Yum! Brands (YUM) reported third quarter results that missed analyst estimates but showed strength in its Taco Bell business. Citi's director and restaurant analyst Jon Tower joins Catalysts Hosts Seana Smith and Madison Mills to discuss the results and how Taco Bell's strength was the standout in the report as Pizza Hut and KFC fell.

"Taco Bell US is on fire. I mean, they're killing it with everyday value, with some abundant value, and they seem to be working very well, resonating very well with consumers on innovation. And so that's helping offset some of the softness we're seeing globally, which is fairly widespread across the different brands, across the different markets, whether it's driven by macro pressures, still continued issues going on in the Middle East tied to everything that's going on over there. It's hard for the company to kind of push through with its brands to win some traffic in that kind of context," Tower tells Yahoo Finance.

The analyst says Taco Bell is "really unique ... There's really no one else out there that competes directly with them." He adds, "They seem to be on a pretty fast track to continue to innovate on an effectively once-a-month basis with some fairly large campaigns. And they're hitting at the high end. They're hitting at the low end. They're really just connecting with effectively all customers across all income cohorts with this news that they're driving."

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This post was written by Naomi Buchanan.