YUMC - Why Restaurant Company Yum China's Shares Are Diving Today | Benzinga
Restaurant company Yum China Holdings Inc (NYSE: YUMC) shares are trading lower by over 12% after it reported Q3 FY23 results.
Revenues increased 9% Y/Y to $2.91 billion (+15% Y/Y in constant currency [c.c.]), missing the consensus of $3.06 billion.
System sales rose 15% Y/Y, with increases of 15% at KFC and 13% Y/Y at Pizza Hut in c.c, led by new unit contribution, same-store sales, and lapping of temporary closures in the prior year.
Same-store sales grew 4%, with increases of 4% at KFC and 2% at Pizza Hut in c.c.
Adjusted operating profit was up 3% Y/Y to $327 million (+10% Y/Y in c.c.).
Adjusted EPS increased 20% Y/Y ...