Yum Brands (NYSE:YUM) on Wednesday reported mixed quarterly results as Taco Bell’s and Pizza Hut’s same-store sales disappointed.
Earnings per share proved $1.41 adjusted vs. $1.24 expected.
Revenue came in at $1.69 billion vs. $1.75 billion expected.
The restaurant company reported second-quarter net income of $418 million, or $1.46 per share, up from $224 million, or 77 cents per share, a year earlier.
Excluding expenses related to its exit from Russia, refranchising gains and other items, Yum earned $1.41 per share.
Net sales rose 3% to $1.69 billion. The company’s digital sales increased nearly 30% in the quarter, accounting for nearly half of orders.
Yum Brands’ same-store sales grew 9% in the quarter, topping estimates of 6.9%.
KFC’s same-store sales climbed 13%, fueled by returning demand in China, its largest market. KFC’s system sales in China soared 32%, while its U.S. system sales rose 5%.
Pizza Hut reported same-store sales growth of 4%, missing estimates of 6.3%. The pizza chain’s domestic same-store sales rose just 1%.
Taco Bell’s same-store sales also rose 4%, falling short of estimates of 4.3%. Its U.S. same-store sales increased 4%, but its international same-store sales shrank 1% in the quarter.
YUM shares lost 85 cents to $135.48.
