Yum! Brands: Reports Fourth-Quarter 2022 Results

Louisville / KY. (yb) Yum! Brands Inc. reported results for the fourth-quarter and year ended December 31, 2022. Fourth-quarter GAAP EPS was USD 1.29, an increase of 17 percent. Fourth-quarter EPS excluding Special Items was USD 1.31, an increase of 29 percent. Full-year GAAP EPS was USD 4.57, a decrease of (12) percent. Full-year EPS excluding Special Items was USD 4.51, an increase of 1 percent. Full-year GAAP Operating Profit growth was 2 percent. Full-year Core Operating Profit growth was 6 percent, including a 2-point headwind from the removal of Russia profits.

David Gibbs + Chris Turner Comments

David Gibbs, CEO, said «2022 was a landmark year for Yum! as we beat our own industry record for unit development, opening an incredible 4,560 gross new units. Despite a challenging environment, we achieved widespread system sales growth of 8 percent excluding Russia with USD 24 billion in digital sales, demonstrating that our iconic brands are more relevant, easy and distinctive than ever. I’m confident that our distinct competitive advantages including our world-class franchisees and the industry’s best talent will drive accelerated growth in the future.»

Chris Turner, CFO, said «Our fiscal 2022 results delivered on our raised long-term growth algorithm with record-setting net new unit growth and 4 percent same-store sales growth. Despite inflationary pressures and a 2-point negative impact from Russia, we delivered 6 percent Core Operating Profit growth – a testament to the strength of our enterprise. We remain focused on executing the strategies underlying our Recipe for Good Growth to drive our business forward. I’m also pleased to announce our Board of Directors approved an increased quarterly dividend of USD 0.605.»

For additional information please read the company’s PDF file below (194 KB):