Business
Yum Brands : First Quarter 2026 Financial Summary
Yum Brands : First Quarter 2026 Financial
About this update from Yum! Brands, Inc.
YUM! Brands, Inc. Historical Financial Summary First Quarter, 2026 YUM! Brands, Inc. Consolidated Statements of Income (in millions, except per share and unit amounts) Revenues Company sales Franchise and property revenues Franchise contributions for advertising and other services Total revenues Costs and Expenses, Net Company restaurant expenses General and administrative expenses Franchise and property expenses Franchise advertising and other services expense Refranchising (gain) loss Other (income) expense Total costs and expenses, net 2026 2025 2024 2023 2022 2021 Q1 (unaudited) Q1 (unaudited) Q2 (unaudited) Q3 (unaudited) Q4 (unaudited) FY FY FY FY FY $ 785 $ 607 $ 669 $ 697 $ 971 $ 2,945 $ 2,552 $ 2,142 $ 2,072 $ 2,106 856 785 835 857 997 3,473 3,295 3,247 3,096 2,900 418 395 428 426 547 1,796 1,702 1,687 1,674 1,578 2,059 1,787 1,933 1,979 2,514 8,214 7,549 7,076 6,842 6,584 677 520 560 587 815 2,483 2,120 1,774 1,745 1,725 322 302 302 282 377 1,262 1,181 1,193 1,140 1,060 43 34 39 35 33 140 134 123 123 117 419 396 428 427 547 1,799 1,711 1,683 1,667 1,576 (1) (5) (11) (17) (15) (48) (34) (29) (27) (35) (45) (8) (7) (1) 18 2 34 14 7 2 1,415 1,239 1,311 1,313 1,776 5,639 5,146 4,758 4,655 4,445 644 548 622 666 738 2,574 2,403 2,318 2,187 2,139 - (1) - - - (1) 21 (7) (11) (86) - - (1) 1 (2) (2) (7) (6) 9 7 128 120 123 124 133 501 489 513 527 544 516 429 499 541 607 2,077 1,900 1,818 1,662 1,674 84 176 125 144 72 518 414 221 337 99 $ 432 $ 253 $ 374 $ 397 $ 535 $ 1,559 $ 1,486 $ 1,597 $ 1,325 $ 1,575 Operating Profit Investment (income) expense, net Other pension (income) expense Interest expense, net Income before income taxes Income tax provision $ 1.56 $0.91 $1.34 $1.42 $1.92 $5.59 $ 5.28 $ 5.68 $ 4.63 $ 5.30 277 280 279 278 278 279 282 281 286 297 $ 1.55 $0.90 $1.33 $1.41 $1.91 $5.55 $ 5.22 $ 5.59 $ 4.57 $ 5.21 279 282 281 281 280 281 285 285 290 302 Basic EPS - Continuing Operations Reported EPS Weighted average shares used in computation Diluted EPS - Continuing Operations Reported EPS Weighted average shares used in computation Net Income - YUM! Brands, Inc. System sales growth Reported Ex/FX Ex/FX and 53 rd week 10% 3% 5% 6% 3% 4% 3% 8% 2% 16% 6% 5% 4% 5% 2% 4% 4% 10% 6% 13% N/A N/A N/A N/A 5% 5% 3% N/A N/A N/A Company sales Franchisee sales System Sales $ 785 $ 607 $ 669 $ 697 $ 971 $ 2,945 $ 2,552 $ 2,142 $ 2,072 $ 2,105 16,218 14,896 15,608 16,354 18,492 65,350 62,914 61,647 57,211 56,082 $ 17,003 $ 15,503 $ 16,277 $ 17,051 $ 19,464 $ 68,295 $ 65,466 $ 63,789 $ 59,283 $ 58,187 3% 3% 2% 3% 3% 3% (1)% 6% 4% 10% 400 (460) 386 744 1,269 1,939 2,638 3,347 3,102 3,071 Worldwide System Same Store Sales Growth (Decline) Net Unit Growth/(Decline) * See accompanying "Notes to Historical Financial Summary". ** Net unit growth in 2025 reflects the removal of 283 and 254 Turkey units from the KFC & PH global unit counts, respectively, in Q1. Net unit growth in 2024 reflects the removal of 120 