Monday March 14, 2022, 13:13:41
Earlier today, master franchisee Yum China (YUMC; Not Rated) provided a business update in which it said that while its same-store sales were down by about -4% over January/February, they had “decreased approximately -20% year-over-year for the first two weeks of March” and were “still trending down in recent days.”
Wednesday February 9, 2022, 09:15:01
Earlier today, Yum Brands reported adjusted Q4 EPS of $1.02, falling short of our $1.15 forecast and sell-side consensus (according to Consensus Metrix) of $1.09.
Thursday October 28, 2021, 09:22:35
Earlier today, Yum Brands reported adjusted Q3 EPS of $1.22, ahead of our $1.10 forecast and sell-side consensus (according to Consensus Metrix) of $1.09. However, we calculate that: (1) pre-tax investment income of $52 million (“related to the change in fair value of our approximate 5% investment in Devyani International Limited, an entity that operates KFC and Pizza Hut franchised units in India that executed an initial public offering during the quarter”) added about +16 cents’ worth of EPS help, and (2) by our calculations, the Q3 adjusted tax rate of 18.9% added about +4 cents of EPS help (relative to our 21.5% forecast and consensus of 21.4%).
Wednesday November 13, 2024
Wednesday November 13, 2024