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Sep 30, 2023
Yum Q3 2023 Earnings Report
Yum! Brands reported strong Q3 2023 results, driven by system sales growth and unit expansion.
Key Takeaways
Yum! Brands reported a strong third quarter with 10% worldwide system sales growth, driven by 6% same-store sales growth and 6% unit growth. The company opened a record 1,130 gross new units. GAAP EPS was $1.46, and EPS excluding special items was $1.44.
Worldwide system sales grew 10%, excluding foreign currency translation, with KFC at 12%, Taco Bell at 11%, and Pizza Hut at 4%.
Unit count increased 6%, driven by 1,130 gross new units, a Q3 record.
Digital sales exceeded $7 billion, with digital mix over 45%.
GAAP operating profit grew 12% and core operating profit grew 16%.
Revenue by Segment
Forward Guidance
Yum! Brands expects that its full-year 2023 results will outperform on all aspects of its long-term growth algorithm.
Positive Outlook
- Strong year-to-date performance.
- Sustaining top and bottom line momentum.
- Exceptional performance of teams and franchisees.
- Enhancements of customer insights platforms.
- Expansions of global loyalty programs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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