Yum China Q3 2024 Earnings Report
Key Takeaways
Yum China reported strong Q3 2024 results with a 4% increase in total system sales, driven by net new unit contribution. Total revenues increased by 5% to $3.07 billion. Diluted EPS grew by 33% year over year. The company opened 438 net new stores and is stepping up capital returns to shareholders by 50% to $4.5 billion for 2024-2026.
Total system sales grew 4% year over year, excluding foreign currency translation, primarily due to 7% net new unit contribution.
Total revenues increased 5% year over year to $3.07 billion, an all-time quarter high.
Diluted EPS increased 33% year over year to $0.77.
Yum China is stepping up capital returns to shareholders by 50% to $4.5 billion for 2024-2026.
Yum China
Yum China
Yum China Revenue by Segment
Forward Guidance
The Company’s targets for the 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