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.

Comments are closed.