Jeno's & Telepizza branded units in Colombia & Chile from the PH global unit count and the KFC acquisition of 216 UK and Ireland units from the Net unit growth in 2022 reflects our election to remove 1,112 KFC and 53 PH units in Russia from our unit count. YUM! Brands, Inc. 2026 2025 2024 2023 2022 2021 Q1 (unaudited) Q1 Q2 Q3 Q4 (unaudited) (unaudited) (unaudited) (unaudited) FY FY FY FY FY $ 255 $ 216 $ 245 $ 259 $ 337 $ 1,057 $ 801 $ 484 $ 491 $ 596 461 407 437 459 504 1,807 1,685 1,698 1,645 1,557 163 149 167 161 201 679 613 648 698 640 879 773 849 879 1,041 3,542 3,099 2,830 2,834 2,793 229 196 216 224 294 929 703 417 426 490 87 80 86 88 118 372 363 383 390 377 19 16 20 15 15 66 63 72 69 74 161 149 162 160 198 670 610 648 684 627 - - - - 1 1 (3) 6 67 (5) 496 441 484 488 626 2,039 1,736 1,526 1,636 1,563 $ 383 $ 331 $ 365 $ 392 $ 415 $ 1,503 $ 1,363 $ 1,304 $ 1,198 $ 1,230 KFC Division Operating Results (in millions, except unit amounts) Revenues Company sales Franchise and property revenues Franchise contributions for advertising and other services Total revenues Costs and Expenses, Net Company restaurant expenses General and administrative expenses Franchise and property expenses Franchise advertising and other services expense Other (income) expense Total costs and expenses, net 12% 3% 6% 8% 6% 6% 2% 9% (1)% 19% 6% 5% 5% 6% 4% 5% 3% 12% 6% 16% N/A N/A N/A N/A 6% 6% 3% N/A N/A N/A Operating Profit System sales growth Reported Ex/FX Ex/FX and 53 rd week $ 255 9,073 $ 216 8,124 $ 245 8,476 $ 259 9,081 $ 337 9,696 $ 1,057 35,377 $ 801 33,651 $ 484 33,379 $ 491 30,625 $ 596 30,769 $ 9,328 $ 8,340 $ 8,721 $ 9,340 $ 10,033 $ 36,434 $ 34,452 $ 33,863 $ 31,116 $ 31,365 Company sales Franchisee sales System Sales 2% 2% 2% 3% 3% 3% (2)% 7% 4% 11% 435 17 371 582 946 1,916 2,081 2,140 1,938 1,934 System Same Store Sales Growth (Decline) Net Unit Growth * See accompanying "Notes to Historical Financial Summary". ** Net unit growth in 2025 reflects the removal of 283 Turkey units in Q1. Net unit growth in 2024 reflects the acquisition of 216 UK and Ireland units from the EG Group. Net unit growth in 2022 reflects our election to remove 1,112 KFC units in Russia from our unit count. YUM! Brands, Inc. 2026 2025 2024 2023 2022 2021 Q1 (unaudited) Q1 (unaudited) Q2 (unaudited) Q3 (unaudited) Q4 (unaudited) FY FY FY FY FY $ 372 $ 263 $ 287 $ 298 $ 433 $ 1,281 $ 1,155 $ 1,069 $ 1,002 $ 944 251 234 248 254 324 1,060 997 918 837 742 175 160 176 178 240 754 708 654 598 552 797 657 711 730 997 3,095 2,860 2,641 2,437 2,238 284 204 217 227 323 971 872 817 766 719 53 49 49 50 67 215 199 204 191 174 6 6 7 8 7 29 33 32 33 33 173 157 176 177 240 750 708 644 599 553 1 - - - - - (1) - (2) 1 517 416 449 463 638 1,966 1,811 1,697 1,587 1,480 $ 281 $ 241 $ 262 $ 267 $ 359 $ 1,129 $ 1,049 $ 944 $ 850 $ 758 Taco Bell Division Operating Results (in millions, except unit amounts) Revenues Company sales Franchise and property revenues Franchise contributions for advertising and other services Total revenues Costs and Expenses, Net Company restaurant expenses General and