Tuesday November 29, 2022, 07:00:00
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:
Wednesday November 2, 2022, 09:57:22
Earlier today (Wednesday), Yum Brands reported adjusted Q3 EPS of $1.09, short of our $1.14 projection and consensus of $1.15. However, the adjusted Q3 tax rate of 26.7% was meaningfully higher than our 21.7% estimate and consensus of 21.6%. By our calculations, this difference cost Yum Brands about -7 cents in Q3 EPS. In other words, if the Q3 adjusted tax rate had matched our estimate, then Q3 adjusted EPS would have been $1.16 — two cents above our forecast and one cent above consensus.
Thursday October 20, 2022, 07:00:00
On August 3rd, Yum Brands indicated that it anticipates the full-year 2022 impact on its operating profits from currencies to be in the -$70 million to -$90 million range. By our calculations, the EPS effect of this range would be -19 cents to -24 cents. However, since that date, currencies have continued to move against Yum Brands.
Wednesday November 13, 2024
Wednesday November 13, 2024