Yum Brands earnings beat expectations

Yum Brands Inc. reported first-quarter net income of $262 million, or 83 cents per share, down from $433 million, or $1.27 per share, last year. Adjusted EPS was 82 cents, beating the 81-cent FactSet consensus. Revenue of $1.25 billion was down from $1.37 billion last year, but met the FactSet guidance. Global same-store sales rose 4% with KFC same-store sales climbing 5%, Taco Bell up 4% and Pizza Hut same-store sales coming in at breakeven. FactSet guidance was for global same-store sales growth of 2.7%, KFC growth of 3%, Taco Bell growth of 4.6%, and Pizza Hut same-store sales growth of 0.4%. Yum Brands stock slipped 0.4% in Wednesday premarket trading, but has rallied 13.6% for the year to date. The S&P 500 index is up 17.5% for 2019 so far.

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