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Oct. 30, 2019, 7:17 a.m. EDT

Taco Bell parent Yum Brands stock sinks after earnings miss

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By Tonya Garcia

Yum Brands Inc. /zigman2/quotes/209029767/composite YUM +0.28% stock fell 7% in Wednesday premarket trading after the restaurant company reported third-quarter earnings that missed expectations. Net income totaled $255 million, or 81 cents per share, down from $454 million, or $1.40 per share, last year. Adjusted EPS of 80 cents missed the FactSet guidance for 96 cents. Revenue was $1.34 billion, down from $1.39 billion but in line with the FactSet consensus. Same-store sales growth was 3%, below the 3.3% FactSet guidance. Same-store sales at KFC rose 3%, Taco Bell saw 4% growth, and Pizza Hut was even. Chief Executive Greg Creed will step down from his position with Chief Operating Officer David Gibbs succeeding him, effective Jan. 1, 2020. Yum Brands stock has rallied 19.4% for the year to date while the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.0073% has gained 21.1% for the period.

/zigman2/quotes/209029767/composite
US : U.S.: NYSE
$ 100.11
+0.28 +0.28%
Volume: 1.20M
Dec. 13, 2019 6:30p
P/E Ratio
27.77
Dividend Yield
1.68%
Market Cap
$30.28 billion
Rev. per Employee
$167,294
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/zigman2/quotes/210599714/realtime
US : S&P US
3,168.80
+0.23 +0.0073%
Volume: 1.96B
Dec. 13, 2019 5:14p
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