Yum Brands on Tuesday reported earnings that beat expectations, but a cyclospora outbreak linked to iceberg lettuce at Taco Bell weighed on the company’s same-store sales growth.
However, Yum said Taco Bell, which the company considers a “growth engine” for its business, has since rebounded.
“Since the end of September, Taco Bell U.S. has been outpacing the [quick-service restaurant] industry on same-store sales growth,” Yum CEO Chris Turner said in a statement.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: $1.56 adjusted vs. $1.49 expected
- Revenue: $2.05 billion vs. $2.05 billion expected
Yum reported fiscal third-quarter net income of $1.62 billion, or $5.92 per share, up from $397 million, or $1.41 per share, a year earlier.
Excluding gains from its divestiture of Pizza Hut and other items, the restaurant company earned $1.56 per share.
Net…
