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Yum! Brands Q4 Results Top Estimates
Both adjusted earnings per share and quarterly revenues topped analysts expectations.
David Gibbs, CEO, said Yum! enters 2021 a stronger company primed to profitably grow system sales this year and beyond.
Yum! Brands fourth-quarter net income dropped 32 percent to $332 million or $1.08 per share from $488 million or $1.58 per share in the prior year.
Earnings per share, excluding special items, for the fourth-quarter was $1.15 compared to $1.00 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.01 per share for the fourth-quarter. Analysts estimates typically exclude special items.
Total costs and expenses increased to $1.26 billion from $1.15 billion in the previous year.
Photo: iStock
Feb. 4, 2021
The fourth quarter of 2020 worked out pretty well for Louisville, Kentucky-based Yum Brands, which beat analysts estimates thanks to Taco Bell, which recorded a 1% sales increase to $3.67 million. Sister brands, Pizza Hut and KFC, were dragged down by their international sales declines, according to a company press release.
YUM earnings per share handily topped analysts prediction of $1.01 per share by coming in at $1.15 per share adjusted. That s a 15% gain over the previous year s quarter. Revenue also exceeded expectations of $1.72 billion, coming in at $1.74 billion. Other results included:
Yum Brands full-year EPS for 2020 also managed a 2% increase to $3.62 though EPS for Q4, which ended Dec. 31, fell 32% to $1.08,. Full-year GAAP EPS was $2.94, down 29%, according to the company s quarterly results released this morning. The company reporter Q4 net income of $332 million, or $1.08 per share, down from $488 million, or $1.58 per share, a year