Taco Bell’s parent company, Yum Brands, beats earnings estimates due to sales growth in the US
A Taco Bell location in New York.
Scott Mlyn | CNBC
Yum Brands reported quarterly results on Wednesday that squeezed analyst expectations as U.S. consumers returned to their restaurants.
The company’s shares rose less than 1% in premarket trading.
The company reported, relative to Wall Street expectations based on an analyst survey by Refinitiv:
- Earnings per share: $ 1.07 adjusted versus 87 cents expected
- Revenue: $ 1.49 billion versus $ 1.45 billion expected
The company reported that fiscal first quarter net income rose to $ 326 million, or $ 1.07 per share, from $ 83 million, or 27 cents per share, a year earlier.
Excluding items, Yum earned $ 1.07 per share, beating the analysts surveyed by Refinitiv at 87 cents per share.
Net sales rose 18% to $ 1.49 billion, beating expectations of $ 1.45 billion.