Yum! Brands Reports Strong Fourth-Quarter and Full-Year Results

Yum! Brands, Inc. (NYSE: YUM) recently announced its financial results for the fourth quarter and full year ending December 31, 2024. The company reported a fourth-quarter GAAP EPS of $1.49 and EPS excluding Special Items of $1.61. For the full year, GAAP EPS was $5.22 and EPS excluding Special Items was $5.48, reflecting a 6% increase from the previous year.

David Gibbs, the CEO of Yum! Brands, highlighted the exceptional core operating profit growth in 2024 amidst a challenging consumer environment. He emphasized the resilience of the business model and the strength of the teams. Taco Bell U.S. achieved a same-store sales growth of 5% in the fourth quarter, outpacing the industry, while KFC International saw its units grow by over 2,000 for the second consecutive year.

Chris Turner, the CFO, mentioned the successful opening of 4,535 new stores in over 100 countries during 2024. He also highlighted the digital progress, with digital sales rising by approximately 15%, exceeding $9 billion, and digital mix surpassing 50%. The company is also launching Byte by Yum!, a proprietary Software as a Service digital ecosystem aimed at enhancing operations for both team members and consumers.

Recent strategic announcements include the introduction of Byte by Yum!, the promotion of Scott Mezvinsky to KFC Division Chief Executive Officer, and the opening of new innovative concepts such as Saucy by KFC, Live Más Cafe by Taco Bell, and a new restaurant design by Pizza Hut. The company is actively working towards enhancing its digital offerings and optimizing its operations.

In terms of financial performance, the company reported a 8% growth in worldwide system sales, excluding foreign currency translation, with solid growth across its divisions. KFC saw a 6% growth, Taco Bell 14%, and Pizza Hut 3%. Additionally, the company opened 1,804 gross units leading to a 5% year-over-year unit growth.

Looking ahead, Yum! Brands remains optimistic about its prospects for 2025, as it continues to focus on innovation, digital transformation, and operational efficiency. With a strong brand position, talented teams, and ongoing investments, the company is well-positioned for continued success in the coming year.

For further details on the financial results, the Company’s recent strategic moves, and its long-term growth targets, interested parties can tune into the upcoming conference call scheduled for 8:15 a.m. Eastern Time on Thursday, February 6, 2025.

The full details and a reconciliation of non-GAAP measurements to GAAP results can be found within the release.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Yum! Brands’s 8K filing here.

Yum! Brands Company Profile

Yum! Brands, Inc, together with its subsidiaries, develops, operates, and franchises quick service restaurants worldwide. The company operates through the KFC Division, the Taco Bell Division, the Pizza Hut Division, and the Habit Burger Grill Division segments. It also operates restaurants under the KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill brands, which specialize in chicken, pizza, made-to-order chargrilled burgers, sandwiches, Mexican-style food categories, and other food products.