Yum Brands earnings miss estimates as China weighs on KFC, Pizza Hut sales

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Vehicles wait in line at the drive through lane of a Yum! Brands Inc. Kentucky Fried Chicken (KFC) and Taco Bell restaurant in Lockport, Illinois, U.S.
Daniel Acker | Bloomberg | Getty Images

Yum Brands on Wednesday reported quarterly earnings and revenue that missed analysts’ expectations as sales at KFC and Pizza Hut disappointed.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $1.05 adjusted vs. $1.07 expected
  • Revenue: $1.55 billion vs. $1.59 billion expected

Yum reported first-quarter net income of $399 million, or $1.36 per share, up from $326 million, or $1.07 per share, a year earlier.

Excluding refranchising gains, profits from Russian operations and other items, the company earned $1.05 cents per share, missing the $1.07 per share expected by analysts surveyed by Refinitiv.

Net sales rose 4% to $1.55 billion, falling short of expectations of $1.59 billion.

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