NYSE$YUMC
Yum China Holdings Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Yum China's results improved, driven by new store openings, same-store sales growth, lower commodity prices and productivity improvements.
Yum China reported a strong second quarter with total revenues increasing by 29% year over year to $2.45 billion. System sales grew by 14%, and same-store sales were up by 5% in constant currency. The company opened 404 new stores, reaching a total of 11,023 stores.
- Total revenues increased 29% year over year to $2.45 billion.
- Total system sales increased 14% year over year, with increases of 14% at KFC and 16% at Pizza Hut, excluding F/X.
- Same-store sales increased 5% year over year, with increases of 4% at KFC and 11% at Pizza Hut, excluding F/X.
- Operating Profit increased 83% year over year to $233 million.
Headline financials
Revenue & EPS history
Yum China · Revenue · Quarterly
$2.45B
Revenue by segment
Yum China · $2.27B total across 2 segments · Q2 2021
- KFC$1.73B+32.7%76.3%
- Pizza Hut$538M+26.9%23.7%
Forward guidance
Yum China is updating its fiscal year 2021 targets.
Tailwinds
- To open approximately 1,300 gross new stores, an increase compared to the original target of 1,000, primarily due to the acceleration of KFC and Pizza Hut store expansion.
- To make capital expenditures of approximately $700-800 million, an increase compared to the original target of $600 million, as a result of additional new stores and stepped-up investment in infrastructure and digitalization.
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 Q2 2021
+1.5%
Avg return
Earnings day
+2.5%
Avg return
5 days after
+3.0%
Avg return
30 days after
71%
32 / 45 earnings
Positive
+15.6%
Q3 2018
Best reaction
-16.1%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.9% | +1.0% | -10.4% | |
| Q4 2025 | +1.8% | +13.3% | +2.1% | |
| Q3 2025 | +2.0% | -0.9% | +6.0% | |
| Q1 2025 | -7.2% | -6.8% | -6.5% | |
| Q4 2024 | +9.1% | +4.3% | +9.2% | |
| Q3 2024 | +7.3% | +9.4% | +4.5% | |
| Q2 2024 | +13.0% | +14.0% | +14.0% | |
| Q1 2024 | -7.9% | -3.1% | -12.1% | |
| Q4 2023 | +12.4% | +12.2% | +14.4% | |
| Q3 2023 | -16.1% | -14.6% | -18.7% | |
| Q2 2023 | -4.0% | -6.3% | -9.9% | |
| Q1 2023 | +0.8% | +0.8% | -8.0% | |
| Q4 2022 | +2.7% | +4.6% | -1.4% | |
| Q3 2022 | +12.0% | +20.8% | +32.5% | |
| Q2 2022 | +4.8% | +3.3% | +6.4% | |
| Q1 2022 | +1.8% | -3.8% | +7.1% | |
| Q4 2021 | +2.7% | +11.1% | -3.7% | |
| Q3 2021 | -2.4% | -1.9% | -13.9% | |
| Q2 2021 | +1.9% | +1.0% | -1.5% | |
| Q1 2021 | +5.8% | +5.0% | +11.9% | |
| Q4 2020 | -4.3% | +2.0% | +3.3% | |
| Q3 2020 | +0.4% | -2.5% | +8.2% | |
| Q2 2020 | -3.5% | -0.7% | +7.4% | |
| Q1 2020 | +8.7% | +1.0% | -3.4% | |
| Q4 2019 | -1.3% | -4.3% | -3.9% | |
| Q3 2019 | +1.2% | -4.8% | +1.4% | |
| Q2 2019 | +0.2% | -0.6% | -0.2% | |
| Q1 2019 | +5.6% | +5.2% | -13.9% | |
| Q4 2018 | +9.6% | +12.9% | +15.4% | |
| Q3 2018 | +15.6% | +15.4% | +14.7% | |
| Q2 2018 | -2.2% | -4.6% | +7.2% | |
| Q1 2018 | -13.5% | -10.7% | -8.1% | |
| Q4 2017 | -6.6% | -9.3% | -5.6% | |
| Q3 2017 | +2.3% | +6.6% | +4.8% | |
| Q2 2017 | -13.2% | -7.3% | -7.8% | |
| Q1 2016 | +1.9% | +6.1% | +10.0% | |
| Q1 2017 | +10.0% | +12.1% | +21.0% | |
| Q1 2015 | +0.7% | +1.8% | +19.8% | |
| Q2 2015 | +0.7% | +1.8% | +19.8% | |
| Q4 2014 | +0.7% | +1.8% | +19.8% | |
| Q2 2016 | +0.7% | +1.8% | +19.8% | |
| Q4 2016 | -5.8% | -7.7% | -9.0% | |
| Q3 2015 | +4.9% | +11.3% | -2.8% | |
| Q4 2015 | +4.9% | +11.3% | -2.8% | |
| Q3 2016 | +4.9% | +11.3% | -2.8% |
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