Yum! Brands Inc. (NYSE: YUM) Wednesday reported lower earnings for the first quarter of 2020, despite a modest increase in revenues. The bottom-line also missed analysts’ forecast, driving the stock lower during the pre-market trading session.
Earnings, on an adjusted basis, dropped to $0.64 per share from $0.82 per share in the first quarter of 2019. Unadjusted profit was $83 million or $0.27 per share, compared to $262 million or $0.83 per share a year earlier.
Total revenues, meanwhile, edged up 1% annually to $1.26 billion. There was a 7% fall in worldwide same-store sales. The top-line came in above the estimates, while earnings missed.
After falling to a three-year low last month, Yum! Brands shares are currently regaining strength. The stock declined 14% since last year. It closed the last trading session slightly higher.
While the markets got a boost a couple of weeks ago after Congress passed the new stimulus bill, investors seem to have adopted a cautious stance as details of the
After the initial lull, the renewables industry witnessed stable capacity addition during the pandemic, even as the lingering uncertainty underscored the need for energy self-reliance. Solar power companies like ReneSola
According to a report by the US Census Bureau, adjusted retail and food services sales totaled $540.9 billion in December 2020, down 0.7% from November 2020 but up 2.9% from