Monday , 22 April 2024

Yum tops key 3Q sales estimates at KFC, Taco Bell

Yum Brands topped key sales estimates during the third quarter on growth in its KFC and Taco Bell restaurants.

The results helped push shares higher in premarket trading Wednesday.

The Louisville, Kentucky-based company said profit rose 8.6 percent to $454 million, or $1.40 per share. Excluding special charges and costs, Yum Brands earned $1.04 per share, topping analyst projections by 20 cents.

Revenue fell 3 percent to $1.39 billion, but still beat Wall Street forecasts.

Overall same-store sales, a key measure for retailers, rose 2 percent, matching expectations. The increase was driven by a 3 percent rise in sales at KFC and a 5 percent rise in sales at Taco Bell, both of which beat expectations.

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