Yum! Brands ( (YUM) ) has released its Q3 earnings. Here is a breakdown of the information Yum! Brands presented to its investors.
Yum! Brands, Inc. is a global leader in the quick-service restaurant industry, operating over 60,000 restaurants in more than 155 countries under popular brands like KFC, Taco Bell, Pizza Hut, and Habit Burger & Grill. The company is renowned for its diverse menu offerings and significant global presence.
In its third-quarter earnings report for 2024, Yum! Brands announced modest growth, with worldwide system sales increasing by 1% excluding foreign currency translation. The company reported a GAAP operating profit growth of 1% and a core operating profit growth of 3%, showcasing resilience in a challenging consumer environment.
Key highlights from the report include a 4% same-store sales growth for Taco Bell in the U.S., a 9% increase in KFC international unit growth, and robust digital sales that now exceed 50% of total sales. Taco Bell also reported system sales growth of 5%, while KFC saw a 1% growth in system sales. However, Pizza Hut experienced a slight decline with a 1% decrease in system sales.
Despite facing challenges like geopolitical conflicts and changing consumer sentiments, Yum! Brands remains optimistic about its future, leveraging its strong brand portfolio and innovative technology to drive growth. The company is positioned for ongoing expansion and aims to continue enhancing its digital capabilities to improve customer and team member experiences.
