NYSE$YUMC
Yum China Holdings Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Yum China's Q4 2020 results showed revenue growth and improved profitability despite ongoing COVID-19 challenges.
Yum China reported an 11% increase in total revenues and a 90% increase in operating profit for the fourth quarter of 2020. The company opened 505 new stores during the quarter and managed to improve restaurant margins despite same-store sales decline. While the recovery was uneven due to regional COVID-19 outbreaks, the company's digital capabilities and value campaigns helped drive traffic and improve overall performance.
- Total revenues increased by 11% year-over-year to $2.26 billion.
- Operating Profit surged by 90% year-over-year to $180 million.
- Same-store sales declined by 4% year-over-year.
- Opened 505 new stores in the fourth quarter, contributing to a total of 1,165 new stores opened in 2020.
Headline financials
Revenue & EPS history
Yum China · Revenue · Quarterly
$2.26B
Revenue by segment
Yum China · $2.07B total across 2 segments · Q4 2020
- KFC$1.6B+14.9%77.2%
- Pizza Hut$471M+2.6%22.8%
Forward guidance
Yum China anticipates significant headwinds in the first quarter of 2021 due to regional COVID-19 outbreaks and tightened public health measures. Despite these challenges, the company remains committed to growth and intends to open approximately 1,000 new stores in the year ahead and make capital expenditures of approximately $600 million.
Tailwinds
- Continue to manage the impact of the pandemic.
- Swiftly adjust operations according to market conditions.
- Drive traffic with compelling offers for both dine-in and off-premise occasions.
- Leverage industry-leading digital capabilities.
- Remain committed to growth and intend to open approximately 1,000 new stores in the year ahead.
Headwinds
- Significant headwinds in the first quarter.
- Traffic is significantly lower in transportation and tourist locations.
- Chinese New Year holiday season will be subdued.
- Sales impacted by substantially less travel, smaller gatherings and generally reduced social activities.
- Tightened public health measures across China.
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
+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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