Yum Brands (NYSE: YUM) reported fourth-quarter earnings of $1 per share Thursday, missing the analyst consensus estimate of $1.14 by 12.28%.
This is a 150% increase over earnings of 40 cents per share from the same period last year.
The company reported quarterly sales of $1.694 billion, beating the analyst consensus estimate of $1.66 billion by 2.05%. This is an 8.73% increase over sales of $1.558 billion in the same period last year.
"Fourth-quarter results were a solid end to the year where we met or exceeded each component of our guidance, including full-year 2019 core operating profit growth, which was an increase of 12%, or 11% excluding the 53rd week," CFO Chris Turner said in a statement.
“I'm especially pleased that we opened over 1,000 net new units in the fourth-quarter alone. We've emerged from our transformation a stronger company, and I look forward to accelerating the growth of our iconic brands, championing the customer experience and unlocking further value for our stakeholders."
Yum China Holdings Inc (NYSE: YUMC), which spun off from Yum, said Wednesday that it has been impacted by the coronavirus.
Yum China said that it has temporarily closed more than 30% of its stores as it seeks to protect employees and customers from the impact of the virus. The separate company reported 40-50% reduced sales year-on-year in the restaurants that have remained open since the Lunar New Year.
Yum Brands shares were trading down 4.48% at $102 in Thursday’s premarket session. The stock has a 52-week high of $119.72 and a 52-week low of $88.52.
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