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LOUISVILLE - Yum! Brands (NYSE:YUM), Inc reported fourth-quarter earnings on Thursday that met analyst expectations, while revenue for the period matched consensus estimates.
The fast-food restaurant operator, which owns KFC, Taco Bell, and Pizza Hut, saw strong same-store sales growth at Taco Bell and continued international expansion for KFC.
Yum! Brands reported adjusted earnings per share of $1.61 for the fourth quarter, in line with analyst estimates. Revenue for the quarter came in at $2.36 billion, matching the consensus forecast.
Worldwide system sales grew 8% YoY excluding foreign currency translation, with KFC up 6%, Taco Bell up 14%, and Pizza Hut up 3%. Taco Bell U.S. delivered same-store sales growth of 5% in the fourth quarter, which the company said "meaningfully outpaced the industry."
"2024 was marked with exceptional core operating profit growth given the complex consumer environment," said David Gibbs, CEO of Yum! Brands. "Our twin growth engines remain strong with Taco Bell U.S. delivering same-store sales growth of 5% in the fourth quarter, meaningfully outpacing the industry, and KFC International delivering its second consecutive year with over 2,000 net new units."
For the full year 2024, Yum! Brands reported GAAP EPS of $5.22 and adjusted EPS of $5.48, representing a 6% increase. The company opened 4,535 new stores across more than 100 countries throughout the year.
Yum! Brands also announced the launch of Byte by Yum!, its proprietary Software (ETR:SOWGn) as a Service digital ecosystem, which is currently being used in 25,000 of its restaurants worldwide.
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