=Yum! Brands (YUM) reported earnings on Wed 3 May 2017 (b/o)

Yum! Brands beats by $0.06, beats on revs :

• Reports Q1 (Mar) earnings of $0.65 per share, $0.06 better than the Capital IQ Consensus of $0.59. Yum! Brands prelim Worldwide system sales grew 5% driven by 2% same-store sales growth and 3% net-unit growth.
  • Worldwide system sales grew 5% driven by 2% same-store sales growth and 3% net-unit growth.
  • Taco Bell Division same-store sales grew 8% driven by industry-leading value and innovation; Core operating profit grew 19%.
  • KFC Division delivered double-digit core operating profit growth of 13% driven by same-store sales growth, franchise net-unit development and decreased G&A.
• "Our strategic transformation of Yum! Brands is already well underway, helping us deliver a solid start to 2017 with core operating profit growth of 9% in the first quarter. This growth was led by Taco Bell's impressive same-store sales growth of 8% and double-digit core operating profit growth at KFC, partially offset by weakness at Pizza Hut U.S. We remain confident that our multi-year strategy to be more focused, more franchised and more efficient will further strengthen our brands, accelerate growth, increase consistency in our results and increase capital returns."