- Yummy! brands inc Yummy reported Fourth quarter FY22 revenue growth of 7% year over year to $2.02 billion, beating the consensus of $1.92 billion.
- Global same-store sales rose 6% in the quarter, with the KFC division up 5%, Taco Bell up 11% and Pizza Hut up 1%.
- Global system sales excluding currency translation were up 8%, with KFC up 6%, Taco Bell up 14% and Pizza Hut up 4%.
- Franchise and real estate revenue increased 8% to $885 million, and company revenue increased 5% year over year to $624 million.
- Total costs and spend increased 4% year over year to $1.4 billion. Operating margin was 28.6% and operating income increased 15% to $578 million for the quarter.
- Yummy! Brand’s net cash from operations totaled $1.4 billion for the year. As of December 31, 2022, it held $367 million in cash and equivalents.
- Adjusted earnings per share of $1.31 beat analyst consensus of $1.26.
- The company’s board of directors increased the quarterly dividend to $0.605 per common share. The quarterly dividend will be paid on March 10, 2023 to shareholders of record on February 22, 2023.
- David Gibbs, CEO, said: “Despite a challenging environment, with digital sales of $24 billion, we delivered widespread systems revenue growth of 8% excluding Russia, demonstrating that our iconic brands are more relevant, simpler and more distinctive than ever.”
- also read: Yummy! According to Brands, 300 British restaurants were hit by a cyber attack
- The company said it incurred some additional costs related to remediating and investigating the ransomware attack in January, but doesn’t expect those costs to be material.
- Price promotion: YUM shares trade up 0.82% at $130.40 on the last check Wednesday.
© 2023 Benzinga.de. Benzinga does not provide investment advice. All rights reserved.
[ad_2]
Source story
