YUM (Post-Call) Investment in GRUB Could Weigh on EPS Again in Q1

By Mark Kalinowski Published on February 7, 2019 at 12:00 AM

Earlier today, Yum Brands (YUM; Buy) reported adjusted Q4 EPS of $0.40, which includes a -$0.41 impact from mark-to-market related to the company’s investment in GrubHub (GRUB; Not Rated). Even adding this $0.41 back, EPS would have been short of our $0.99 forecast and the sell-side consensus (according to Consensus Metrix) of $0.97 (more on this shortly).

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