Yum Brands beat earnings expectations with $1.62 per share—surpassing the $1.58 forecast—but revenue dipped slightly below projections. The company’s growth engine, Taco Bell, is facing headwinds from a cyclospora outbreak tied to iceberg lettuce, causing double-digit traffic declines. The ripple effect is hitting other fresh-lettuce users like Chipotle too. Still, global same-store sales rose 3%, with Taco Bell up 7% and KFC up 2%. Meanwhile, Yum is moving forward with selling Pizza Hut for $2.7 billion, reshaping its portfolio amid current challenges.
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