Yum Brands Earnings Beat Estimates as Cyclospora Outbreak Weighs on Taco Bell

According to CNBC, Yum Brands reported fiscal third-quarter adjusted earnings of $1.56 per share, above analysts’ $1.49 estimate, while revenue of $2.05 billion matched expectations. A cyclospora outbreak linked to iceberg lettuce weighed on Taco Bell’s same-store sales, which fell 4% as diners temporarily reduced visits. Yum CEO Chris Turner said in a statement that Taco Bell U.S. has outpaced the quick-service restaurant industry in same-store sales growth since the end of September. Yum’s net income was $1.62 billion, or $5.92 per share, compared with $397 million, or $1.41 per share, a year earlier. Net sales rose 4% to $2.05 billion.