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AI English summary of an SEC filing — figures as filed

Yum! Brands logoYum! Brands YUM

Yum said worldwide system sales, excluding foreign currency translation, grew 2% in Q1 2024, with same-store sales down 3%. GAAP operating profit fell 1% and core operating profit rose 6%.

8-KResults of Operations and Financial ConditionFiled Period of report Summary published (UTC)

Key points

AI summary
  1. Yum said worldwide system sales, excluding foreign currency translation, grew 2% in Q1 2024, with same-store sales down 3%. GAAP operating profit fell 1% and core operating profit rose 6%.

  2. The company said GAAP EPS for Q1 was $1.10 ($1.05 a year earlier) and EPS excluding Special Items was $1.15 ($1.06 a year earlier). It cited after-tax negative impacts of $0.08 from investment losses and $0.03 from foreign currency translation in EPS.

  3. The company said KFC division operating profit for Q1 was $313 million (+3%), Taco Bell division operating profit was $208 million (+2%) and Pizza Hut division operating profit was $93 million (-11%). It said Pizza Hut division system sales fell 4% excluding foreign currency translation.

  4. The company said net cash provided by operating activities for Q1 2024 (3 months) was $363 million, and the pre-tax proceeds from the sale of its stake in Devyani International Limited were $104 million. Dividends paid in the same quarter totaled $189 million.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Q1 2024 System Sales and Operating Profit Change

Yum said worldwide system sales, excluding foreign currency translation, grew 2% in Q1 2024, with same-store sales down 3%. GAAP operating profit fell 1% and core operating profit rose 6%.

Source · Based on the filing body and exhibits

GAAP EPS and EPS Excluding Special Items

The company said GAAP EPS for Q1 was $1.10 ($1.05 a year earlier) and EPS excluding Special Items was $1.15 ($1.06 a year earlier). It cited after-tax negative impacts of $0.08 from investment losses and $0.03 from foreign currency translation in EPS.

Source · Based on the filing body and exhibits

Division Operating Profit and Revenue Change

The company said KFC division operating profit for Q1 was $313 million (+3%), Taco Bell division operating profit was $208 million (+2%) and Pizza Hut division operating profit was $93 million (-11%). It said Pizza Hut division system sales fell 4% excluding foreign currency translation.

Source · Based on the filing body and exhibits

Operating Cash Flow and Devyani Stake Sale

The company said net cash provided by operating activities for Q1 2024 (3 months) was $363 million, and the pre-tax proceeds from the sale of its stake in Devyani International Limited were $104 million. Dividends paid in the same quarter totaled $189 million.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.