Yum! Brands, the fast food conglomerate, reported mixed Q3 earnings results. While the company beat on EPS, it missed on revenue due to lower sales at Pizza Hut. However, Taco Bell and KFC continue to drive growth for Yum! Brands. Taco Bell's transaction growth in the U.S. was up 2-3% across all income levels. Yum Brands' results were boosted by menu promotions at Taco Bell and KFC. The company faces 'more pressure' on consumers as a result of these deals. In related news, Wendy's comps were up 2.2% in the U.S., while Starbucks saw an 8% increase in comps. Wendy's stock rose by 3% in premarket trading. Burger King's underperformance contributed to Restaurant Brands' revenue missing estimates.
Restaurant Brands' revenue misses estimates, hurt by Burger King's underperformance https://t.co/FURbmDCbJx
$WEN (+0.5% pre) Wendy's (NASDAQ:WEN) Misses Q3 Sales Targets https://t.co/d4hIfDW0ZT
Premarket stock movement: Wendy's +3% Starbucks +8% Shake Shack +8% Papa Johns Flat $PZZA $SHAK $SBUX $WEN
Deleted a previous tweet on same-store sales because the Wendy's data was wrong. Wendy's comps up 2.2%. U.S. comps: Starbucks: 8% (2% transactions) Papa Johns: 3% (mostly traffic) Shake Shack: 2.3% Portillo's: 3.9% $WEN $PZZA $SHAK $SBUX
Lower Pizza Hut sales took a slice out of Yum! Brands Q3 earnings results. The fast food conglomerate posted a beat on EPS but missed on revenue today. Pizza Hut's lackluster sales brought down numbers, but KFC and Taco Bell continue to drive sales for Yum! Brands. https://t.co/UAU9wLF4xg
Taco Bell, KFC deals boost Yum Brands sales: ‘More pressure’ on consumers https://t.co/WCbFHLymS9 https://t.co/0a7W909odK
Yum Brands results beat on Taco Bell, KFC menu promotions https://t.co/lmRuxJC0FC https://t.co/ln5LNcAbDH
Yum! Brands misses on revenue, Pizza Hut sales slow while Taco Bell, KFC drive growth https://t.co/namolgeDwq by @BrookeDiPalma
Taco Bell transaction growth up 2-3% across all income levels in the U.S. $YUM