Yum! Brands, Inc. · NYSE:YUM
Yum! Brands — Q1 2025 Earnings Presentation
16 slides from Yum! Brands's earnings presentation, Apr 30, 2025
Slide 1: 1Q25 Earnings Presentation
1Q25 Earnings Presentation Naperville Plaza| Naperville, IL
Slide 2: Safe Harbor and Non-GAAP Disclosures
Safe Harbor and Non-GAAP Disclosures Forward-Looking Statements Risk Factors Related to Funding Strategies and Capital Structure Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market Our ability to sell properties and fun
Slide 3: Unequaled Strategic Advantages
Unequaled Strategic Advantages High Quality Open-Air Shopping Center Portfolio 80%+ grocery-anchored neighborhood & community centers Necessity, service, convenience, and value retailers serving the essential needs of our communities Located in suburban trade areas with compelling demographics
Slide 4: Regency's Mission, Vision, & Values
STATEGY, GOALS, & OBJECTIVES Regency's Mission, Vision, & Values Mission Regency Centers creates thriving environments for retailers and service providers to connect with surrounding neighborhoods and communities. Vision To elevate quality of life as an integral thread in the fabric of our communiti
Slide 5: 2025 Earnings Guidance Summary
2025 Earnings Guidance Summary Full Year 2025 Guidance (in thousands, except per share data) YTD Actual 2025 Guidance Previous Guidance Net Income Attributable to Common Shareholders per diluted share $0.58 $2.25 - $2.31 $2.25 - $2.31 Nareit Funds From Operations (“Nareit FFO”) per diluted share $1.
Slide 6: '24 Actual to '25 Nareit FFO Guidance Reconciliation
‘24 Actual to ‘25 Nareit FFO Guidance Reconciliation ~6% y/y Nareit FFO/shr growth guidance at the midpoint; primary drivers include: (+) SP NOI: Growth of +3.2% to +4.0%, including redevelopment impact and credit loss of 75-100bps as a % of revenues (+) Capital Allocation: Accretion from net
Slide 7: Runway for Commencement Occupancy Upside
Runway for Commencement Occupancy Upside We have further upside opportunity in commenced occupancy, with the potential to exceed prior peak levels Historical Same Property Portfolio Occupancy REGENCY CENTERS EARNINGS PRESENTATION 7
Slide 8: Components of Growth – Same Property NOI
Components of Growth – Same Property NOI Total Rent Growth is the Largest Contributor to Sustainable SP NOI Growth Contractual Rent Steps ◄ RENT GROWTH ► Cash Releasing Spreads Same-property tenant pool 1% spread = 10-15bps of SP NOI rent steps of ~2%, contributing Long term target of upper ~1
Slide 9: SNO Commencement Timing & Composition
SNO Commencement Timing & Composition The signed-not-occupied (SNO) pipeline reflects a 300bps SP leased-to-occupied spread and represents ~$46M of incremental base rent ABR Commencement Timing (1) Cumulative ABR Cad 100% 100% 80% 80% Shops Anchors 60% 42% 58% 40% 29% 20% 0% 1H25 FY25 FY26 ABR Recog
Slide 10: Necessity, Service, Convenience & Value Retail
Necessity, Service, Convenience & Value Retail Tenant Category Composition by ABR (1) Grocery remains Regency’s top category exposure, and is a vital component of our strategy Restaurant (quick-service & full- service) exposure has remained in the 17-20% range over time, fitting well with our gr
Slide 11: Stabilization Timeline for In-Process Projects
Stabilization Timeline for In-Process Projects Regency currently has ~$500M of in-process development and redevelopment projects stabilizing over the next three years Circle Marina Center | Long Beach, CA The Shops at SunVet | Holbrook, NY 2026 Stabilization Baybrook East – Ph 1B Serramonte Cent
Slide 12: 1Q25 Acquisition: Brentwood Place (Nashville)
1Q25 Acquisition: Brentwood Place (Nashville) The $119M acquisition of Brentwood Place will significantly enhance our pricing power & recognition throughout the Nashville market Investment Highlights 320K SF community center located in Brentwood, Nashville’s most affluent submarket Anchored by T
Slide 13: Strong Balance Sheet Position
Strong Balance Sheet Position Capital Structure Pro Rata Debt Maturity Profile as of March 31, 2025 (% of total capitalization) Regency aims to have <15% of total debt maturing in any given year 1% 1% 3% 4% 20% $18.9 Billion Total Capitalization 71% Weighted Average Interest Rate: 4.2% Equity Weight
Slide 14: Embodied Corporate Responsibility
Embodied Corporate Responsibility Corporate responsibility is strategic to the long-term sustainability and success of our business. REGENCY’S FOUR PILLARS OF CORPORATE RESPONSIBILITY People & Our Ethics & Environmental Culture Communities Governance Stewardship Regency’s best-in-class corporate res
Slide 15: Glossary of Terms
APPENDI X Glossary of Terms Adjusted Funds From Operations (AFFO): An additional performance measure used by Regency that reflects cash available to fund the Company’s business needs and distribution to shareholders. AFFO is calculated by adjusting Core Operating Earnings for (i) capital expenditure
Slide 16: Glossary of Terms
APPENDI X Glossary of Terms Other lease income: includes revenue derived from various lease-related activities beyond standard base or percentage rent. This primarily includes income from temporary tenants, late fees, signage and marketing fees, sustainability income, land/building rentals, communic