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Stock impact report

Taco Bell parent Yum Brands shares slip after earnings miss [MarketWatch]

Yum! Brands, Inc. (YUM) 
Last yum! brands, inc. earnings: 4/29 07:00 am Check Earnings Report
US:NYSE Investor Relations: yum.com/investors
Company Research Source: MarketWatch
Yum Brands Inc. shares fell 2.3% in Wednesday premarket trading after the fast-food company reported first-quarter earnings that missed expectations. Net income totaled $83 million, or 27 cents per share, down from $262 million, or 83 cents per share, last year. Adjusted EPS of 64 cents missed the FactSet consensus of 67 cents. Yum paid an after-tax impairment charge of $107 million associated with the acquisition of The Habit Restaurants Inc. and the spread of the coronavirus, resulting in a special item totaling about 35 cents per share. Revenue of $1.26 billion was up slightly from $1.25 billion last year and ahead of the FactSet outlook for $1.22 billion. Same-stores sales fell 7% versus the FactSet consensus for a 6.8% decline. KFC was down 8%, Pizza Hut was down 11% and Taco Bell same-store sales rose 1%. David Gibbs, Yum Brands chief executive, said the company's locations largely remained open despite the spread of the coronavirus. Yum borrowed $525 million under its revolving Show less Read more
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