Yum! Brands (YUM) Misses Q4 EPS by 13c, Revenues Beat
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EPS Growth %: +15.1%
Financial Fact:
Total costs and expenses, net: 2.52B
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Yum! Brands (NYSE: YUM) reported Q4 EPS of $1.00, $0.13 worse than the analyst estimate of $1.13. Revenue for the quarter came in at $1.69 billion versus the consensus estimate of $1.65 billion.
- Worldwide system sales excluding foreign currency translation grew 10%, with Taco Bell at 13%, KFC at 11% and Pizza Hut at 7%.
- We repurchased 3.2 million shares totaling $333 million at an average price per share of $103.
- Foreign currency translation unfavorably impacted divisional operating profit by $3 million.
DAVID GIBBS & CHRIS TURNER COMMENTS
David Gibbs, CEO, said “I am proud to announce that we completed our three-year transformation of Yum!, having achieved all of our transformation goals and evolved into a more focused, more franchised and more efficient business. 2019 was a truly historic year for our company. For the full-year, we generated over $50 billion in system sales and ended the year with over 50,000 restaurants thanks to our world-class franchisees. We delivered results consistent with our long-term growth algorithm with same-store sales growth of 3% and net-new unit growth of 4%. We began 2020 by announcing an agreement to add the Habit Burger Grill to the Yum! family. When complete, this deal should enable us to offer an exciting new investment opportunity to our existing franchisees and expand an award-winning, trend-forward brand through the power of Yum!’s unmatched scale. As we move into the next phase of growth for Yum!, we will continue to focus on our four key growth drivers with a collaborative mindset to fuel strong results for years to come.”
Chris Turner, CFO, continued “Fourth-quarter results were a solid end to the year where we met or exceeded each component of our guidance, including full-year 2019 core operating profit growth, which was an increase of 12%, or 11% excluding the 53rd week. I\'m especially pleased that we opened over 1,000 net new units in the fourth-quarter alone. We’ve emerged from our transformation a stronger company, and I look forward to accelerating the growth of our iconic brands, championing the customer experience and unlocking further value for our stakeholders.”
For earnings history and earnings-related data on Yum! Brands (YUM) click here.
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