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Yum Manufacturers (YUM) This autumn 2023 earnings



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KFC and Taco Bell eating places alongside 118th Avenue in Edmonton, on January 21, 2024, in Edmonton, Alberta, Canada.

Artur Widak | Nurphoto | Getty Pictures


Yum Brands on Wednesday reported quarterly earnings and income that missed analysts’ expectations as KFC, Taco Bell and Pizza Hut all posted weaker-than-expected gross sales.

Yum is the third international restaurant big to report disappointing income for the final three months of 2023. Starbucks and McDonald’s each missed Wall Avenue’s expectations, citing the Israel-Hamas war amongst their head winds.


Yum’s inventory fell greater than 1% in premarket buying and selling.

Here is what Yum Brands reported in contrast with what Wall Avenue was anticipating, based mostly on a survey of analysts by LSEG, previously referred to as Refinitiv:

  • Earnings per share: $1.26 adjusted vs. $1.40 anticipated
  • Income: $2.04 billion vs. $2.11 billion anticipated

Yum reported fourth-quarter web earnings of $463 million, or $1.62 per share, up from $371 million, or $1.29 per share, a 12 months earlier.

Excluding gadgets, the restaurant big earned $1.26 cents per share. The corporate stated its quarterly tax charge fluctuated, dragging its earnings down by 23 cents per share.

Internet gross sales rose 1% to $2.04 billion. The corporate’s international same-store gross sales elevated 1% as nicely.


Pizza Hut reported same-store gross sales declines of two%, lacking expectations of 0.6% development. The pizza chain’s U.S. same-store gross sales shrank 4%, whereas its worldwide same-store gross sales had been flat.

KFC’s same-store gross sales rose 2%, coming in under StreetAccount estimates of 4.7%.


Even Taco Bell, normally the gem of Yum’s portfolio, underperformed Wall Avenue’s expectations. The Mexican-inspired chain reported same-store gross sales development of three%, lacking StreetAccount estimates of three.8%. A 12 months earlier, the chain reported same-store gross sales development of 11%, fueled by the everlasting return of its cult-favorite Mexican Pizza.

In 2024, Yum plans to move a number of main milestones for its international footprint. Yum will surpass 60,000 places, CEO David Gibbs stated in a press release, together with a KFC footprint of greater than 30,000 eating places and a Pizza Hut tally of past 20,000.


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