Earnings ·
YUM Brands reports Q3 EPS of $5.92, completes Pizza Hut divestiture for ~$1.7B gain
YUMYum Brands Inc
YUM! Brands reported third-quarter GAAP diluted earnings per share of $5.92, compared to $1.41 in the prior year period, driven by a pre-tax gain of approximately $1.7 billion from the divestiture of Pizza Hut. The company completed the sale of the Pizza Hut brand in mainland China to Yum China and the international Pizza Hut business to LongRange Capital during the quarter. Excluding special items, EPS was $1.56. KFC division system sales grew 6% excluding foreign currency, while Taco Bell U.S. same-store sales declined 4%. The company returned $1.8 billion to shareholders through dividends and share repurchases year-to-date. YUM! Brands is a leading global restaurant franchisor operating iconic brands including KFC, Pizza Hut, Taco Bell, and Habit Burger & Grill.