Yum Brands Inc

YUM: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$597.00	Dxsks	Lhtbfmbry

Yum Earnings: Signs of Demand Weakening Overshadow Decent Quarterly Results

Sean Dunlop

Aug 6, 2024

Wide-moat Yum Brands reported decent second-quarter results, but softening comparable-store sales and signs of intensifying promotional activity at KFC and Pizza Hut suggest weaker near-term prospects. As we digest results, we expect to lower our $144 fair value estimate by a mid-single-digit rate, leaving shares trading in a range we'd consider fairly valued.

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