Live News • May 04
Yum Brands Tops Q1 Estimates as Taco Bell and KFC Outperform While Pizza Hut Faces Review Yum! Brands reported Q1 2026 earnings per share of $1.50 on revenue of $2.06b, ahead of Wall Street expectations, with Taco Bell and KFC driving the performance.
Taco Bell U.S. same-store sales grew 8%, while KFC added 648 new restaurants across 45 countries, helping total global units reach more than 63,000 and digital system sales reach 63% of total sales.
Pizza Hut remains under review, with Yum! planning to close underperforming U.S. stores and considering a possible divestiture of the brand.
For investors, the current story at Yum! centers on strength in Taco Bell and KFC offset by weakness at Pizza Hut. Taco Bell’s 8% U.S. same-store sales growth, along with a focus on value offerings, new menu items, and loyalty-driven digital orders, is supporting margins. KFC is adding units internationally and testing new formats such as Saucy by KFC. These efforts align with Yum!’s broader push to grow its global footprint and keep the concept fresh for customers.
At the same time, the Pizza Hut review underscores that not every part of the portfolio is performing to plan. Management is responding with potential closures of weaker U.S. stores and a willingness to consider a sale, which could reshape Yum!’s brand mix over time. Digital sales approaching $11b and representing 63% of system sales, along with the use of AI and the Byte platform in operations, illustrate where the company is focusing its capital and attention as it works to support unit growth, system sales, and operating profit targets. Reported Earnings • Apr 30
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: EPS: US$1.56 (up from US$0.90 in 1Q 2025). Revenue: US$2.06b (up 15% from 1Q 2025). Net income: US$432.0m (up 71% from 1Q 2025). Profit margin: 21% (up from 14% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Buy Or Sell Opportunity • Apr 30
Now 20% undervalued Over the last 90 days, the stock has risen 2.7% to US$160. The fair value is estimated to be US$200, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has grown by 4.3%. For the next 3 years, revenue is forecast to grow by 6.4% per annum. Earnings are also forecast to grow by 7.6% per annum over the same time period. Announcement • Apr 16
Yum! Brands, Inc. to Report Q1, 2026 Results on Apr 29, 2026 Yum! Brands, Inc. announced that they will report Q1, 2026 results at 7:00 AM, Eastern Standard Time on Apr 29, 2026 Announcement • Apr 07
Yum! Brands, Inc., Annual General Meeting, May 14, 2026 Yum! Brands, Inc., Annual General Meeting, May 14, 2026. Announcement • Apr 01
Yum! Brands, Inc. Appoints Kathleen (Leeny) K. Oberg to its Board of Directors, Effective April 1, 2026 Yum! Brands, Inc. announced the appointment of Kathleen (Leeny) K. Oberg, former Chief Financial Officer and Executive Vice President, Development of Marriott International, Inc., to its Board of Directors, effective April 1, 2026. Ms. Oberg served as Marriott International, Inc.’s Chief Financial Officer from 2016 until 2026 and Executive Vice President, Development of Marriott from 2023 until 2026. Previously, Ms. Oberg was the Chief Financial Officer for The Ritz-Carlton from 2013-2015, where she contributed significantly to the brand’s performance, growth and organizational effectiveness. Prior to that role, Ms. Oberg served in a range of financial leadership positions with Marriott, including Senior Vice President, Corporate and Development Finance and Senior Vice President, International Project Finance and Asset Management for Europe, the Middle East and Africa. Ms. Oberg first joined Marriott as part of its Investor Relations group in 1999. Prior to that, she held a variety of financial leadership positions with Sodexo (previously Sodexo Marriott Services), Sallie Mae, Goldman Sachs and Chase Manhattan Bank. Ms. Oberg was previously a member of the American Hotel and Lodging Association's IREFAC Council. She currently serves on the Board of Directors of Adobe, Inc. She earned a bachelor’s degree in commerce with concentrations in finance and management information systems from the University of Virginia’s McIntire School of Commerce, and she received an MBA from Stanford University’s Graduate School of Business. Recent Insider Transactions • Feb 18
COO and Chief People & Culture Officer recently sold US$1.3m worth of stock On the 17th of February, Tracy Skeans sold around 8k shares on-market at roughly US$160 per share. This transaction amounted to 61% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$1.9m. This was Tracy's only on-market trade for the last 12 months. Announcement • Feb 13
