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Yum Brands, Yum China Trade Lower On Q3 Earnings

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Yum Brands, Yum China Trade Lower On Q3 Earnings

Yum Brands (NYSE: YUM) reported quarterly earnings of 80 cents per share on Wednesday, which missed the analyst consensus estimate of 95 cents by 15.79%. This is a 23.08% decrease over earnings of $1.04 per share from the same period last year.

The company reported quarterly sales of $1.339 billion, which missed the analyst consensus estimate of $1.34 billion by 0.07%. This is a 3.74% decrease over sales of $1.391 billion the same period last year.

Yum Brands is the parent company of Taco Bell, KFC and Pizza Hut, among others.

"We're rapidly approaching the end of a truly historic year. 2019 will not only mark the completion of our 3-year transformation of Yum!, but it will also mark the end of my tenure as Yum! CEO,” said Greg Creed, CEO of Yum Brands in a statement. “I couldn't be prouder of the progress that our teams around the world have made to become more focused, more franchised and more efficient; all while accelerating global growth."

David Gibbs will take over as CEO.

Yum Brands shares were trading down 5.2% at $104 in Wednesday’s pre-market session. The stock has a 52-week high of $119.752 and a 52-week low of $84.53.

See Also: Last Year Americans Spent As Much On Cannabis As They Did On Taco Bell

Yum China Reports Mixed Q3 Earnings

Yum China Holdings (NYSE: YUMC) shares are also trading lower after the company reported worse-than-expected third-quarter sales results on Tuesday.

The company reported quarterly earnings of 58 cents per share, which beat the analyst consensus estimate of 55 cents by 5.45%. This is a 13.73% increase over earnings of 51 cents per share from the same period last year.

Yum China reported quarterly sales of $2.319 billion, which missed the analyst consensus estimate of $2.38 billion by 2.56%. This is a 4.84% increase over sales of $2.212 billion the same period last year.

Yum China shares were trading down 3.3% at $42.75 in Wednesday’s pre-market session. The stock has a 52-week high of $48.36 and a 52-week low of $30.60.

Photo credit: Mike Mozart, Flickr

Posted-In: Earnings News Restaurants Management General Best of Benzinga

 

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