Shares of Yum! Brands, Inc. YUM tanked in early trading on Wednesday, after the company reported downbeat third-quarter earnings.
In its Q3 earnings call on Tuesday (Nov. 5), Yum! Brands pointed to the more than 2 million orders through voice AI at its Taco Bell restaurants as an example of how its brands use tech to reach consumers.
YUM's third-quarter 2024 results reflect increased contributions from the KFC and Taco Bell divisions amid high costs and expenses.
Shares of Yum! Brands (YUM) advanced as the restaurant chain operator got a boost from its Taco Bell franchise.
Yum! Brands, Inc. (NYSE:YUM ) Q3 2024 Earnings Conference Call November 5, 2024 7:45 AM ET Company Participants Matt Morris - Head, Investor Relations David Gibbs - CEO Chris Turner - CFO Conference Call Participants Gregory Francfort - Guggenheim Securities Brian Bittner - Oppenheimer Jon Tower - Citi Dennis Geiger - UBS David Palmer - Evercore ISI John Ivankoe - JPMorgan David Tarantino - Baird Operator Welcome, everyone, to the Yum! Brands 2024 Third Quarter Earnings Call.
The headline numbers for Yum (YUM) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Yum Brands (YUM) came out with quarterly earnings of $1.37 per share, missing the Zacks Consensus Estimate of $1.41 per share. This compares to earnings of $1.44 per share a year ago.
KFC, Pizza Hut and Taco Bell owner Yum! Brands Inc (NYSE:YUM) served up a smaller portion of earnings for the past quarter than Wall Street expected, which it blamed on geopolitical conflicts and a difficult consumer environment.
Only Taco Bell managed same-store sales gains.
KFC and Pizza Hut both reported steeper-than-expected declines in their same-store sales.
YUM's third-quarter 2024 top line is likely to have been aided by expansion efforts domestically and internationally and a consistent focus on affordable and unique menu items.
Get a deeper insight into the potential performance of Yum (YUM) for the quarter ended September 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.