Yum China Reports Second Quarter 2020 Results
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Yum China (YUMC) Tops Q2 EPS by 11c, Sales Miss
July 29, 2020 4:35 PM EDTYum China (NYSE: YUMC) reported Q2 EPS of $0.35, $0.11 better than the analyst estimate of $0.24. Revenue for the quarter came in at $1.9 billion versus the consensus estimate of $1.96 billion.
Same-store sales declined 11% year over year, with a 10% decline at KFC and 12% decline at Pizza Hut, excluding F/X.
CEO and CFO Comments:
"I am proud of the results we achieved in Q2. We continue to operate in a tough environment, facing significant headwinds from reduced traffic, particularly at transportation and tourist locations, delayed and shortened school holidays and regional resurgences of COVID-19... More
