KFC Owner Yum Brands Sees Slower Sales Growth, Goldman Sachs Analyst Revises Forecast
KFC Owner Yum Brands Sees Slower Sales Growth, Goldman Sachs Analyst Revises Forecast
Yum! Brands, Inc. (NYSE:YUM) released earnings results for its second quarter Tuesday before the opening bell.
餐饮品牌国际（NYSE:YUM）周二开盘前公布了其第二季度财报。
Analysts covering the Louisville, Kentucky-based company provided their takes:
覆盖这家位于肯塔基州路易斯维尔市的公司的分析师们给出了他们的看法：
- Goldman Sachs analyst Christine Cho maintained the Neutral rating on Yum! Brands with a price forecast of $150.
- Piper Sandler analyst Brian Mullan reiterated the Neutral rating on Yum Brands with a price forecast of $140.
- BMO Capital Markets analyst Andrew Strelzik has a Market Perform rating on Yum! Brands, with a price forecast of $135.
- 高盛分析师克莉丝汀继续维持对百胜餐饮的中立评级，并预测目标股价为150美元。
- 派杰投资分析师布赖恩·马伦重申了对百胜餐饮的中立评级，并预测目标股价为140美元。
- 资本市场分析师安德鲁·斯特雷齐克对百胜餐饮给出了市场表现的评级，预计目标股价为135美元。
Also Read: US Stocks Set To Extend Gains Despite Mixed Earnings, VIX Dips Back Toward Pre-Sell-Off Levels: Analyst Says Pullback Is A 'Growth Scare' And Not 'Calamity'
此外，分析师表示，尽管业绩不佳，美国股市有望延续涨势，波动率指数（VIX）回落至抛售前水平。他表示，回调是“增长恐慌”，而不是“灾难”。
Goldman Sachs: Cho revised the EBITDA forecasts for FY24, FY25, and FY26 to $2.73 billion, $2.97 billion, and $3.26 billion, respectively, down from $2.73 billion, $2.99 billion, and $3.3 billion.
高盛公司：克莉丝汀调降了FY24、FY25和FY26的EBITDA预测，分别为27.3亿、29.7亿和32.6亿美元，较之前的预测分别下调了0、0.2和0.4亿美元。
This adjustment reflects slightly weaker same-store sales growth and revenue trends, which are somewhat mitigated by reduced general and administrative expenses.
这一调整反映了略微疲软的同店销售增长和收入趋势，但受降低的总管理费用所部分缓解。
Piper Sandler: Mullan writes that while the top line in the year's second half will be softer than management was forecasting at the beginning of the year, same-store sales will sequentially improve as the calendar moves from the second quarter to the third quarter and fourth quarter.
派杰投资：马伦写道，尽管今年下半年的营业额将低于管理层年初的预测，但同店销售将随着日历从第二季度转向第三季度和第四季度而逐步改善。
On top of that, the analyst notes that adjusted G&A dollars were down ~9 to 10% in the quarter, and management shared that it expects this line to be down on an FY2024 basis.
此外，该分析师指出，调整后的总管理费用在本季度下降了约9%至10%，管理层表示预计这一数值在FY2024基础上下降。
As the quarter concludes, analysts anticipate minimal changes to consensus-adjusted EPS estimates for 2024 through 2026. Any potential reductions in sales are expected to be roughly balanced by lower G&A expenses.
随着本季度的结束，分析师们预计2024年至2026年的调整后每股收益预测几乎不会有太多变化。销售额潜在的降低预计将大致平衡较低的总管理费用。
Mullan raised the FY25 revenue estimate to $8.078 billion from $7.952 billion.
马伦将FY25年的营业收入预估从79.52亿美元上调至80.78亿美元。
BMO Capital Markets: Yum Brands owns three major quick-service chains: Taco Bell, Pizza Hut and KFC.
资本市场：百胜餐饮拥有三个主要的快餐连锁品牌：塔可钟、必胜客和肯德基。
The company appears well-positioned to execute against its long-term growth algorithm over time, and its portfolio should be well-suited for a softer consumer spending environment.
该公司似乎有能力随着时间的推移执行其长期增长策略，其产品组合应该适合较软的消费环境。
The company continues to leverage G&A expenses to bolster its operating profit outlook.
该公司继续利用总管理费用来提高其营业利润的前景。
While optimistic about long-term fundamentals, the analyst currently prefers global fast-food peers such as Domino's Pizza Inc (NYSE:DPZ), McDonald's Corporation (NYSE:MCD), and Restaurant Brands International Inc. (NYSE:QSR).
虽然对长期基本面持乐观态度，但该分析师目前更喜欢像达美乐披萨公司（NYSE:DPZ）、麦当劳公司（NYSE:MCD）和餐饮品牌国际公司（NYSE:QSR）这样的全球快餐同行。
Strelzik expects the company to report FY24 revenues of $7.600 billion, and FY25 revenues of $8.093 billion.
斯特雷齐克预计该公司将在FY24年报告76亿美元的营业收入，FY25年报告80.93亿美元的营业收入。
Price Action: YUM shares are trading lower by 0.38% to $136.33 at last check Wednesday.
收益表现：YUm股票周三最后一次交易为136.33美元，下跌0.38%。
- Move Over Yen, Yuan Carry Trades Could Be Next Ticking Bomb, Warns Strategists: 'But It's Below The Danger Levels We Monitor'
- 日元让位，元可回报交易可能是下一个滴滴，策略师警告：“但它低于我们监测的危险水平”
Image: Unsplash
图片：Unsplash