Brand Encourages Burger Enthusiasts to 'Cheat On Their Cheeseburger' With Offer for Free Cheeseburger Melts & PEPSI® in the Drive-Thru of Select Burger Chains Across the U.S.PLANO, Texas, May 14, 2024 /PRNewswire/ -- Starting today, Pizza Hut is entering the burger business with a better way to burger. Introducing the new Cheeseburger Melt, a parmesan-crusted thin crust Melt folded and loaded with beef, applewood-smoked bacon, onions, mozzarella, and cheddar, served with Burger Sauce on the side. The savory ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _________________ Commission file number 1-13163 ________________________ YUM! BRANDS, INC. (Exact name of registrant as specified in its cha ...

Chrissy Teigen teams up with KFC to give moms what they really crave: peace, quiet, appreciation and a finger lickin' good meal for the whole familyLOUISVILLE, Ky., May 6, 2024 /PRNewswire/ -- KFC is introducing a "real-talk" Mother's Day menu to give mom what she really craves – peace, quiet, appreciation and a delicious meal for the whole family to enjoy. The digital menu features classic KFC family meals, renamed for a limited time to honor how moms really want to celebrate the holiday, including: "Give ...

Key PointsYum! Brands' Q1 2024 earnings fell below analyst expectations, with a decline in same-store sales impacting overall performance.The company's digital sales mix exceeded 50%, highlighting its successful transition to online and mobile ordering platforms.Despite short-term headwinds, Yum! Brands remains committed to its long-term growth strategy through global expansion, menu innovation, and digital investments.5 stocks we like better than Yum! BrandsYum! Brands, Inc. NYSE: YUM is a global powerhous ...

Core Insights - Yum! Brands shares declined after reporting earnings and revenue that fell short of analysts' expectations [1] - U.S. revenue at KFC decreased by 8% and Pizza Hut saw a 6% decline [1] - Digital sales for Yum! Brands surpassed 50% for the first time [1] Financial Performance - The company reported first quarter adjusted earnings per share (EPS) of $1.15, with revenue falling 3% to $1.60 billion, both below estimates [1] - Same-store sales dropped by 3%, with Pizza Hut experiencing a 7% decline and KFC a 2% decrease; Taco Bell's same-store sales increased by 1% [1] Market Conditions - Total U.S. revenue at KFC fell by 8%, while Pizza Hut's revenue decreased by 6%; both franchises also faced revenue drops in the Middle East, Turkey, and North Africa due to geopolitical tensions [1] - CEO David Gibbs mentioned the company faced "a difficult operating environment" but highlighted the growth in digital sales [1] Stock Performance - Shares of Yum! Brands, which reached an all-time closing high on Monday, were down 4.5% to $134.93 around 1:25 p.m. ET on Wednesday [1]

Yum Brands, the company behind Pizza Hut, KFC and Taco Bell, reported mixed results in its Q1 earnings announcement Wednesday (May 1) with challenges evident in its traditional sales channels, but a significant milestone in its digital growth strategy.Despite a 3% decline in same-store sales worldwide, Yum Brands’ digital efforts reached new heights. The company reported that for the first time, digital transactions accounted for over 50% of its total sales, nearing $8 billion. The overall sales figures ref ...

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 ...