Breaking News

Tweet TWEET

Yum Profit Rises 23% as U.S. Sales Climb

Yum! Brands Inc. (YUM), owner of the Taco Bell and KFC fast-food chains, said third-quarter profit increased 23 percent as sales climbed at U.S. locations.

Net income rose to $471 million, or $1 a share, from $383 million, or 80 cents, a year earlier, Louisville, Kentucky-based Yum said today in a statement. Profit excluding some items was 99 cents a share. Analysts projected 97 cents, the average of 22 estimates compiled by Bloomberg.

Yum, which has more than 18,000 domestic restaurants, said sales at U.S. stores open at least 12 months advanced 6 percent. Analysts estimated a sales gain of 4.4 percent, the average of projections compiled by Consensus Metrix.

Yum rose 3.8 percent to $68.52 at 4:12 p.m. in New York. The shares had gained 12 percent this year through the close of regular trading today.

Profit excluding some items will rise to at least $3.24 a share this year, up from a previous forecast for a minimum of $3.22, Yum said today.

To contact the reporters on this story: Leslie Patton in Chicago at lpatton5@bloomberg.net; Sapna Maheshwari in New York at sapnam@bloomberg.net

To contact the editor responsible for this story: Robin Ajello at rajello@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.