KFC and Pizza Hut parent Yum Brands reported a bigger-than-expected fall in same-store sales for the second quarter as sticky inflation discouraged lower-income Americans from spending on dining out.Same-store sales at the company’s KFC division fell 5% in the United States in the second quarter, compared with a 7% decline in the prior quarter, while Pizza Hut reported a decline of 1%, Yum said Tuesday.Like its peers in the fast-food industry, Yum, which also owns Taco Bell, has been investing in loyalty pr ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Key TakeawaysShares of KFC and Pizza Hut parent Yum! Brands rose Tuesday as the company gave an optimistic view of its value-centric brands like Taco Bell as consumers pull back on discretionary spending.Revenue rose year-over-year, but not quite as much as analysts expected. Same-store sales were lower at KFC and Pizza Hut, but higher at Taco Bell.An emphasis on value has emerged among other fast-food giants like McDonald's in recent weeks amid efforts to win back consumers who turned away over high prices ...

As Yum Brands aims to be a “leading global digital restaurant company,” per CEO David Gibbs, the quick-service restaurant (QSR) giant is tapping its tech acquisitions to create a unified eCommerce ecosystem on which to layer artificial intelligence (AI) capabilities to drive sales and productivity.The company, which owns KFC, Pizza Hut, Taco Bell and Habit Burger Grill, shared Tuesday (Aug. 6) on a call discussing its second-quarter 2024 financial results how it is approaching its ambitious digital goals.“T ...

YUM! Brands, Inc. (YUM) reported mixed second-quarter 2024 results, with adjusted earnings surpassing the Zacks Consensus Estimate and total revenues missing the same. On the other hand, the bottom line declined while the top line grew on a year-over-year basis.Following the results, shares of the company inched down 1% in the pre-market trading session on Aug 6.The top-line performance reflects solid contributions from the company’s Taco Bell and KFC divisions. The Taco Bell division’s performance was enco ...

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 250 points on Tuesday.The Dow traded up 1.11% to 39,133.65 while the NASDAQ rose 1.71% to 16,477.42. The S&P 500 also rose, gaining, 1.66% to 5,272.52.Leading and Lagging SectorsReal estate shares climbed by 2.2% on Tuesday.In trading on Tuesday, energy shares rose by 0.7%.Top HeadlineYum! Brands, Inc. YUM reported better-than-expected quarterly earnings on Tuesday.The company reported second-quarter adjusted earni ...

For the quarter ended June 2024, Yum Brands (YUM) reported revenue of $1.76 billion, up 4.5% over the same period last year. EPS came in at $1.35, compared to $1.41 in the year-ago quarter.The reported revenue represents a surprise of -1.89% over the Zacks Consensus Estimate of $1.8 billion. With the consensus EPS estimate being $1.32, the EPS surprise was +2.27%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next ...

Yum! Brands, Inc. (NYSE:YUM) Q2 2024 Earnings Conference Call August 6, 2024 8:15 AM ET Company Participants Matt Morris - Head, Investor Relations David Gibbs - Chief Executive Officer Chris Turner - Chief Financial Officer Conference Call Participants David Tarantino - Baird Jon Tower - Citi Andrew Charles - TD Cowen Brian Bittner - Oppenheimer Dennis Geiger - UBS Brian Harbour - Morgan Stanley Danilo Gargiulo - Bernstein Operator Hello, and welcome to the Yum! Brands 2024 Second Quarter Earnings Call. My ...

Yum Brands (YUM) came out with quarterly earnings of $1.35 per share, beating the Zacks Consensus Estimate of $1.32 per share. This compares to earnings of $1.41 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.27%. A quarter ago, it was expected that this parent company of KFC, Taco Bell and Pizza Hut would post earnings of $1.20 per share when it actually produced earnings of $1.15, delivering a surprise of -4.17%.Over the ...

In this articleA sign is posted in front of a Taco Bell restaurant on May 01, 2024 in Richmond, California.Yum Brands on Tuesday reported revenue that fell short of expectations as both Pizza Hut and KFC reported declining same-store sales.Shares of the company fell 1% in premarket trading.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: $1.35 adjusted. That may not compare with $1.33 expected.Revenue: $1.76 billion vs. ...