Yum! Brands (YUM) Profit Beats Estimates
Shares of Yum! Brands Inc. (YUM) were trading up +2.78 or +4.20 percent to $68.94 per share in afterhours trading on Monday, after the company released fourth quarter earnings for its 2013 fiscal year. Yum reported a -4.7% decline in profits due to a onetime charge but revenue edged up. Yum! Brands stock closed at $66.16 per share in Mondayâ s regular trading session, down -0.99 or -1.47 percent
Louisville, Kentucky based Yum! Brands Inc. is the largest fast food restaurant company in the world by system units.
The company, originally named Tricon Global Restaurants Inc. was spun out from PepsiCo in 1997 as an independent company and franchises the Taco Bell, KFC and Pizza Hut brands worldwide. The company is divided into six operating divisions: Taco Bell U.S., KFC U.S., Pizza Hut U.S., YUM Restaurants China, YUM Restaurants International, and YUM Restaurants India. Yumâ s fourth quarter profit came to $321 million or $0.70 per share, versus $337 million or $0.72 per share in the same period one year ago. With the exclusion of tax benefits, pensions and other items, adjusted earnings came to $0.86 per share, versus $0.83 a year ago. Revenue rose +0.6% to $4.18 billion. The analyst consensus was for earnings of $0.80 per share on revenue of $4.26 billion. David C. Novak, Yumâ s Chairman and CEO said after the earnings release that, â
Published on Feb 4, 2014
By Jay Hawk