Yum Brands, Yum China Trade Lower On Q3 Earnings

Yum Brands YUM reported quarterly earnings of 80 cents per share on Wednesday, which missed the analyst consensus estimate of 95 cents by 15.79%. This is a 23.08% decrease over earnings of $1.04 per share from the same period last year.

The company reported quarterly sales of $1.339 billion, which missed the analyst consensus estimate of $1.34 billion by 0.07%. This is a 3.74% decrease over sales of $1.391 billion the same period last year.

Yum Brands is the parent company of Taco Bell, KFC and Pizza Hut, among others.

"We're rapidly approaching the end of a truly historic year. 2019 will not only mark the completion of our 3-year transformation of Yum!, but it will also mark the end of my tenure as Yum! CEO,” said Greg Creed, CEO of Yum Brands in a statement. “I couldn't be prouder of the progress that our teams around the world have made to become more focused, more franchised and more efficient; all while accelerating global growth."

David Gibbs will take over as CEO.

Yum Brands shares were trading down 5.2% at $104 in Wednesday’s pre-market session. The stock has a 52-week high of $119.752 and a 52-week low of $84.53.

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Yum China Reports Mixed Q3 Earnings

Yum China Holdings YUMC shares are also trading lower after the company reported worse-than-expected third-quarter sales results on Tuesday.

The company reported quarterly earnings of 58 cents per share, which beat the analyst consensus estimate of 55 cents by 5.45%. This is a 13.73% increase over earnings of 51 cents per share from the same period last year.

Yum China reported quarterly sales of $2.319 billion, which missed the analyst consensus estimate of $2.38 billion by 2.56%. This is a 4.84% increase over sales of $2.212 billion the same period last year.

Yum China shares were trading down 3.3% at $42.75 in Wednesday’s pre-market session. The stock has a 52-week high of $48.36 and a 52-week low of $30.60.

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