Yum! Brands, Inc. Announces Resignation of Keith Barr from the Board, Effective February 10, 2026 On February 10, 2026, Keith Barr, a member of the Board of Directors of Yum! Brands, Inc. informed the Company that he will resign from the Board effective February 10, 2026. Mr. Barr’s resignation was not the result of any disagreement with the Company on any matter relating to its operations, policies, or practices, and it coincides with his recent appointment to a leadership position outside of YUM. Recent Insider Transactions • Feb 08
Insider recently sold US$1.9m worth of stock On the 5th of February, Aaron Powell sold around 12k shares on-market at roughly US$161 per share. This transaction amounted to 45% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$8.3m more than they bought in the last 12 months. Declared Dividend • Feb 06
Fourth quarter dividend increased to US$0.75 Dividend of US$0.75 is 5.6% higher than last year. Ex-date: 20th February 2026 Payment date: 6th March 2026 Dividend yield will be 1.8%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 6.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 05
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: US$5.59 (up from US$5.27 in FY 2024). Revenue: US$8.21b (up 8.8% from FY 2024). Net income: US$1.56b (up 4.9% from FY 2024). Profit margin: 19% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 7% per year. Announcement • Feb 04
Yum! Brands, Inc. Increases Dividend, Payable on March 6, 2026 The Board of Directors of Yum! Brands, Inc. approved a dividend of $0.75 per share of common stock, an increase of 6%. The quarterly dividend will be distributed March 6, 2026 to shareholders of record at the close of business on February 20, 2026. Declared Dividend • Nov 24
Third quarter dividend of US$0.71 announced Shareholders will receive a dividend of US$0.71. Ex-date: 2nd December 2025 Payment date: 12th December 2025 Dividend yield will be 1.9%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 5.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 21
Yum! Brands, Inc. Declares Quarterly Dividend, Payable on December 12, 2025 Yum! Brands, Inc. Board of Directors declared a dividend of $0.71 per share of common stock. The quarterly cash dividend will be distributed December 12, 2025, to shareholders of record at the close of business on December 2, 2025. Recent Insider Transactions Derivative • Nov 19
COO and Chief People & Culture Officer notifies of intention to sell stock Tracy Skeans intends to sell 24k shares in the next 90 days after lodging an Intent To Sell Form on the 17th of November. If the sale is conducted around the recent share price of US$149, it would amount to US$3.6m. Since December 2024, Tracy's direct individual holding has decreased from 13.54k shares to 5.07k. Company insiders have collectively sold US$17m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Nov 04
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: US$1.43 (up from US$1.36 in 3Q 2024). Revenue: US$1.98b (up 8.4% from 3Q 2024). Net income: US$397.0m (up 3.9% from 3Q 2024). Profit margin: 20% (in line with 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.7%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 7% per year. Buy Or Sell Opportunity • Oct 18
Now 20% overvalued Over the last 90 days, the stock has fallen 2.5% to US$145. The fair value is estimated to be US$121, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has grown by 4.5%. For the next 3 years, revenue is forecast to grow by 6.0% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Recent Insider Transactions Derivative • Oct 16
Advisor notifies of intention to sell stock David Gibbs intends to sell 28k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of October. If the sale is conducted around the recent share price of US$144, it would amount to US$4.0m. Since December 2024, David's direct individual holding has increased from 212.02k shares to 223.79k. Company insiders have collectively sold US$15m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Sep 16
CEO & Director exercised options and sold US$1.1m worth of stock On the 15th of September, David Gibbs exercised 11k options at a strike price of around US$49.66 and sold these shares for an average price of US$148 per share. This trade did not impact their existing holding. For the year to December 2018, David's total compensation was 5% salary and 95% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2024, David's direct individual holding has increased from 221.78k shares to 223.79k. Company insiders have collectively sold US$16m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Aug 28
