Yum Brands Reports Q1 2013 EPS Down 8%, Warns of Bird Flu Outbreak
Posted on April 24, 2013Yum Brands, which owns fast food chains including KFC, Pizza Hut and Taco Bell, recently reported its results for its first quarter ending March 23, 2013. Reported EPS was $0.72 for the quarter. This was down 24% from the $0.96 EPS recorded in Q1 2012.
Yum Brands says a poultry supply situation in late December 2013 had a big impact on its China division sales. Same-store sales were down 20% in China. However, same-store sales grew !% at Yum! Restaurants International (YRI) and 2% in the U.S.
Motley Fool says Yum! shares look delicious. With the H7N9 avian flu outbreak in China the company may continue to struggle there, but should recover if the outbreak ebbs. CBS Money Watch reports that Yum is warning about the bird flu outbreak and its potential to curb sales. The outbreak has killed 22 so far. The sale figures do look good outside of China for Yum!.
Yum Brand's 2012 annual report can be found here (PDF).