YUM (Post-Call) Lowering EPS Estimates Based om Virus, Pizza Hut Risks

By Mark Kalinowski Published on February 6, 2020 at 12:00 AM

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).

YUM Sometimes Delivery Ain’t What It’s Cracked Up to Be

By Mark Kalinowski Published on October 30, 2019 at 12:00 AM

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.

YUM Introducing EPS Estimates, Discussing GRUB, and Taco Bell Tidbits

By Mark Kalinowski Published on October 18, 2019 at 12:00 AM

We maintain our Buy rating on YUM and note the following: