Yum! Brands, Inc. · NYSE:YUM
Yum! Brands — Q4 2023 Earnings Presentation
11 slides from Yum! Brands's earnings presentation, Feb 7, 2024
Slide 1: 4Q23 Earnings Presentation
4Q23 Earnings Presentation February 2024 The Crossing Clarendon | Washington DC
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: Regency's Unequaled Strategic Advantages
Regency’s 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 Well located in suburban trade areas with compelli
Slide 4: Regency's Mission, Vision, & Values
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 communities. WE DO WE CONNECT WE WE AR
Slide 5: 2024 Earnings Guidance Summary
2024 Earnings Guidance Summary Full Year 2024 Guidance (in thousands, except per share data) 2023 Actual 2024 Guidance Net Income Attributable to Common Shareholders per diluted share $2.04 $1.87 - $1.93 Nareit Funds From Operations (“Nareit FFO”) per diluted share $4.15 $4.14 - $4.20 (1) Core Opera
Slide 6: Nareit FFO – '23 Actual to '24 Guidance Reconciliation
EARNINGS GUIDANCE Nareit FFO – ‘23 Actual to ‘24 Guidance Reconciliation Growth in SP NOI (ex. term fees, ex. ‘20/’21 collections) is contributing +11c/share to 2024 FFO at the midpoint Guidance for COE per share growth (ex. ‘20/’21 reserve collections) is ~3% at the midpoint in 2024 2023 Nareit
Slide 7: Drivers of 2024 Same-Property NOI Growth
Drivers of 2024 Same-Property NOI Growth Guidance for 2024 SP NOI Growth (ex. Term Fees, ex. ‘20/’21 Collections) is +2.0% to +2.5% Excludes the $4.4M collection of ‘20/’21 reserves in 2023 Primary drivers of our +2.0% to +2.5% SP NOI growth guidance range include: o Base rent growth, driven p
Slide 8: Strong Balance Sheet Position
Strong Balance Sheet Position Capital Structure Pro Rata Debt Maturity Profile as of December 31, 2023 (% of total capitalization) Regency aims to have < 15% of total debt maturing in any given year <1% 4% 1% 3% 19% $17.3 Billion Total 72% Capitalization Equity Weighted Average Interest Rate: 3.9% W
Slide 9: In-Process Developments & Redevelopments
In-Process Developments & Redevelopments As of 12/31/2023, Regency's in-process development & redevelopment projects totaled $468 million at ~8% estimated stabilized yields SunVet Buckhead Landing Bloom on Third Long Island, NY Atlanta, GA Los Angeles, CA Estimated Future Spend In-Process Developmen
Slide 10: Regency's Approach to Corporate Responsibility
Regency’s Approach to Corporate Responsibility Corporate Responsibility is at the foundation of who we are and what we do We believe that acting responsibly is strategic to the long-term sustainability and success of our business, our stakeholders, and the environment Our Corporate Responsibility pr
Slide 11: 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 Operating FFO for (i) capital expenditures necessar