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- Yum! Brands Inc (NYSE:YUM) reported second-quarter FY22 sales growth of 2% year-on-year to $1.64 billion, missing the consensus of $1.65 billion.
- Worldwide same-store sales for the quarter grew 1%, KFC Division fell 1%, Taco Bell climbed 8%, and Pizza Hut declined 3%.
- Worldwide system sales excluding foreign currency translation grew 3%, with KFC at 1%, Taco Bell at 10%, and Pizza Hut flat.
- Franchise and property revenues increased 4% to $737 million, and Company sales fell 4% Y/Y to $499 million.
- Total costs and expenses increased 4% Y/Y to $1.1 billion. The operating margin was 33.8%, and operating income for the quarter fell 2% to $554 million.
- Yum! Brands' net cash from operating activities year-to-date totaled $522 million versus $773 million a year earlier. It held $628 million in cash and equivalents as of June 30, 2022.
- Adjusted EPS of $1.05 missed the analyst consensus of $1.10.
- Price Action: YUM shares are trading lower by 0.56% at $121.44 in premarket on the last check Wednesday.
- Photo Via Wikimedia Commons
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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