Pizza Hut Parent Yum! Brands' Q2 Earnings Miss Estimates

Yum! Brands Inc YUM reported second-quarter FY22 sales growth of 2% year-on-year to $1.64 billion, missing the consensus of $1.65 billion.
Worldwide same-store sales for the quarter grew 1%, KFC Division fell 1%, Taco Bell climbed 8%, and Pizza Hut declined 3%.
Worldwide system sales excluding foreign currency translation grew 3%, with KFC at 1%, Taco Bell at 10%, and Pizza Hut flat.
Franchise and property revenues increased 4% to $737 million, and Company sales fell 4% Y/Y to $499 million.
Total costs and expenses increased 4% Y/Y to $1.1 billion. The operating margin was 33.8%, and operating income for the quarter fell 2% to $554 million.
Yum! Brands' net cash from operating activities year-to-date totaled $522 million versus $773 million a year earlier. It held $628 million in cash and equivalents as of June 30, 2022.
Adjusted EPS of $1.05 missed the analyst consensus of $1.10.
Price Action: YUM shares are trading lower by 0.56% at $121.44 in premarket on the last check Wednesday.
Photo Via Wikimedia Commons

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