Yum! Brands, Inc. Appoints Chris Turner as Director of the Board, Effective October 1, 2025 Yum! Brands, Inc. announced that Chris Turner, who will become Chief Executive Officer of the Company on October 1, 2025, was appointed as a Director of the Board, also effective October 1, 2025. Turner was appointed to become Yum! Brand’s next Chief Executive Officer on June 13, effective October 1, 2025, succeeding David Gibbs, who, in March 2025, informed the Board of Directors of his intention to retire after 36 years with the Company and a successful tenure as CEO. Turner has served as Yum! Brands' Chief Financial Officer since 2019 and expanded his role to include Chief Franchise Officer in 2024, with responsibilities for finance, corporate strategy, supply chain, franchise standards and support. Also, effective October 1, 2025, Gibbs will no longer be a Director of the Board but will remain as an executive advisor to the Company through 2026. Declared Dividend • Aug 25
Second quarter dividend of US$0.71 announced Shareholders will receive a dividend of US$0.71. Ex-date: 2nd September 2025 Payment date: 12th September 2025 Dividend yield will be 1.9%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 5.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 46% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 22
Yum! Brands, Inc. Declares Quarterly Dividend, Payable on September 12, 2025 Yum! Brands, Inc. Board of Directors declared a dividend of $0.71 per share of common stock. The quarterly cash dividend will be distributed September 12, 2025, to shareholders of record at the close of business on September 2, 2025. Buy Or Sell Opportunity • Aug 19
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 3.8% to US$152. The fair value is estimated to be US$125, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has grown by 4.5%. For the next 3 years, revenue is forecast to grow by 6.0% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Recent Insider Transactions Derivative • Aug 17
COO and Chief People & Culture Officer notifies of intention to sell stock Tracy Skeans intends to sell 12k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of August. If the sale is conducted around the recent share price of US$148, it would amount to US$1.8m. Since December 2024, Tracy's direct individual holding has decreased from 13.54k shares to 5.07k. Company insiders have collectively sold US$13m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Aug 11
Independent Non-Executive Chairman exercised options and sold US$291k worth of stock On the 6th of August, Brian Cornell exercised 3k options at a strike price of around US$49.66 and sold these shares for an average price of US$139 per share. This trade did not impact their existing holding. Since December 2024, Brian's direct individual holding has decreased from 2.48k shares to 452.00. Company insiders have collectively sold US$15m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Aug 05
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: US$1.34 (up from US$1.30 in 2Q 2024). Revenue: US$1.93b (up 9.6% from 2Q 2024). Net income: US$374.0m (up 1.9% from 2Q 2024). Profit margin: 19% (down from 21% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 6% per year. Recent Insider Transactions Derivative • Jul 22
CEO & Director exercised options and sold US$1.0m worth of stock On the 15th of July, David Gibbs exercised 11k options at a strike price of around US$49.66 and sold these shares for an average price of US$145 per share. This trade did not impact their existing holding. For the year to December 2018, David's total compensation was 5% salary and 95% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2024, David's direct individual holding has increased from 221.78k shares to 223.79k. Company insiders have collectively sold US$19m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Jul 16
CEO & Director exercised options and sold US$1.0m worth of stock On the 15th of July, David Gibbs exercised 11k options at a strike price of around US$49.66 and sold these shares for an average price of US$145 per share. This trade did not impact their existing holding. For the year to December 2018, David's total compensation was 5% salary and 95% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2024, David's direct individual holding has increased from 221.78k shares to 223.79k. Company insiders have collectively sold US$19m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Jul 07
Yum! Brands Reportedly in Talks to Facilitate Devyani, Sapphire Merger Yum! Brands, Inc. (NYSE:YUM), the American owner of fast-food restaurant chains KFC and Pizza Hut, is in talks to facilitate a merger of Devyani International Limited (NSEI:DEVYANI) and Sapphire Foods India Limited (NSEI:SAPPHIRE)—its publicly-traded franchisee partners in the country, people aware of the developments said. The negotiations could result in Sapphire Foods getting absorbed by DIL through a share swap deal. This would entail the latter either acquiring the franchisee rights of KFC and Pizza Hut from Sapphire Foods, or all of KFC’s franchisee stores in India getting consolidated under DIL, the people cited above said. One of the persons cited above said a 1:3 share swap ratio is being prepared with Sapphire shareholders getting one share of DIL for every three owned. This plan could not be independently verified. "There are direct synergies for DIL, since it is owned by PepsiCo’s bottling partner Varun Beverages Ltd. (VBL),” a second person said. Recent Insider Transactions Derivative • Jun 18
