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Market Update

After the Bell: Yum Earnings on Tap

Will Taco Bell again weigh on second-quarter U.S. sales?

Jul 13, 2011

Restaurant firm Yum Brands (YUM), owner of KFC, Pizza Hut, and Taco Bell fast-food chains, reports second-quarter earnings after the bell Wednesday. A survey of Wall Street analysts expects the firm to report earnings per share of $0.61, compared with $0.59 in the year-ago quarter.

The company fell short of Wall Street estimates in the first quarter, a rare occurrence, after a lawsuit relating to meat-content quality in some Taco Bell products negatively affected profitability. But with the lawsuit now out of the way, analysts will look to see if the firm is making up for the loss in sales.

As usual, Yum's growth in China will be in focus, and investors might likely seek management comments on the possible impact of rising competition from McDonald's (MCD) in the country and also how Yum managed to deal with higher input costs.

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