Yum China Q3 Earnings Surprise: KFC & Pizza Hut Power Earnings Beat, Reiterates Capex Plan To Open ~1,500-1,700 Net New Stores
Yum China Q3 Earnings Surprise: KFC & Pizza Hut Power Earnings Beat, Reiterates Capex Plan To Open ~1,500-1,700 Net New Stores
Yum China Holdings, Inc. (NYSE:YUMC) shares are trading higher after the company reported third-quarter results.
百勝中國控股有限公司(紐約證券交易所代碼:YUMC)公佈第三季度業績後,股價走高。
Revenue increased 5% year over year to $3.07 billion, beating the consensus of $3.05 billion.
收入同比增長5%,達到30.7億美元,超過了市場預期的30.5億美元。
Total system sales rose 4% year over year, excluding currency effects, due to a 7% increase in net new units.
不計匯率影響,系統總銷售額同比增長4%,這是由於淨新增單位增長7%。
Same-store sales were at 97% of last year's level, with same-store transactions up 1% in the quarter.
同店銷售額爲去年水平的97%,同店交易量在本季度增長了1%。
Yum China's delivery sales rose 18% year-over-year, continuing the double-digit annual growth trend the company has maintained for over a decade.
百勝中國的送貨銷售額同比增長18%,延續了該公司十多年來一直保持的兩位數年增長趨勢。
Digital sales hit $2.61 billion in the quarter, with digital ordering comprising about 90% of total company sales.
本季度數字銷售額達到26.1億美元,其中數字訂購約佔公司總銷售額的90%。
KFC's system sales grew 6%, driven by an 8% contribution from new units, while Pizza Hut's system sales rose 2%, also boosted by a 7% increase from new units.
肯德基的系統銷售額增長了6%,這得益於新單位的8%,而必勝客的系統銷售額增長了2%,也受新單位增長7%的推動。
Core operating profit grew 18% to $369 million, with a margin of 12.1% vs. 10.7% a year ago quarter. Adjusted EPS of $0.77 surpassed the street view of $0.68.
核心營業利潤增長了18%,達到3.69億美元,利潤率爲12.1%,去年同期爲10.7%。調整後的每股收益爲0.77美元,超過了0.68美元的街景。
As of September 30, 2024, the total store count was 15,861, comprising 11,283 KFC and 3,606 Pizza Hut locations.
截至2024年9月30日,門店總數爲15,861家,包括11,283家肯德基和3,606家必勝客門店。
The company added 438 net new stores in the quarter, with 145 opened by franchisees.
該公司在本季度淨增加了438家新門店,其中145家由加盟商開業。
In the third quarter, Yum China returned $248 million to shareholders through share repurchases and cash dividends.
在第三季度,百勝中國通過股票回購和現金分紅向股東返還了2.48億美元。
Buyback: In November 2024, Yum China's board raised the company's share repurchase authorization by $1 billion, totaling $4.4 billion in buyback capacity since 2017.
回購:2024年11月,百勝中國董事會將公司的股票回購授權提高了10億美元,自2017年以來總回購能力爲44億美元。
By November 1, Yum China repurchased about 71.8 million shares for $3.0 billion, leaving $1.4 billion in remaining authorization.
截至11月1日,百勝中國以30億美元的價格回購了約7180萬股股票,剩餘的授權金額爲14億美元。
Dividend: The board declared a cash dividend of $0.16 per share, payable on December 17, 2024, to shareholders of record on November 26, 2024.
股息:董事會宣佈向2024年11月26日的登記股東派發每股0.16美元的現金股息,將於2024年12月17日支付。
Joey Wat, CEO of Yum China, said, "By optimizing our delivery strategy, we have captured more smaller order transactions and gained market share on aggregator platforms. Our breakthrough business models, side-by-side KCOFFEE Cafes and Pizza Hut WOW, enabled us to broaden our addressable market and capture new customer demand, reaching 500 and 150 stores, respectively."
百勝中國首席執行官喬伊·瓦特表示:「通過優化我們的交付策略,我們捕獲了更多小額訂單交易,並在聚合商平台上獲得了市場份額。我們的突破性商業模式,即KCOFFEE Cafes和Pizza Hut WOW,使我們能夠擴大潛在市場並捕捉新的客戶需求,分別達到500和150家門店。」
"We anticipate the franchise mix of net new stores will gradually increase to 40-50% for KFC and 20-30% for Pizza Hut over the next few years."
「我們預計,在未來幾年中,肯德基的淨新門店的特許經營組合將逐漸增加到40-50%,必勝客的特許經營組合將逐漸增加到20-30%。」
"With our confidence in our cash generating capabilities, we plan to step up capital returns to shareholders, increasing from $3 billion to $4.5 billion between 2024 and 2026."
「憑藉對現金產生能力的信心,我們計劃提高股東的資本回報率,在2024年至2026年之間從30億美元增加到45億美元。」
Outlook: Yum China reiterated FY24 targets to open 1,500 to 1,700 new stores, invest $700 million to $850 million in capital expenditures, and return $1.5 billion to shareholders through dividends and share repurchases.
展望:百勝中國重申了24財年的目標,即開設1,500至1700家新門店,投資7億至8.5億美元的資本支出,並通過分紅和股票回購向股東返還15億美元。
Investors can gain exposure to the stock via AdvisorShares Restaurant ETF (NYSE:EATZ) and Invesco Golden Dragon China ETF (NASDAQ:PGJ).
投資者可以通過AdvisorShares餐廳ETF(紐約證券交易所代碼:EATZ)和景順金龍中國ETF(納斯達克股票代碼:PGJ)獲得股票敞口。
Price Action: YUMC shares are up 10.1% at $49.60 premarket at the last check Monday.
價格走勢:在週一的最後一次檢查中,YUMC股價上漲10.1%,至盤前49.60美元。
Photo by aleks-dorohovich- for Unsplash
照片由 aleks-dorohovich-爲 Unsplash 拍攝
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繼續閱讀:
- Yum China Stock Bounces Back: Can Recent Rally Beat Short-Term Headwinds?
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譯文內容由第三人軟體翻譯。