cents above our $1.26 estimate and sell-side consensus (according to Consensus Metrix) of $1.26. The adjusted Q4 tax rate was 12.3%, more favorable than our 22.7% estimate and consensus of 22.5%. By our math, this more favorable tax rate helped Q4 EPS by approximately +14 cents. In other words, Q4 EPS would have missed Street expectations absent this tax-rate assistance.

Tuesday December 13, 2022, 13:19:40

YUM: Raises its Growth Algorithm at Today’s Analyst Meeting

By Mark Kalinowski

Earlier today, Yum Brands hosted an Analyst Meeting in New York City. As part of this, the company updated its long-term annualized growth algorithm as follows:

Tuesday November 29, 2022, 07:00:00

YUM: Examining Additional Concept Acquisition Possibilities

By Mark Kalinowski

On September 29th, we published a Yum Brands report looking at potential concept acquisitions in the Mediterranean space. This was following some September 20th remarks at a competitor conference by Yum Brands CFO Chris Turner:

YUM (Post-Call): Taco Bell’s Big Sales and Big Plans

YUM: Raises its Growth Algorithm at Today’s Analyst Meeting

YUM: Examining Additional Concept Acquisition Possibilities

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SBUX: Adjusting Our Estimates (9/19/2024)

Updating our Q3 Kalinowski Fast-Casual Same-Store Sales Index (9/18/2024)

Restaurant Spending Growth Rate Continues to Sequentially Shrink

Pricing Gap in Favor of Grocery Stores over Restaurants Remains Well Above the Historical Average

SBUX: Adjusting Our Estimates (9/19/2024)

Updating our Q3 Kalinowski Fast-Casual Same-Store Sales Index (9/18/2024)

Restaurant Spending Growth Rate Continues to Sequentially Shrink

Pricing Gap in Favor of Grocery Stores over Restaurants Remains Well Above the Historical Average