Yum Brands Inc.
YUM, + 1.12%
The stock gained 3% on Wednesday after the restaurant company generated profits and revenues in the third quarter that exceeded expectations. The company, whose brands include Taco Bell, Pizza Hut and KFC, reported net income of $ 454 million or $ 1.40 per share for the third quarter, compared to $ 418 million or $ 1.18 per share last year. Adjusted earnings per share were $ 1.04. Sales were $ 1.39 billion, compared to $ 1.44 billion the year before. The FactSet consensus was 84 EPS and $ 1.38 billion in revenue. System-wide sales in the same store increased 2% and met the FactSet guidance. Taco Bell was 5% above FactSet's expectations for growth of 3%; KFC increased 3%, outperforming FactSet's growth forecast of 2.4%. Pizza Hut was down 1%, down 0.4% from FactSet expectations. The Yum share gained 6% year-to-date, while the S & P 500 index
SPX, + 1.57%
has risen by 0.3% for the period.
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