Financial Data and Key Metrics Changes - Yum! Brands reported a 6% growth in core operating profit for Q1 2024, despite a challenging operating environment [7][25] - System sales grew by 2% driven by 6% unit growth, with same-store sales impacted by prior year comparisons and external factors [25][26] - First quarter ex-special EPS was $1.15, reflecting negative impacts from investment losses and foreign currency translation [26] Business Line Data and Key Metrics Changes - KFC division, accounting for 51% of divisional operating profit, saw system sales grow by 4% due to 8% unit growth, but same-store sales declined by 2% [9][10] - Taco Bell U.S. system sales grew by 4%, with same-store sales up by 2%, following a strong previous year [11][12] - Pizza Hut division experienced a 4% decline in system sales, with a 7% decline in same-store sales [13][14] Market Data and Key Metrics Changes - Latin America reported a 22% growth in system sales, while Africa saw an 11% increase, indicating strong performance in these regions [9][10] - KFC International's system sales grew by 6%, with a notable 26% growth in same-store sales in Korea [10][51] Company Strategy and Development Direction - The company is focused on its Good Growth strategy, emphasizing digital and technology advancements to enhance franchisee support and consumer experience [15][20] - Yum! Brands aims to achieve at least 8% core operating profit growth for the full year, leveraging unit development and digital sales [8][40] - The company is committed to expanding its digital platforms, with over 50% of sales now coming from digital channels [17][20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by the Middle East conflict but noted improvements in the most affected markets [7][8] - The company is optimistic about Taco Bell's positioning in the U.S. market, highlighting its value leadership amid changing consumer preferences [61][62] - Management expressed confidence in achieving strong unit development and maintaining a resilient business model despite external pressures [41][40] Other Important Information - The acquisition of 218 KFC franchise restaurants in the UK and Ireland was completed, expected to add approximately $40 million in EBITDA over the next year [27] - The company is enhancing its technology capabilities, with over 40 AI initiatives in progress across various functions [20][21] Q&A Session Summary Question: Insights on G&A expenses and long-term targets - Management expects ex-special G&A to be flat to slightly down, with ongoing resource optimization efforts contributing to efficiency [44][45] Question: Global same-store sales expectations for 2024 - Management is preparing for various scenarios to achieve the 8% core operating profit target, emphasizing development over same-store sales [48] Question: Highlights of KFC and Pizza Hut International performance - KFC International reported strong growth in regions less impacted by external conflicts, while Pizza Hut faced challenges but showed positive trends in certain markets [51] Question: Digital and technology spend impact on G&A growth - Management anticipates increasing leverage on G&A as technology adoption grows, aiming for a reduction in G&A as a percentage of system sales over the long term [54] Question: U.S. brand positioning and strategy shifts - Taco Bell is well-positioned for growth, while KFC in the U.S. is undergoing a brand reset to improve its market presence [61][62] Question: Sales performance relative to expectations - Q1 sales were generally in line with expectations, with Taco Bell showing signs of strength moving into Q2 [68]

YUM! Brands, Inc. (YUM) reported first-quarter 2024 results, with earnings and revenues missing the Zacks Consensus Estimate. Revenues missed the consensus estimate for the fourth straight quarter.Following the results, shares of the company declined 4.4% in the pre-market trading session on May 1.Earnings and Revenue DiscussionYUM’s adjusted earnings per share (EPS) came in at $1.15, lagging the Zacks Consensus Estimate of $1.20. However, the metric increased 9% year over year.Quarterly revenues of $1,598 ...

Yum Brands (YUM) reported $1.6 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 2.9%. EPS of $1.15 for the same period compares to $1.06 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.72 billion, representing a surprise of -7.14%. The company delivered an EPS surprise of -4.17%, with the consensus EPS estimate being $1.20.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how the ...

Yum Brands (YUM) came out with quarterly earnings of $1.15 per share, missing the Zacks Consensus Estimate of $1.20 per share. This compares to earnings of $1.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -4.17%. A quarter ago, it was expected that this parent company of KFC, Taco Bell and Pizza Hut would post earnings of $1.39 per share when it actually produced earnings of $1.26, delivering a surprise of -9.35%.Over the ...

A Pizza Hut store is seen on November 01, 2023 in Austin, Texas.Yum Brands on Wednesday reported quarterly earnings and revenue that missed analysts' expectations as Pizza Hut and KFC struggled to attract customers.Shares of the company fell 3% in premarket trading.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: $1.15 adjusted vs. $1.20 expectedRevenue: $1.6 billion vs. $1.71 billion expectedYum reported first-quarter n ...

NEWS Yum! Brands Reports First-Quarter Results KFC International +10% Unit Growth; Taco Bell U.S. SSSG +2%; Record Digital System Sales Mix of Over 50% Louisville, KY (May 1, 2024) - Yum! Brands, Inc. (NYSE: YUM) today reported results for the first quarter ended March 31, 2024. Worldwide system sales, excluding foreign currency translation, grew 2%, with 6% unit growth and a 3% same-store sales decline. First- quarter GAAP operating profit declined 1% and first-quarter core operating profit grew 6%. First- ...

YUM! Brands, Inc. (YUM) is scheduled to report first-quarter 2024 results on May 1, before the opening bell. In the last reported quarter, the company’s bottom line missed the Zacks Consensus Estimate by 9.4%.Q1 EstimatesThe Zacks Consensus Estimate for earnings per share is pegged at $1.20, indicating an increase of 13.2% from the prior-year quarter's level. In the past seven days, the consensus estimate for first-quarter earnings has witnessed a downward revision of 0.8%. The Zacks Consensus Estimate for ...

Analysts on Wall Street project that Yum Brands (YUM) will announce quarterly earnings of $1.20 per share in its forthcoming report, representing an increase of 13.2% year over year. Revenues are projected to reach $1.72 billion, increasing 4.6% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. ...

The finger lickin' good taste of KFC with deals every day, plus $10 TuesdaysLOUISVILLE, Ky. , April 8, 2024 /PRNewswire/ -- KFC is bringing its beloved 11 herbs and spices to an all-new "Taste of KFC Deals" value menu available starting today, with flavor-packed meal deals starting at just $4.99*.It's been 30 years since food ate up this much of people's incomes, and 56% of consumers are budgeting their finances more now due to inflation.** These deals are tailor-made to fit right into your loud budget – sa ...

Yum! Brands Inc. (YUM) is on a trajectory of remarkable growth as its flagship brand, KFC, reaches a significant milestone with the inauguration of its 30,000th restaurant in Rome, Italy. This achievement underscores KFC's relentless global expansion efforts since its inception in 1952. With an average opening of one restaurant every 3.5 hours worldwide, KFC's presence spans across 149 countries and plans to enter its 150th later this year.The strategic expansion solidifies KFC's position as the fastest-gro ...