MW Yum Brands' stock rises as Taco Bell and KFC fuel profit and revenue beats
Shares of Yum Brands Inc. $(YUM)$ rose 1.7% in premarket trading after the operator of the Pizza Hut, Taco Bell and KFC restaurant chains topped Wall Street's profit and revenue estimates, with the Taco Bell and KFC businesses fueling that outperformance.
Yum's adjusted fourth-quarter profit was $1.61 a share, above the FactSet consensus estimate of $1.60 a share. Revenue rose to $2.362 billion from $2.036 billion, above the analyst revenue estimate of $2.356 billion.
The Louisville, Ky., company highlighted same-store-sales growth at Taco Bell U.S. and unit growth at KFC. "Our twin growth engines remain strong with Taco Bell U.S. delivering same-store sales growth of 5% in the fourth quarter, meaningfully outpacing the industry, and KFC International delivering its second consecutive year with over 2,000 net new units," said Yum Brands CEO David Gibbs, in a statement. The KFC division opened 1,100 new restaurants during the fourth quarter.
(This is a developing news story with updates to come.)
-James Rogers
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February 06, 2025 07:27 ET (12:27 GMT)
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