<p>LOUISVILLE, Ken. — Profit for the company that runs Pizza Hut, Taco Bell and KFC restaurants more than tripled during the first quarter and same-store sales surged as coronavirus restrictions began to lift this year. </p>
<p>Yum Brands earned $326 million, or $1.07 per share, for the period ended March 31, which last year was marked by exploding COVID-19 infections in the U.S. In that three-month stretch last year, the company’s profit fell to $83 million, compared with $262 million in the same three months in 2019.</p>
<p>So the bounce back for the company’s restaurants was better than pre-pandemic levels. Wall Street analysts had projected per-share earnings of 85 cents this quarter, according to a survey by Zacks Investment Research, which Yum beat by 22 cents. </p>
<p>Revenue jumped 18% to $1.49 billion, also beating expectations. </p>
<p>Sales at stores open at least a year, a key gauge of a restaurant operator’s health, climbed 9%. KFC’s same-store sales increased 14% in the U.S., while Pizza Hut’s grew 16%. Those results were double its performances overseas. </p>
<p>Shares rose more than 1% before the opening bell Wednesday. </p>
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<p>Elements of this story were generated by Automated Insights (<a href="http://automatedinsights.com/ap">http://automatedinsights.com/ap</a>) using data from Zacks Investment Research. Access a Zacks stock report on YUM at <a href="https://www.zacks.com/ap/YUM">https://www.zacks.com/ap/YUM</a></p>
