Yum! Brands (YUM) To Report Earnings Tomorrow: Here Is What To Expect
Stock Story
Published Oct 31, 2023 04:45AM ET
Updated Oct 31, 2023 07:32AM ET
Yum! Brands (YUM) To Report Earnings Tomorrow: Here Is What To Expect
Fast-food company Yum! Brands (NYSE:YUM) will be reporting earnings tomorrow before market open. Here's what to expect.
Last quarter Yum! Brands reported revenues of $1.69 billion, up 3.12% year on year, missing analyst expectations by 3.32%. It was a weak quarter for the company, with a miss of analysts' revenue estimates.
Is Yum! Brands buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Yum! Brands's revenue to grow 8.06% year on year to $1.77 billion, improving on the 2.12% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.27 per share.
The analysts covering the company have been growing increasingly bearish about the business heading into the earnings, with revenue estimates seeing five downward revisions over the last thirty days. The company missed Wall St's revenue estimates three times over the last two years.
Looking at Yum! Brands's peers in the restaurants segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. McDonald's (NYSE:MCD) delivered top-line growth of 14% year on year, beating analyst estimates by 2.16% and Domino's reported revenue decline of 3.86% year on year, missing analyst estimates by 1.99%. Domino's was down 2.05%.
Read the full analysis of McDonald's's and Domino's's results on StockStory.
The whole tech sector has been facing a sell-off, and while some of the restaurants stocks have fared somewhat better, they have not been spared, with share price declining 2.67% over the last month. Yum! Brands is down 4.15% during the same time, and is heading into the earnings with analyst price target of $140.8, compared to share price of $119.8.
The author has no position in any of the stocks mentioned.
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