Yum! Brands: Reports Third Quarter 2022 Results

Louisville / KY. (yb) Yum! Brands Inc. reported results for the third quarter ended September 30, 2022. Worldwide system sales excluding foreign currency translation grew 7 percent, with 5 percent same-store sales growth and 4 percent unit growth. Third quarter GAAP operating profit grew 4 percent. Third quarter core operating profit grew 8 percent including a 3-point headwind from Russia. Third quarter GAAP EPS was USD 1.14 and third quarter EPS excluding Special Items was USD 1.09. Our year-over-year EPS excluding Special Items results reflect a USD 0.23 negative impact from a higher current year tax rate, lower investment gains and the removal of Russia-based profits. Foreign currency translation also unfavorably impacted our EPS by USD 0.10.

Chief Executive’s Commentary

David Gibbs, CEO, said «I’m pleased to report another strong quarter for Yum!, with system sales growth of 10 percent excluding Russia, driven by strong demand for our iconic brands, increased digital adoption and continued momentum on unit development. Our three global brands delivered widespread system sales growth, once again demonstrating that our globally diversified business, led by our world-class teams and franchisees, can thrive in any environment.»

For additional information please read the company’s PDF file below (164 KB):

20221103-YUM-BRANDS-Q3-2022
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