Business is booming.

Yum Brands (YUM) Q1 2020 earnings


People wear facial mask walking past a KFC restaurant, which has resumed its outdoor dining area. For the COVID-19 epidemic situation is under control in China, most of shopping malls and stores are resuming business.

Zhang Peng | Getty Images

Yum Brands on Wednesday reported that its first-quarter same-store sales fell 7% as the coronavirus pandemic weighed on Pizza Hut and KFC’s sales. 

Shares of the company rose less than 1% in premarket trading.

Here’s what the company reported:

  • Earnings per share: 64 cents, adjusted
  • Revenue: $1.26 billion 

Yum reported fiscal first-quarter net income of $83 million, or 27 cents per share, down from $262 million, or 83 cents per share, a year earlier.

Excluding items, Yum earned 64 cents per share.

Net sales rose 1% to $1.26 billion.

Wall Street anticipated earnings per share of 65 cents on revenue of $1.20 billion, based on a survey of analysts by Refinitiv. However, it’s difficult to compare reported earnings to analyst estimates for Yum’s quarter, as the coronavirus pandemic continues to hit global economies and makes earnings impact difficult to assess.

Source link

Comments are closed.