NYSE$YUM

Yum Brands Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Yum! Brands reported mixed first-quarter results with strong system sales growth offset by a slight EPS decrease excluding special items. The company achieved a record number of gross unit openings and a high digital mix.

Yum! Brands reported an 8% increase in worldwide system sales, excluding foreign currency translation, driven by 6% unit growth and 3% same-store sales growth. GAAP EPS increased by 27% to $1.36, while EPS excluding special items decreased by 1% to $1.05. The company opened a record 997 gross units and saw digital sales reach approximately $6 billion, representing over 40% of sales.

  • Worldwide system sales grew by 8%, excluding foreign currency translation, with KFC leading at 9%, followed by Taco Bell at 8%, and Pizza Hut at 3%.
  • A record 997 gross units were added, resulting in 628 net-new units and a 6% year-over-year unit growth.
  • Digital sales reached approximately $6 billion, a 15% increase year-over-year, with the digital mix exceeding 40%.
  • The company repurchased 3.4 million shares totaling approximately $407 million at an average price of $121 per share.

Headline financials

Total Revenue

$1.55B

Previous: $1.49B+4.1%
EPS (adj)

$1.05

Previous: $1.07-1.9%
KFC same-store sales growth

3.0%

Previous: 8.0%-62.5%
KFC restaurant count

27.4K

Previous: 25.3K+8.2%
Taco Bell same-store sales growth

5.0%

Previous: 9.0%-44.4%
Taco Bell restaurant count

7.8K

Previous: 7.5K+4.5%
Pizza Hut same-store sales growth

0.0%

Previous: 12.0%-100.0%
Pizza Hut restaurant count

18.5K

Previous: 17.7K+4.6%
Capital Expenditures

-$42M

Previous: -$45M+6.7%
Free Cash Flow

$357M

Previous: $281M+27.0%
Net Income

$399M

Previous: $326M+22.4%
Operating Income

$509M

Previous: $543M-6.3%
Gross Profit

$1.15B

Previous: $1.09B+4.7%
Cash & Equivalents

$365M

Previous: $561M-34.9%
Total Assets

$5.82B

Previous: $5.55B+4.8%
Stock-Based Comp

$26M

Previous: $21M+23.8%

Revenue & EPS history

Yum · Revenue · Quarterly

$1.55B

Q1 2022+4.1%vs Q1 2021
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Yum · $1.42B total across 3 segments · Q1 2022

  • KFC Division
    $660M+5.6%
  • Taco Bell Division
    $517M+5.9%
  • Pizza Hut Division
    $244M-2.8%

Forward guidance

No specific forward guidance was provided in the press release.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

-0.0%

Avg return

Earnings day

+0.4%

Avg return

5 days after

+1.5%

Avg return

30 days after

54%

39 / 72 earnings

Positive

+9.7%

Q4 2024

Best reaction

-18.5%

Q3 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-3.4%-1.3%-5.5%
Q4 2025+0.5%+0.1%+0.8%
Q3 2025+7.5%+7.0%+4.6%
Q2 2025+0.9%+0.5%+2.3%
Q1 2025+1.9%-0.8%-2.5%
Q4 2024+9.7%+11.7%+23.8%
Q3 2024+1.2%+3.4%+4.0%
Q2 2024+2.3%+2.6%+0.9%
Q1 2024-4.4%-3.6%-2.7%
Q4 2023+2.5%+3.2%+9.7%
Q3 2023+2.8%+4.6%+5.4%
Q2 2023-0.5%-0.9%-4.9%
Q1 2023-4.6%-4.5%-5.9%
Q4 2022+1.4%+2.5%-3.7%
Q3 2022+1.1%+3.7%+9.8%
Q2 2022-1.7%-3.0%-7.7%
Q1 2022+0.5%-4.3%+3.1%
Q4 2021-0.7%-2.9%-7.0%
Q3 2021-0.7%-1.1%-1.3%
Q2 2021+7.2%+8.8%+7.4%
Q1 2021+2.1%+3.1%+3.1%
Q4 2020+0.6%-1.5%-0.4%
Q3 2020-1.8%+1.8%+12.7%
Q2 2020-4.0%-3.2%+2.8%
Q1 2020-2.1%-5.9%+1.7%
Q4 2019-4.4%-2.6%-16.3%
Q3 2019-7.3%-10.3%-8.2%
Q2 2019+4.3%+3.1%+3.8%
Q1 2019-2.5%-1.9%-2.0%
Q4 2018-0.1%-0.6%+2.2%
Q3 2018+1.8%+1.2%+6.7%
Q2 2018+3.0%+2.3%+9.3%
Q1 2018-4.6%-4.1%-5.5%
Q4 2017-1.0%-2.9%+3.5%
Q3 2017+6.2%+9.0%+12.2%
Q2 2017-2.1%-3.2%+0.0%
Q1 2017+4.0%+4.2%+11.5%
Q4 2016+2.1%+3.0%-3.4%
Q3 2016-3.2%-3.2%-7.8%
Q2 2016+2.4%+1.6%+4.3%
Q1 2016-0.5%
Q4 2015-0.0%
Q3 2015-18.5%
Q2 2015-2.4%
Q1 2015+3.6%
Q4 2014+2.2%
Q3 2014-0.9%
Q2 2014-7.4%
Q1 2014+1.0%
Q4 2013+7.3%
Q3 2013-6.9%
Q2 2013-2.0%
Q1 2013+5.2%
Q4 2012-5.8%
Q3 2012+6.1%
Q2 2012+2.3%
Q1 2012+1.4%
Q4 2011+1.0%
Q3 2011+0.2%
Q2 2011-0.9%
Q1 2011+0.5%
Q4 2010+1.7%
Q3 2010+0.8%
Q2 2010-0.3%
Q1 2009+0.2%
Q1 2010+0.5%
Q2 2009+0.2%
Q4 2009+0.2%
Q4 2007-1.5%
Q3 2008-1.5%
Q3 2009-1.5%
Q4 2008-1.5%

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