Yum Manufacturers (YUM) Q3 2021 earnings

Yum Manufacturers on Thursday reported quarterly earnings and income that topped analysts’ expectations, fueled by robust demand for KFC’s fried rooster.

Shares of the corporate rose greater than 1% in premarket buying and selling.

This is what the corporate reported in contrast with what Wall Road was anticipating, based mostly on a survey of analysts by Refinitiv:

• Earnings per share: $1.22 adjusted vs. $1.08 anticipated
• Income: $1.61 billion vs. $1.59 billion anticipated

The corporate reported fiscal third-quarter web revenue of $528 million, or $1.75 per share, up from $283 million, or 92 cents per share, a yr earlier.

Excluding gadgets, Yum earned $1.22 per share, beating the $1.08 per share anticipated by analysts surveyed by Refinitiv.

Internet gross sales rose 11% to $1.61 billion, topping expectations of $1.59 billion. Throughout all of its chains, same-store gross sales elevated by 5%. Wall Road was anticipating same-store gross sales development of 5.8%, in response to StreetAccount estimates. The worldwide unfold of the Covid delta variant weakened demand for Yum’s pizza, rooster and tacos in a few of its key markets.

KFC’s same-store gross sales climbed 6% after falling 4% a yr in the past. Whereas development in China, its largest market, was muted through the quarter, its residence market noticed same-store gross sales climb 4%. On a two-year foundation, U.S. same-store gross sales have been up 13%.

Pizza Hut reported same-store gross sales development of 4% as worldwide markets bounced again. In the US, its same-store gross sales rose by simply 2% because it confronted robust comparisons to a yr in the past. On a two-year foundation, Pizza Hut’s U.S. same-store gross sales are up 8%.

Taco Bell’s same-store gross sales rose 5% within the quarter and eight% on a two-year foundation. The chain has struggled to recuperate late-night and breakfast gross sales all through the pandemic. The Mexican-inspired chain’s same-store gross sales had the most important miss of Yum’s portfolio. StreetAccount estimates forecast that the chain would report same-store gross sales development of 6.2%.

Yum added 760 web new areas through the quarter, setting a file for the corporate.