Witness the vibrant sign outside a Taco Bell establishment in Richmond, California, captured on May 1, 2024.
Marvel at the latest update from Yum Brands, showcasing a quarter of ups and downs with Pizza Hut and KFC experiencing a dip in same-store sales.
During the company’s conference call, Yum CEO David Gibbs attributed the decline to factors like the Middle East conflict and a shift towards more budget-conscious spending by consumers.
Despite these challenges, there is a silver lining as sales in the U.S. have shown improvement, fueled by popular value meals like Pizza Hut’s $7 Deal Lovers.
Let’s delve into the numbers that Yum Brands reported, compared to the projections of Wall Street analysts:
Earnings per share: $1.35 adjusted vs. $1.33 expectedRevenue: $1.76 billion vs. $1.8 billion expected
Yum Brands disclosed a second-quarter net income of $367 million, translating to $1.28 per share, a slight decrease from the previous year’s $418 million, or $1.46 per share.
After excluding certain items, the company’s earnings per share stood at $1.35.
Notably, net sales saw a 4% increase…
2024-08-06 08:41:13
Originally published on www.cnbc.com