CEO & Director exercised options and sold US$1.0m worth of stock On the 16th of June, David Gibbs exercised 11k options at a strike price of around US$49.66 and sold these shares for an average price of US$142 per share. This trade did not impact their existing holding. For the year to December 2018, David's total compensation was 5% salary and 95% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2024, David's direct individual holding has increased from 221.78k shares to 223.79k. Company insiders have collectively sold US$19m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Jun 17
Yum! Brands, Inc. Announces CEO Changes, Effective October 1, 2025 Yum! Brands, Inc. announced that its Board of Directors has unanimously elected Chris Turner, 50, as Chief Executive Officer, effective October 1, 2025. Turner, who currently serves as Chief Financial & Franchise Officer for Yum! Brands, will succeed current Chief Executive Officer David Gibbs, who, in March 2025, informed the Board of Directors of his intention to retire in the next year after 37 years with the Company and a successful tenure as CEO. Turner has served as Yum! Brands' Chief Financial Officer since 2019 and expanded his role to include Chief Franchise Officer in 2024, with responsibilities for finance, corporate strategy, supply chain, franchise standards and support. In recent years, he has been instrumental in driving bold actions that leverage Yum!’s scale, such as accelerating the Company’s digital and technology transformation through initiatives like the establishment of Byte by Yum!, an AI-driven restaurant technology platform; launching a centralized, global Supply Chain Center of Excellence; and the creation of Saucy by KFC, a bold new restaurant concept. He has worked closely with Gibbs and the entire Yum! Brands leadership team to drive growth through unit development, deliver strong shareholder returns and foster a people-first culture of collaboration. Gibbs has served as Yum! Brands’ CEO since January 2020. As CEO, Gibbs was instrumental in architecting and leading the Company’s digital transformation and tripled the pace of Yum! Brands’ annual net new unit development, leading to nearly 61,000 restaurant units worldwide. Gibbs also successfully navigated the Company through the COVID-19 pandemic and an increasingly complex operating environment, making Yum! a top performer in the restaurant industry. During Gibbs’ tenure, digital sales surpassed $30 billion in 2024, with over 50% of sales through digital channels. Gibbs remains CEO until September 30, 2025, and will serve as an adviser to the Company until the end of 2026 to ensure a seamless transition. Before joining the Company, Mr. Turner served as Senior Vice President and General Manager of PepsiCo’s retail and e-commerce business covering Walmart in the U. S. and more than 25 countries from December 2017 to July 2019. Declared Dividend • May 19
First quarter dividend of US$0.71 announced Shareholders will receive a dividend of US$0.71. Ex-date: 27th May 2025 Payment date: 6th June 2025 Dividend yield will be 1.9%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (54% cash payout ratio). The dividend has increased by an average of 5.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions Derivative • May 16
CEO & Director exercised options and sold US$1.0m worth of stock On the 15th of May, David Gibbs exercised 11k options at a strike price of around US$49.66 and sold these shares for an average price of US$143 per share. This trade did not impact their existing holding. For the year to December 2018, David's total compensation was 5% salary and 95% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2024, David's direct individual holding has decreased from 231.52k shares to 223.79k. Company insiders have collectively sold US$19m more than they bought, via options and on-market transactions in the last 12 months. Announcement • May 16
Yum! Brands, Inc. Declares Quarterly Dividend, Payable on June 6, 2025 Yum! Brands, Inc.'s Board of Directors declared a dividend of $0.71 per share of common stock. The quarterly cash dividend will be distributed June 6, 2025, to shareholders of record at the close of business on May 27, 2025. Reported Earnings • May 01
