Pizza Hut Parent Yum! Brands Clocks 2% Top-Line Growth

Pizza Hut Parent Yum! Brands Clocks 2% Top-Line Growth
  • Yum! Brands Inc YUM reported third-quarter FY22 sales growth of 2% year-on-year to $1.64 billion, beating the consensus of $1.63 billion.
  • Worldwide same-store sales for the quarter grew 5%, KFC Division grew 7%, Taco Bell climbed 6%, and Pizza Hut gained 1%.
  • Worldwide system sales excluding foreign currency translation grew 7%, with KFC at 8%, Taco Bell at 9%, and Pizza Hut at 4%.
  • Franchise and property revenues increased 6% to $760 million, and Company sales fell 7% Y/Y to $479 million.
  • Total costs and expenses decreased 1% Y/Y to $1.1 billion. The operating margin was 33.3%, and operating income for the quarter gained 4% to $546 million.
  • Yum! Brands' net cash from operating activities year-to-date totaled $975 million. It held $410 million in cash and equivalents as of September 30, 2022.
  • Adjusted EPS of $1.09 missed the analyst consensus of $1.16.
  • CEO David Gibbs said, "I'm pleased to report another strong quarter for Yum!, with system sales growth of 10% excluding Russia, driven by strong demand for our iconic brands, increased digital adoption and continued momentum on unit development."
  • Price Action: YUM shares are trading higher by 0.91% at $119.23 on the last check Wednesday.
  • Photo Via Wikimedia Commons
Posted In: BriefsEarningsNewsRestaurantsGeneral