=Yum China (YUMC) reported earnings on Tue 30 Oct 2018 (a/h)

Yum China beats by $0.05, misses on revs

Reports Q3 (Sep) earnings of $0.51 per share, $0.05 better than the S&P Capital IQ Consensus of $0.46; revenues rose 3.8% year/year to $2.21 bln vs the $2.24 bln S&P Capital IQ Consensus.

Total system sales grew 4% year over year, with 6% growth at KFC partially offset by 2% decline at Pizza Hut, excluding F/X.

Same-store sales declined 1% year over year, with a 1% increase at KFC and a 5% decrease at Pizza Hut, excluding F/X.

Restaurant margin was 17.6%, as compared with 18.0% in the prior year period.

Share Repurchase Authorization Increased by $850 million to an Aggregate of $1.4 billion

Co stated, "Pizza Hut recorded a 5% decline in same-store sales during the quarter, as healthy growth in delivery was offset by lower dine-in traffic. We made further progress on the revitalization program as we launched a refreshed brand identity, improved our value proposition, expanded our digital capabilities to include tableside ordering via mobile, and generated greater delivery traffic through our own channels."