YUM Updating Forecasts Following Business Update

By Mark Kalinowski Published on June 10, 2020 at 12:00 AM

Earlier today, Yum Brands (YUM; Neutral, $94.25) filed an 8-K which included a business update. As a result, we raise our Q2E EPS estimate by +5 cents, to $0.55. Our full-year 2020E EPS forecast goes up by +10 cents, to $3.00. And, given this higher anticipated base of earnings coming off of this year, we raise our 2021E EPS projection by +5 cents, to $3.80.

PZZA The Latest Test Menu Items from Papa John’s U.S. are Epic

By Mark Kalinowski Published on May 19, 2020 at 12:00 AM

Get ready for more innovation from Papa John’s (PZZA; Buy, $78.11) — we have learned that Papa John’s U.S. is testing several varieties of “Epic Stuffed Crust Pizzas” in at least one test market (Indianapolis). We believe there is a chance that one or more stuffed crust pizzas could receive a nationwide rollout by the end of 2020.

YUM (Post-Call) Sales Trends Improving in Mid-to-Late April

By Mark Kalinowski Published on April 29, 2020 at 12:00 AM

Yum Brands (YUM; Neutral, $88.27) reported adjusted Q1 EPS of $0.64 — ahead of our $0.50 forecast, and a little short of sell-side consensus (according to Consensus Metrix) of $0.66. Yum notes that its investment in Grubhub (GRUB; Not Rated) cost it -6 cents of EPS in Q1.