YUM Brands Inc (YUM)

[MCArmel1]

YUM! Brands misses by $0.02, misses on revenue

Oct 7 2014, 16:17 ET | About: YUM! Brands, Inc. (YUM) | By: Jignesh Mehta, SA News Editor

YUM! Brands (NYSE:YUM): FQ3 EPS of $0.87 misses by $0.02.
Revenue of $3.35B (-3.5% Y/Y) misses by $130M.
Shares +1.35% AH.
Press Release

http://seekingalpha.com/news/2019505-yum-brands-misses-by-0_02-misses-on-revenue?uprof=45#email_link


Yum! Brands Reports Third-Quarter EPS Growth of 3%, Excluding Special Items; Soft China Sales Reduce 2014 Full-Year EPS Expectations
Tue October 7, 2014 4:15 PM|Business Wire | About: YUM

LOUISVILLE, Ky.--(BUSINESS WIRE)-- Yum! Brands, Inc. (YUM) today reported results for the third quarter ended September 6, 2014, including EPS of $0.87, excluding Special Items. Reported EPS was $0.89. The Company now estimates 2014 EPS growth to be between 6% and 10% versus prior year, excluding Special Items.

THIRD-QUARTER HIGHLIGHTS

Ï Worldwide system sales grew 1%. Worldwide restaurant margin decreased 2.7 percentage points to 14.9%, and worldwide operating profit decreased 12%.

Ï Total international development was 400 new restaurants; 77% of this development occurred in emerging markets.

Ï China Division system sales declined 9%, as 6% unit growth was offset by a 14% same-store sales decline. Restaurant margin decreased 4.6 percentage points to 14.9%. Operating profit decreased 38%.

Ï KFC Division system sales increased 6%, driven by 2% unit growth and 3% same-store sales growth. Restaurant margin increased 1.0 percentage point to 13.4%. Operating profit increased 16%.

Ï Pizza Hut Division system sales were even, as 2% unit growth was offset by a 1% same-store sales decline. Restaurant margin decreased 1.0 percentage point to 8.9%. Operating profit decreased 2%.

Ï Taco Bell Division system sales increased 4%, driven by 2% unit growth and 3% same-store sales growth. Restaurant margin increased 1.8 percentage points to 20.7%. Operating profit increased 14%.

Ï India Division system sales increased 14%, driven by 26% unit growth which was partially offset by a 4% same-store sales decline.

Ï Worldwide effective tax rate decreased to 22.4% from 33.1%, benefiting EPS by 14 percentage points.

Ï Foreign currency translation negatively impacted operating profit by $6 million.

Ï On September 10, 2014, the Company announced an 11% increase in its quarterly dividend, marking the tenth consecutive year the dividend increased at a double-digit percentage rate.

http://seekingalpha.com/pr/11252755-yum-brands-reports-third-quarter-eps-growth-of-3-percent-excluding-special-items-soft-china-sales-reduce-2014-full-year-eps-expectations