YUMC - Yum China Non-GAAP EPS of $0.13 in-line revenue of $2.09B misses by $220M
- Yum China press release ( NYSE: YUMC ): Q4 Non-GAAP EPS of $0.13 in-line.
- Revenue of $2.09B (-8.7% Y/Y) misses by $220M .
- Total system sales decreased 4% year over year, with decreases of 1% at KFC and 6% at Pizza Hut, excluding F/X.
- Same-store sales decreased 4% year over year, with decreases of 3% at KFC and 8% at Pizza Hut, excluding F/X.
- Opened 538 net new stores during the quarter.
- Restaurant margin was 10.4%, compared with 7.5% in the prior year period.
- Operating Profit decreased 94% year over year to $41 million from $633 million (a 93% decrease excluding F/X), primarily due to the non-cash re-measurement gain of $618 million from the consolidation of Hangzhou in the fourth quarter of 2021.
- Adjusted Operating Profit increased 152% year over year to $40 million from $16 million (a 189% increase excluding F/X).
- 2023 Outlook: To open approximately 1,100 to 1,300 net new stores and to make capital expenditures in the range of approximately $700 million to $900 million.
For further details see:
Yum China Non-GAAP EPS of $0.13 in-line, revenue of $2.09B misses by $220M