Yum! Brands (NYSE: YUM) reported Q1 EPS of $0.90, $0.22 better than the analyst estimate of $0.68. Revenue for the quarter came in at $1.37 million versus the consensus estimate of $1.09 million.

Greg Creed, CEO, said “As we begin the second full year of our transformation journey, I’m pleased with our progress towards becoming a more focused, more franchised and more efficient company. As a result of the timing mismatch between refranchising and associated G&A savings and the new revenue recognition accounting standard, core operating profit growth was flat, which is consistent with our expectations. We’re maintaining all aspects of our full-year 2018 guidance and remain confident that this transformation is building a strong foundation for long-term growth and will deliver increased returns for our stakeholders.”

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