Earlier today, Yum Brands reported Q1 EPS of $1.07. This was above our $0.89 forecast and sell-side consensus (according to Consensus Metrix) of $0.87.
Yum Brands plans to release its Q1 2021 earnings before the market open on Wednesday, April 28th. How do YUM shares tend to trade heading into earnings, and the day of (for a before-the-market-open) or after (for an after-the-market-close) an earnings release?
With this report, we update our data-driven Kalinowski Quick-Service Other Index for Q1E to +7.3%. This +7.3% figure reflects implicit monthly numbers of about +7% for January 2021 (helped by consumer spending driven by stimulus), flattish for February 2021 (reflecting a dwindling of the prior month’s stimulus benefits, and coupled with bad weather across a good chunk of the U.S. in mid-to-late February), and +23% for March (helped by more stimulus-related consumer spending, plus easy year-over-year comparisons being lapped from mid-to-late March 2020).