Yum! (YUM) Shares Fall Following Q3 Results; Growth in China Remains Strong
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Price: $146.55 +0.42%
Financial Fact:
Franchise and license fees and income: 454M
Today's EPS Names:
EDXC, BICX, FBPI, More
Financial Fact:
Franchise and license fees and income: 454M
Today's EPS Names:
EDXC, BICX, FBPI, More
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Shares of Yum! Brands (NYSE: YUM) have pushed modestly lower in Tuesday's post-market session following the company's third-quarter earnings report.
Revenue for Yum! increased 14.4 percent from $2.862 billion in the third quarter of 2010 to $3.274 billion.
Beating many expectations, comparable-store sales in China rose 19 percent. Yum! Restaurants International (YRI) rose 3 percent and comps in the U.S. dropped 3 percent. YRI and U.S. growth came in-line with analysts estimates.
Net income popped 7 percent from $357 million to $383 million, or 80 cents per diluted share. Excluding impairment from the planned sale of Long John Silvers and A&W, among other items, and earnings were a more robust 83 cents per share.
Analysts on the Street were looking for revenue of $3.10 billion and earnings of 83 cents per share.
Excluding impact from foreign exchange translation, China sales ripped 29 percent higher. 138 new restaurants were opened in China through the quarter.
YRI sales increased 3 percent in the quarter.
Yum! reaffirmed its outlook for fiscal 2012, expecting EPS growth of at least 12 percent.
Shares are down about 2.5 percent in after-hours trading.
Revenue for Yum! increased 14.4 percent from $2.862 billion in the third quarter of 2010 to $3.274 billion.
Beating many expectations, comparable-store sales in China rose 19 percent. Yum! Restaurants International (YRI) rose 3 percent and comps in the U.S. dropped 3 percent. YRI and U.S. growth came in-line with analysts estimates.
Net income popped 7 percent from $357 million to $383 million, or 80 cents per diluted share. Excluding impairment from the planned sale of Long John Silvers and A&W, among other items, and earnings were a more robust 83 cents per share.
Analysts on the Street were looking for revenue of $3.10 billion and earnings of 83 cents per share.
Excluding impact from foreign exchange translation, China sales ripped 29 percent higher. 138 new restaurants were opened in China through the quarter.
YRI sales increased 3 percent in the quarter.
Yum! reaffirmed its outlook for fiscal 2012, expecting EPS growth of at least 12 percent.
Shares are down about 2.5 percent in after-hours trading.
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