Yum! Brands: Reports Third-Quarter 2021 Results

Louisville / KY. (yb) Yum! Brands Inc. reported results for the third-quarter ended September 30, 2021. Worldwide system sales excluding foreign currency translation grew 8 percent, with 5 percent same-store sales and 4 percent unit growth. Third-quarter GAAP EPS was USD 1.75, an increase of 90 percent over the prior year quarter. Third-quarter EPS excluding Special Items was USD 1.22, an increase of 21 percent over the prior year quarter.

Commentary

David Gibbs, CEO, said «Our third quarter results, led by record-breaking unit development and sustained momentum in digital sales, are a testament to the strength of our Brands and the unmatched commitment and capability of our best-in-class franchise partners. I am proud that each of our global divisions contributed to delivering 760 net-new units in the quarter. Our 5 percent same store sales growth for the third quarter, or 3 percent same-store sales growth on a 2-year basis, demonstrates the resilience of our diversified global business model despite the headwind of the Delta variant in certain key markets.

«During the quarter, we advanced our digital capabilities with the acquisition of Dragontail and its AI-based integrated kitchen order management and delivery technologies that strengthens store operations, enhances the customer experience and makes it easier for team members to run a restaurant. As we continue to navigate the short-term uncertainties of the COVID recovery, we are incredibly confident in the ability of our iconic brands and our world-class talent to drive growth and maximize stakeholder value by delivering on our long-term growth algorithm.»

For additional information please read the company’s PDF file below (161 KB):

20211029-YUM-Q3-2021
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