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: US$0.90 (down from US$1.11 in 1Q 2024). Revenue: US$1.79b (up 12% from 1Q 2024). Net income: US$253.0m (down 19% from 1Q 2024). Profit margin: 14% (down from 20% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) also missed analyst estimates by 31%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 31
Yum! Brands, Inc. Announces That Avid Gibbs, Chief Executive Officer to Retire in 2026 Yum! Brands, Inc. announced that David Gibbs, Chief Executive Officer, has informed the Board of Directors of his intention to retire from the Company in the next year. The Board has established a succession planning committee and will work deliberately to identify and appoint the best candidate to lead the company’s next chapter. Gibbs will continue leading the company throughout the search process until his retirement, expected in the first quarter of 2026. Gibbs has served as Yum! Brands’ CEO since January 2020. As CEO, Gibbs focused on leading the company’s digital transformation, building the Company’s development engine and delivering strong shareholder returns powered by a people-first culture of collaboration. Simultaneously, Gibbs also successfully navigated the Company through the COVID-19 pandemic and an increasingly complex operating environment, making the Company a top performer in the restaurant industry. During Gibbs’ tenure, digital sales surpassed $30 billion in 2024 with over 50% of sales through digital channels and the pace of annual net new unit development tripled, leading to more than 61,000 restaurant units worldwide. Announcement • Mar 12
Pizza Hut Introduces Pizza Charcuterie Board Pizza Hut is taking charcuterie to the next level just in time for Pi Day (3.14). Introducing Pizza Charcuterie, a customizable, Instagram-worthy pizza board designed for the ultimate social gathering. Whether hosting a Pi Day celebration, a watch party, or just looking for an easy (but impressive) way to elevate get-together, Pizza Hut's new Pizza Charcuterie is the ultimate crowd-pleaser. Think of it as a build-your-own experience that's as fun to design as it is to devour. For $24.99, pizza lovers can design their own savory board with: Any 2 Medium Pizzas: Pick your faves, from classic Hand Tossed to bold flavors like Chicago Tavern-Style Pizza. Any 8 Boneless Wings: Because every great spread needs something crispy, saucy and shareable. Any Sticks and Dips: Sticks and a variety of savory dips to take your board to the next level. To help launch the Pizza Charcuterie, Pizza Hut teamed up with Robert Gronkowski, former football tight end and pizza lover. Known for his oversized appetite and even bigger personality, Gronk is the first to design his own Pizza Charcuterie board that pizza fans can watch for inspiration here. Recent Insider Transactions • Mar 07
CEO & Director recently sold US$4.9m worth of stock On the 5th of March, David Gibbs sold around 31k shares on-market at roughly US$159 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Mar 06
CEO & Director notifies of intention to sell stock David Gibbs intends to sell 33k shares in the next 90 days after lodging an Intent To Sell Form on the 5th of March. If the sale is conducted around the recent share price of US$158, it would amount to US$5.2m. For the year to December 2018, David's total compensation was 6% salary and 94% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2024, David's direct individual holding has increased from 241.27k shares to 256.79k. Company insiders have collectively sold US$13m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Feb 21
Yum! Brands, Inc., Annual General Meeting, May 15, 2025 Yum! Brands, Inc., Annual General Meeting, May 15, 2025. Declared Dividend • Feb 09
Fourth quarter dividend increased to US$0.71 Dividend of US$0.71 is 6.0% higher than last year. Ex-date: 21st February 2025 Payment date: 7th March 2025 Dividend yield will be 1.9%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 6.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Feb 06
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 5.0% to US$144. The fair value is estimated to be US$116, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Earnings per share has grown by 3.3%. For the next 3 years, revenue is forecast to grow by 6.0% per annum. Earnings are also forecast to grow by 7.9% per annum over the same time period. Announcement • Jan 14
