Yum Brands (YUM) Q4 2023 revenues

KFC and Taco Bell dining establishments along 118th Opportunity in Edmonton, on January 21, 2024, in Edmonton, Alberta, Canada.

Artur Widak|Nurphoto|Getty Images

Yum Brands on Wednesday reported quarterly revenues and income that missed out on experts’ expectations as KFC, Taco Bell and Pizza Hut all reported weaker-than-expected sales.

Yum is the 3rd international dining establishment giant to report frustrating income for the last 3 months of 2023. Starbucks and McDonald’s both missed out on Wall Street’s expectations, mentioning the Israel-Hamas war amongst their headwinds.

Here’s what Yum Brands reported compared to what Wall Street was anticipating, based upon a study of experts by LSEG, previously referred to as Refinitiv:

  • Revenues per share: $1.26 changed vs. $1.40 anticipated
  • Income: $2.04 billion vs. $2.11 billion anticipated

Yum reported fourth-quarter earnings of $463 million, or $1.62 per share, up from $371 million, or $1.29 per share, a year previously.

Leaving out products, the dining establishment giant made $1.26 cents per share. The business stated its quarterly tax rate changed, dragging its revenues down by 23 cents per share.

Net sales increased 1% to $2.04 billion. The business’s international same-store sales increased 1% too.

Pizza Hut reported same-store sales decreases of 2%, missing out on expectations of 0.6% development. The pizza chain’s U.S. same-store sales diminished 4%, while its worldwide same-store sales were flat.

KFC’s same-store sales increased 2%, being available in listed below StreetAccount quotes of 4.7%.

Even Taco Bell, typically the gem of Yum’s portfolio, underperformed Wall Street’s expectations. The Mexican-inspired chain reported same-store sales development of 3%, missing out on StreetAccount quotes of 3.8%. A year previously, the chain reported same-store sales development of 11%, sustained by the long-term return of its cult-favorite Mexican Pizza.

In 2024, Yum strategies to pass a number of significant turning points for its international footprint. Yum’s footprint will go beyond 60,000 areas, CEO David Gibbs stated in a declaration, consisting of a KFC footprint of more than 30,000 dining establishments and a Pizza Hut tally of beyond 20,000.

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