NYSE$YUM

Yum Brands Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Yum! Brands reported mixed Q4 2020 results, with same-store sales declining and digital sales reaching a record high.

Yum! Brands reported a decline in GAAP EPS but an increase in EPS excluding special items for Q4 2020. System sales declined, but digital sales saw significant growth. The company is focused on leveraging its scale and investing in digital and technology.

  • Worldwide system sales declined 2%, with KFC at (1)%, Taco Bell at (3)%, and Pizza Hut at (6)%.
  • The company added 227 net new units during the quarter.
  • Yum! repurchased 2.4 million shares totaling $250 million at an average price per share of $103.
  • Digital sales hit a record of $17 billion, about a 45% increase over the prior year.

Headline financials

Total Revenue

$1.74B

Previous: $1.69B+2.9%
EPS (adj)

$1.15

Previous: $1.00+15.0%
KFC same-store sales growth

-2.0%

Previous: 3.0%-166.7%
KFC restaurant count

25.0K

Previous: 24.1K+3.7%
Taco Bell same-store sales growth

1.0%

Previous: 4.0%-75.0%
Taco Bell restaurant count

7.4K

Previous: 7.4K+0.9%
Pizza Hut same-store sales growth

-1.0%

Previous: 0.0%
Pizza Hut restaurant count

17.6K

Previous: 18.7K-5.7%
Capital Expenditures

$61M

Previous: $87M-29.9%
Free Cash Flow

$391M

Previous: $345M+13.3%
Net Income

$332M

Previous: $488M-32.0%
Operating Income

$482M

Previous: $546M-11.7%
Gross Profit

$818M

Previous: $826M-1.0%
Cash & Equivalents

$730M

Previous: $605M+20.7%
Total Assets

$5.85B

Previous: $5.23B+11.9%
Stock-Based Comp

$53M

Previous: $14M+278.6%

Revenue & EPS history

Yum · Revenue · Quarterly

$1.74B

Q4 2020+2.9%vs Q4 2019
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Yum · $1.63B total across 3 segments · Q4 2020

  • KFC Division
    $711M-2.9%
  • Taco Bell Division
    $628M-5.6%
  • Pizza Hut Division
    $289M-2.7%

Forward guidance

Yum! enters 2021 a stronger company primed to profitably grow system sales this year and beyond.

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 Q4 2020

Historical avgQ4 2020

-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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