This story was originally published on Restaurant Dive. To receive daily news and insights, subscribe to our free daily Restaurant Dive newsletter. Dive Brief: Pizza Hut will close around 250 stores in the U.S. in H1 2026 as part of an ongoing review of the chain’s positioning and strategy, Yum Brands CFO Ranjith Roy said on the company’s Q4 2025 earnings call. Yum began evaluating Pizza Hut’s system last year and is considering a sale of the brand, which has lagged behind other major pizza chains in sal ...

This story was originally published on Packaging Dive. To receive daily news and insights, subscribe to our free daily Packaging Dive newsletter. By the numbers: Q4 and full-year 2025 Q4 net sales: $2.1B Up 0.4% year over year 2025 net sales: $8.6B Down 2.2% year over year Q4 net income: $71M Compared with $138M in Q4 2024 2025 net income: $444M Compared with $658M in 2024 Overview: Sales during the fourth quarter of 2025 were essentially flat year over year, said executives on Tuesday’s earnings call. It ...

Financial Data and Key Metrics Changes - Revenue for the first quarter was $206 million, an increase of 11% year over year, and at the high end of the company's range [5] - Adjusted net income rose to $17 million from $2 million last year, while adjusted EBITDA increased to $30.7 million from $17.6 million, representing about 15% of sales [5][12] - Gross profit increased by 28% year over year to $60.8 million, with gross margin expanding to 29.5% from 25.7% [12] - Adjusted operating income was $22.6 million, or 11% of sales, compared to $5.5 million and 3% in the prior year [13] Business Line Data and Key Metrics Changes - The Aerospace segment achieved record revenue of $191.4 million, up 17% year over year, with adjusted operating profit of $31 million and an operating margin of 16.2% [8][15] - The Test segment reported sales of $14.6 million, down from the previous year, with an adjusted operating loss of $1.5 million due to a $1.9 million adjustment related to a long-term contract [16][17] Market Data and Key Metrics Changes - First quarter bookings were strong at $280 million, yielding a book-to-bill ratio of 1.36, with a significant order of $57 million for the FLRAA development effort [6][7] - The backlog reached an all-time high, indicating strong future demand [6] Company Strategy and Development Direction - The company remains focused on margin expansion, free cash flow generation, and continuous improvement, with plans for capital expenditures between $35 million and $50 million for the year [21][22] - The company is evaluating its financing structure and considering value-creating initiatives, including acquisitions and share repurchases [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the macroeconomic environment, particularly concerning potential tariff impacts, estimating obligations between $10 million and $20 million [24][25] - The company is maintaining its revenue forecast for 2025 at $820 million to $860 million, reflecting a 6% increase from 2024, while acknowledging both upside potential and downside risks [23][24] Other Important Information - Operating cash flow improved significantly to $20.6 million from $2 million in the prior year, driven by stronger cash earnings and efficient working capital management [18][19] - Long-term debt net of cash was reduced to $134.2 million, with total liquidity at approximately $194 million [20] Q&A Session Summary Question: How much mitigation can be done to offset the tariff impact? - Management indicated it is difficult to quantify timing without knowing the exact tariffs, but they are considering various alternatives [28][30] Question: Does the review of each business indicate restructuring or strategic changes? - Management stated it could involve any of those aspects, emphasizing the need to evaluate product lines and initiatives [32][33] Question: What are the expectations regarding Boeing's production needs? - Management has not heard of major changes from Boeing and is encouraged by their production rate progression [35] Question: Can more detail be provided on demand growth from airlines versus OEMs? - Demand has been strong from both sides, with commercial transport sales being roughly 50% line fit and 50% aftermarket [43] Question: Is the $1.9 million charge contained? - Management acknowledged potential risks and is conducting a review to assess the situation [46] Question: What is the worst-case scenario for the UK legal fees? - Management believes the worst-case scenario for legal fees is around $7.2 million, with the overall situation being better than initially feared [51][52]