Yum! Brands completes Pizza Hut divestiture to Yum China and LongRange Capital, records ~$1.7B pre-tax gain

Yum! Brands completed its Pizza Hut divestiture to Yum China and LongRange Capital, recording a pre-tax gain of about $1.7 billion. Q3 adjusted EPS of $1.56 beat the $1.51 consensus; GAAP EPS of $5.92 was driven by the divestiture gain. KFC comparable sales rose 1% while Taco Bell fell 4% on a summer cyclosporiasis outbreak.

Detected & updated continuously · Source: Nebula