Yum! Brands Inc. (NYSE: YUM) just posted earnings and the fast food giant posted $0.45 EPS on $2.65 Billion in revenues (after $330 million in license fees). First Call had estimates at $0.42 EPS and $2.55 Billion revenue.
As far as guidance, the food giant gave a $0.02 higher guidance number than before so the new number is $1.89 EPS (12% growth). First Call has estimates of $1.89 EPS, so the company is only catching up to estimates that are already ahead of the company.
Most of the comments were upbeat with total international sales up 15% and China sales up 43%. Global same store sales rose 4% and same store sales in China rose 14%. Even the U.S. saw 2% same store sales growth. The company said that foreign currency conversions did account for $8 million in Q1, about the same as Q1.
Shares closed up 2.85% at $36.47 today and shares are actually down about 1% at $36.00 in the initial reaction in after-hours trading. Its 52-week trading range (split-adjusted) is $28.37 to $41.73.
Jon C. Ogg
July 16, 2008
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