HomeBusinessYum Brands (YUM) Q2 2022 earnings miss estimates

Yum Brands (YUM) Q2 2022 earnings miss estimates

A woman walks past a Taco Bell Cantina on July 30, 2020 in New York City.

Alexi Rosenfeld | Getty Images

Yum Brands on Wednesday reported mixed quarterly results as Covid lockdowns in China weighed on KFC’s and Pizza Hut’s sales.

Taco Bell, however, reported stronger same-store sales growth in the U.S., fueled by higher menu prices. It has a much smaller international presence than its sister chains.

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. $1.09 expected
  • Revenue: $1.64 billion, in line with expectations

Net sales for the quarter rose 2% from a year ago to $1.64 billion. The company’s global same-store sales rose 1%, dragged down by Covid lockdowns in China. Excluding China, it reported same-store sales growth of 6%.

KFC’s global same-store sales declined 1%. China is…

Read more at www.cnbc.com

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