Yum! Brands, Inc. Announces the Promotion of Scott Mezvinsky, 49, to KFC Division Chief Executive Officer, Effective March 1, 2025 Yum! Brands, Inc. announced the promotion of Scott Mezvinsky, 49, to KFC Division Chief Executive Officer, effective March 1, 2025. Mezvinsky, a 20-year veteran of the Company who currently serves as President of Taco Bell North America and International, will succeed Sabir Sami, who is stepping down as KFC CEO at the end of February 2025. Mezvinsky will assume global responsibility for driving the brand strategy and performance of KFC. Prior to his most recent role, Mezvinsky was Taco Bell’s Global Chief Strategy & Financial Officer, leading the finance, development and strategy functions to help reach the Company’s goal of becoming a $20 billion brand. Since joining Yum! Brands in 2004, Mezvinsky held various roles at KFC and Yum!, including General Manager (GM) of KFC Iberia, where he helped turn the market into one of KFC’s leaders, achieving record same store sales growth, net new unit growth and ops metrics in 2018 and 2019. He also held roles in the KFC Latin America and Caribbean market, including Chief Development Officer and VP, Development and Operations. Mezvinsky received his BBA in Accounting from Southern Methodist University and MBA from the University of Chicago Booth School of Business. Sabir Sami has been CEO of the KFC Division since January 2022 and has held executive positions with Yum! Brands since 2009, including KFC Division Chief Operating Officer and Managing Director of KFC Asia, Managing Director for the KFC Middle East, North Africa, Pakistan and Turkey markets, and GM of Yum! Canada and GM of the KFC Canada and Turkey businesses. Sami remains KFC Division CEO through the end of February 2025, to ensure a smooth and seamless transition. Declared Dividend • Nov 26
Third quarter dividend of US$0.67 announced Shareholders will receive a dividend of US$0.67. Ex-date: 2nd December 2024 Payment date: 13th December 2024 Dividend yield will be 1.9%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (12% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 22
Yum! Brands, Inc. Declares Quarterly Dividend, Payable on December 13, 2024 Yum! Brands, Inc.'s Board of Directors declared a dividend of $0.67 per share of common stock. The quarterly dividend will be distributed December 13, 2024 to shareholders of record at the close of business on December 2, 2024. Reported Earnings • Nov 05
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: US$1.36 (down from US$1.48 in 3Q 2023). Revenue: US$1.83b (up 6.9% from 3Q 2023). Net income: US$382.0m (down 8.2% from 3Q 2023). Profit margin: 21% (down from 24% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 4.7%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 2% per year. Declared Dividend • Aug 19
Second quarter dividend of US$0.67 announced Shareholders will receive a dividend of US$0.67. Ex-date: 27th August 2024 Payment date: 6th September 2024 Dividend yield will be 1.9%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (23% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 16
Yum! Brands, Inc. Declares Quarterly Dividend, Payable on September 6, 2024 Yum! Brands, Inc. Board of Directors declared a dividend of $0.67 per share of common stock. The quarterly dividend will be distributed September 6, 2024 to shareholders of record at the close of business on August 27, 2024. Recent Insider Transactions • Aug 11
Chief Executive Officer of KFC Division recently sold US$1.2m worth of stock On the 7th of August, Sabir Sami sold around 9k shares on-market at roughly US$137 per share. This transaction amounted to 99% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$4.2m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Aug 09
Chief Executive Officer of KFC Division notifies of intention to sell stock Sabir Sami intends to sell 71k shares in the next 90 days after lodging an Intent To Sell Form on the 7th of August. If the sale is conducted around the recent share price of US$137, it would amount to US$9.7m. Since December 2023, Sabir's direct individual holding has increased from 6.65k shares to 9.07k. Company insiders have collectively sold US$1.3m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Aug 07
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: US$1.30 (down from US$1.49 in 2Q 2023). Revenue: US$1.76b (up 4.5% from 2Q 2023). Net income: US$367.0m (down 12% from 2Q 2023). Profit margin: 21% (down from 25% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) also missed analyst estimates by 5.0%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year. Declared Dividend • May 19
First quarter dividend of US$0.67 announced Shareholders will receive a dividend of US$0.67. Ex-date: 24th May 2024 Payment date: 7th June 2024 Dividend yield will be 1.8%, which is lower than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (32% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 17
Yum! Brands, Inc. (NYSE:YUM) announces an Equity Buyback for $2,000 million worth of its shares. Yum! Brands, Inc. (NYSE:YUM) announces a share repurchase program. Under the program, the company will repurchase up to $2,000 million worth of its shares. The program will run through December 31, 2026. 