Tags: Yum | Profit | International | Sales

Yum Profit Tops Estimates as International Sales Rise

Monday, 03 Feb 2014 05:22 PM

Yum! Brands Inc., owner of the KFC and Taco Bell fast-food chains, posted fourth-quarter profit that exceeded analysts’ estimates as international sales gained.

Net income fell 4.7 percent to $321 million, or 70 cents a share, from $337 million, or 72 cents, a year earlier, the Louisville, Kentucky-based company said Monday in a statement. Excluding some items, profit was 86 cents a share. Analysts estimated about 79 cents, on average. Sales rose 0.6 percent to $4.18 billion, trailing analysts’ projections.

While Yum’s KFC restaurants have been struggling to attract diners in China, the company has been expanding in emerging markets as well as boosting sales in nations including Russia and France. The company gets about a quarter of its revenue from its international division, where sales at restaurants open at least a year rose 2 percent in the quarter. Analysts estimated a gain of 1.7 percent, on average, according to Consensus Metrix.

Yum shares rose 4.4 percent to $69.10 in aftermarket trading, after falling 1.5 percent during the regular New York session. The shares climbed 3.4 percent in the 12 months through Jan. 31, trailing the 10 percent gain for the Standard & Poor’s 500 Restaurants Index.

The company reiterated its full-year forecast for at least a 20 percent profit increase, excluding certain items.

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Yum! Brands Inc., owner of the KFC and Taco Bell fast-food chains, posted fourth-quarter profit that exceeded analysts' estimates as international sales gained.
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2014-22-03
Monday, 03 Feb 2014 05:22 PM
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