Yum Brands (YUM) Q1 2024 incomes

Yum Brands on Wednesday reported quarterly earnings and income that missed out on experts’ assumptions as Pizza Hut and KFC battled to draw in clients.

Shares of the firm dropped 3% in premarket trading.

Here’s what the firm reported compared to what Wall surface Road was anticipating, based upon a study of experts by LSEG:

• Earnings per share: $1.15 readjusted vs. $1.20 expected
• Revenue: $1.6 billion vs. $1.71 billion expected

Yum reported first-quarter earnings of $314 million, or $1.10 per share, up from $300 million, or $1.05 per share, a year previously.

Leaving out financial investment losses and various other products, the firm made $1.15 per share.

Web sales dropped 3% to $1.6 billion. Yum’s international same-store sales likewise dropped 3% in the quarter, missing out on StreetAccount quotes of 0.2% same-store sales development.

Throughout Yum’s 3 biggest brand names, just Taco Bell reported same-store sales development. The statistics climbed 1% throughout the quarter at the Mexican-inspired chain. Taco Bell’s united state places reported same-store sales development of 2%, while its global company uploaded a decrease of 2%.

KFC’s same-store sales dropped 2% in the quarter. The larger decrease was available in the united state, where they diminished 7%. Nevertheless, the hen chain’s global department saw same-store sales lower simply 2%, many thanks to development in China, its biggest market.

Pizza Hut reported same-store sales went down 7%, as need delayed both in its home market and globally. The pizza chain’s united state dining establishments reported a decline of 6%, while its global department uploaded an 8% decrease.

The firm’s electronic company was just one of minority brilliant areas this quarter. Yum claimed its electronic sales represented greater than 50% of sales for the very first time.

Yum’s international impact expanded 6% in the quarter, many thanks to 808 brand-new dining establishment openings.