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Jun 30, 2021
Yum Q2 2021 Earnings Report
Yum! Brands reported strong Q2 2021 results with record unit development and same-store sales growth.
Key Takeaways
Yum! Brands reported strong second-quarter results, driven by record unit development and 23% same-store sales growth. The company is reinstating its long-term growth algorithm and revising the unit growth component from 4% to between 4% and 5%.
Worldwide system sales excluding foreign currency translation grew 26%, with KFC at 35%, Taco Bell at 24% and Pizza Hut at 10%.
Reported 2% unit growth year-over-year and record second-quarter net new unit growth of 603.
KFC Division opened 522 gross new restaurants in 62 countries.
Pizza Hut Division opened 210 gross new restaurants in 36 countries.
Yum
Yum
Yum Revenue by Segment
Revenue by Segment
KFC Division Revenue
CapyFin.comTaco Bell Division Revenue
CapyFin.comPizza Hut Division Revenue
CapyFin.com Forward Guidance
Yum! Brands is reinstating its long-term growth algorithm and revising the unit growth component from 4% unit growth to between 4% and 5% unit growth.
Positive Outlook
- Strong second-quarter results driven by record unit development and 23% same-store sales growth
- Each division reported positive same-store sales growth on a 2-year basis
- Investments in digital and off-premise capabilities
- Agility of brands to meet the needs of consumers
- Strong unit-level economics driving accelerated unit development
Challenges Ahead
- Severity and duration of the COVID-19 pandemic
- Food safety and food borne-illness issues
- Health concerns arising from outbreaks of a significant health epidemic
- Changes in economic and political conditions in countries and territories outside of the U.S. where we operate
- Changes in commodity, labor and other operating costs
Revenue & Expenses
Visualization of income flow from segment revenue to net income