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Pizza Hut Parent Yum! Brands Q4 Earnings Exceed Expectations, Hikes Dividend

Shivani Kumaresan
·2 分鐘文章

  • Yum! Brands Inc (NYSE: YUM) reported fourth-quarter FY22 sales growth of 7% year-on-year to $2.02 billion, beating the consensus of $1.92 billion.

  • Worldwide same-store sales for the quarter grew 6%, KFC Division increased 5%, Taco Bell climbed 11%, and Pizza Hut gained 1%.

  • Worldwide system sales excluding foreign currency translation, grew 8%, with KFC at 6%, Taco Bell at 14%, and Pizza Hut at 4%.

  • Franchise and property revenues increased 8% to $885 million, and Company sales grew 5% Y/Y to $624 million.

  • Total costs and expenses increased 4% Y/Y to $1.4 billion. The operating margin was 28.6%, and operating income for the quarter gained 15% to $578 million.

  • Yum! Brands' net cash from operating activities for the year totaled $1.4 billion. It held $367 million in cash and equivalents as of Dec. 31, 2022.

  • Adjusted EPS of $1.31 beat the analyst consensus of $1.26.

  • The company's Board of Directors increased the quarterly dividend to $0.605 per share of common stock. The quarterly dividend will be distributed Mar. 10, 2023 to shareholders of record on Feb. 22, 2023.

  • David Gibbs, CEO, said, "Despite a challenging environment, we achieved widespread system sales growth of 8% excluding Russia with $24 billion in digital sales, demonstrating that our iconic brands are more relevant, easy and distinctive than ever."

  • Also Read: Yum! Brands Says Cyber Attack Affected 300 UK Restaurants

  • The company said it incurred some incremental expenses relating to the remediation and investigation of the January ransomware attack but does not expect such expenses to be material.

  • Price Action: YUM shares are trading higher by 0.82% at $130.40 on the last check Wednesday.

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This article Pizza Hut Parent Yum! Brands Q4 Earnings Exceed Expectations, Hikes Dividend originally appeared on Benzinga.com

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