Yum Brands Inc.’s stock YUM is down 2.4% in premarket trades after the fast food company said its first-quarter profit fell short of Wall Street estimates. Yum Brands said its first-quarter earnings dropped to $300 million, or $1.05 a share, from $399 million, or $1.36 a share in the year-ago quarter. Adjusted earnings of $1.06 a share missed the estimate of $1.13 a share, according to estimates compiled by FactSet. Revenue increased to $1.65 billion from $1.55 billion, and beat the analyst forecast of $1.62 billion. Yum Brands said it completed its exit from Russia on April 17. The latest quarter included a cost of 7 cents a share for mark-to-market impact from unrealized investment losses and a negative 8 cents a share impact from foreign currency translation. Yum Brands operates Pizza Hut, KFG and Taco Bell restaurants.
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