News

Yum Brands reports decrease in earnings

May 1, 2019

Yum Brands' first-quarter earnings were down from last year, although the company still performed better than projected by stock analysts. First-quarter net income was down $433 million to $262 million, or 83 cents a share, versus $1.27 a share in Q1 2018, according to the company's quarterly financials report.

Ultimately, adjusted earnings per share still exceeded expectations set at 81 cents a share, to land at 82 cents per share when all was said and done.

Other key results from the quarter include: 

• Revenue down to $1.25 billion, from $1.37 billion in 2018. 
• Global same-store sales up 4%. 
• KFC same-store sales up 5%.
• Pizza Hut same-store sales flat. 
• Taco Bell same-store sales up 4%. 

 "The third and final year of our transformation is underway and I'm thrilled with the progress towards our commitment to becoming a more focused, more franchised, and more efficient growth company," Yum Brands CEO Greg Creed said of the earnings. 

"First-quarter results were a solid start to the year, reflecting particular strength at the KFC division and Taco Bell U.S. With this quarter, we have a healthy foundation to help us achieve our 2019 guidance. Through the lens of our four growth drivers, we continue to leverage our unprecedented scale and expand our capabilities with the goal of improving franchise economics and accelerating growth. We remain confident in our enviable business model and our commitment to lasting growth that maximizes shareholder value."