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Mar 31, 2022
Yum Q1 2022 Earnings Report
Yum! Brands reported mixed first-quarter results with strong system sales growth offset by a slight EPS decrease excluding special items. The company achieved a record number of gross unit openings and a high digital mix.
Key Takeaways
Yum! Brands reported an 8% increase in worldwide system sales, excluding foreign currency translation, driven by 6% unit growth and 3% same-store sales growth. GAAP EPS increased by 27% to $1.36, while EPS excluding special items decreased by 1% to $1.05. The company opened a record 997 gross units and saw digital sales reach approximately $6 billion, representing over 40% of sales.
Worldwide system sales grew by 8%, excluding foreign currency translation, with KFC leading at 9%, followed by Taco Bell at 8%, and Pizza Hut at 3%.
A record 997 gross units were added, resulting in 628 net-new units and a 6% year-over-year unit growth.
Digital sales reached approximately $6 billion, a 15% increase year-over-year, with the digital mix exceeding 40%.
The company repurchased 3.4 million shares totaling approximately $407 million at an average price of $121 per share.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the press release.
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