Yum! Brands, Inc. (YUM) Shares Dip on Q2 Sales

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Yum! Brands, Inc. (NYSE:YUM) stock was down On Thursday after releasing its earnings report for the second quarter of 2017.

Yum! Brands, Inc. (YUM) Shares Dip on Q2 Sales

Yum! Brands, Inc.’s same-store sales for the second quarter of 2017 were up 2% globally. Same-store sales at Taco Bell were up 4%, Pizza Hut saw a 1% drop in same-store sales and KFC reported same store sales that were up 3% from the same time last year.

While Yum! Brands, Inc. saw many same-store sales increase in the second quarter of the year, not all of those changes met expectations. Taco Bell was actually below analysts’ estimates for the quarter and this likely didn’t help YUM stock. They were looking for the fast-food chain to increase same-store sales by 5.4% in the second quarter of 2017, reports CNBC.

Despite same-stores sales not performing as well as expected, Yum! Brands, Inc. did still report revenue above estimates. Revenue for the second quarter of 2017 was $1.45 billion. This is down from its revenue of $1.51 billion in the second quarter of 2017. However, it does come in above Wall Street’s revenue estimate of $1.42 billion for the quarter.

Earnings per share reported by Yum! Brands, Inc. in the second quarter of the year was 68 cents. This is up from its earnings per share of 56 cents from the same time last year. It also beat out analysts’ earnings per share estimate of 61 cents for the quarter, but wasn’t enough to boost YUM stock today.

Yum! Brands, Inc. also reported net income of $206 million during the second quarter of the year. This is a drop from its net income of $336 million that was reported during the same period of the year prior.

YUM stock was down 2% as of noon Thursday, but is up 18% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/08/yum-brands-inc-yum-stock/.

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