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Mar 31, 2024
Yum China Q1 2024 Earnings Report
Yum China's Q1 2024 performance reflected solid sales growth and strategic expansion.
Key Takeaways
Yum China reported a 1% increase in total revenues to $2.96 billion, with a 6% system sales growth excluding F/X. The company achieved a diluted EPS of $0.71, up 4% YoY, and opened a record 378 net new stores, surpassing 15,000 total stores. A record $745 million was returned to shareholders through share repurchases and cash dividends.
Total system sales grew 6% year over year excluding foreign currency translation, primarily attributable to 8% net new unit contribution.
Total store count reached 15,022 as of March 31, 2024, with a record 378 net new stores opened in the quarter.
Total revenues increased 1% year over year to $2.96 billion, or 7% increase YoY excluding F/X.
Yum China returned approximately $745 million to shareholders in the first quarter, the highest quarterly return in the Company's history.
Yum China
Yum China
Yum China Revenue by Segment
Revenue by Segment
KFC Revenue
CapyFin.comPizza Hut Revenue
CapyFin.com Forward Guidance
The Company’s targets for 2024 fiscal year remain unchanged from the prior period's disclosures.
Positive Outlook
- Open approximately 1,500 to 1,700 net new stores.
- Make capital expenditures in the range of approximately $700 million to $850 million.
- Return a Company record-setting $1.5 billion to shareholders through quarterly cash dividends and share repurchases.
Revenue & Expenses
Visualization of income flow from segment revenue to net income