Yum! Brands, Inc. (YUM) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

I'm your host, Matt Morris, head of investor regulations to begin. Please go ahead, Matt. Good morning, everyone, and thank you for joining us today. On our call are Chris Turner, our CEO, Ranjith Roy, our CFO, on GAAP financial measures. Please note that during today's call, system sales and operating profit growth will exclude the impact of foreign currency. Our fourth quarter results reflect the comparison against an extra week in 2024 for business units that report on a period calendar basis. However, all figures discussed on this call exclude the impact of lapping that additional week. For more details on our reporting calendars by market, please refer to our financial reports section of our IR website. We are broadcasting this conference call via our website. This call is also being recorded and will be available for playback. We would like to make you aware that our first quarter earnings will be released on April 29th with a conference call on the same day. Now, I'll turn the call over to our CEO, Chris Turner. Thank you, Matt, and good morning, everyone. Yum! delivered another year of outstanding results at KFC and Taco Bell with our fundamentals stronger than ever at both brands. Looking back at 2025, Taco Bell again gained market share, outperforming the QSR industry with exceptional 7% same-store sales growth, and KFC delivered record-breaking unit development while hitting an incredible milestone in opening its 30,000th international restaurant. Both Taco Bell and KFC delivered 10% divisional core operating profit growth, a strong outcome that speaks to the durability of Yum's portfolio and the skillful execution of our team. And these great results build on multiple years of compounding success, as best highlighted by Taco Bell's system sales being up n...