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…