administrative expenses Franchise and property expenses Franchise advertising and other services expense Other (income) expense Total costs and expenses, net Operating Profit System sales growth 10% 11% 6% 9% 3% 7% 8% 9% 10% 13% 8% 11% 6% 9% 3% 7% 8% 9% 11% 13% N/A N/A N/A N/A 8% 8% 6% N/A N/A N/A Reported Ex/FX Ex/FX and 53 rd week $ 372 4,022 $ 263 3,717 $ 287 3,988 $ 298 4,070 $ 433 5,305 $ 1,281 17,080 $ 1,155 16,038 $ 1,069 14,846 $ 1,002 13,651 $ 944 12,336 $ 4,394 $ 3,980 $ 4,275 $ 4,368 $ 5,738 $ 18,361 $ 17,193 $ 15,915 $ 14,653 $ 13,280 Company sales Franchisee sales System Sales 8% 9% 4% 7% 7% 7% 4% 5% 8% 11% (9) (34) 33 60 214 273 193 346 427 364 System Same Store Sales Growth (Decline) Net Unit Growth/(Decline) * See accompanying "Notes to Historical Financial Summary". YUM! Brands, Inc. 2026 2025 2024 2023 2022 2021 Q1 (unaudited) Q1 (unaudited) Q2 (unaudited) Q3 (unaudited) Q4 (unaudited) FY FY FY FY FY $ 32 $ 3 $ 7 $ 9 $ 32 $ 51 $ 8 $ 14 $ 21 $ 46 142 143 147 146 166 602 622 622 607 597 80 85 85 85 105 360 378 383 376 385 253 231 239 240 303 1,013 1,008 1,019 1,004 1,028 31 4 7 10 31 52 8 14 21 43 59 55 54 50 60 219 219 221 211 201 17 11 10 11 9 41 34 15 13 11 84 89 90 89 108 376 390 389 382 395 (3) (2) (3) (4) (5) (14) (16) (11) (10) (9) 189 156 159 156 202 673 635 628 617 641 $ 64 $ 74 $ 80 $ 84 $ 101 $ 340 $ 373 $ 391 $ 387 $ 387 Pizza Hut Division Operating Results (in millions, except unit amounts) Revenues Company sales Franchise and property revenues Franchise contributions for advertising and other services Total revenues Costs and Expenses, Net Company restaurant expenses General and administrative expenses Franchise and property expenses Franchise advertising and other services expense Other (income) expense Total costs and expenses, net 3% (4)% (1)% (0)% (4)% (2)% (2)% 4% (1)% 8% (0)% (3)% (1)% (1)% (5)% (3)% (1)% 5% 3% 6% N/A N/A N/A N/A (2)% (2)% (1)% N/A N/A N/A Operating Profit System sales growth Reported Ex/FX Ex/FX and 53 rd week $ 32 3,083 $ 3 3,025 $ 7 3,109 $ 9 3,167 $ 32 3,442 $ 51 12,743 $ 8 13,100 $ 14 13,301 $ 21 12,832 $ 46 12,909 $ 3,114 $ 3,028 $ 3,116 $ 3,177 $ 3,473 $ 12,794 $ 13,108 $ 13,315 $ 12,853 $ 12,955 Company sales Franchisee sales System Sales 0% (2)% (1)% (1)% (1)% (1)% (4)% 2% 0% 7% (30) (439) (18) 104 102 (251) 359 832 706 742 System Same Store Sales Growth (Decline) Net Unit Growth/(Decline) * See accompanying "Notes to Historical Financial Summary". ** Net unit decline in 2025 reflects the removal of 254 Turkey units in Q1. Net unit growth in 2024 reflects the removal of 120 Jeno's & Telepizza branded units in Colombia & Chile. Net unit growth in 2022 reflects our election to remove 53 PH units in Russia from our unit count. System Same Store Sales Growth KFC Taco Bell Pizza Hut QTD YTD QTD YTD QTD YTD % % % % % % Q1 2026 2% 8% 0% Q4 2025 3% 3% 7% 7% -1% -1% Q3 2025 3% 7% -1% Q2 2025 2% 4% -1% Q1 2025 2% 9% -2% Q4 2024 0% -2% 5% 4% -1% -4% Q3 2024 -4% 4% -4% Q2 2024 -3% 5% -3% Q1 2024 -2% 1% -8% Q4 2023 2% 7% 3% 5% -2% 2% Q3 2023 6% 8% 1% Q2 2023 13% 4% 4% Q1 2023 9% 8% 7% Q4 2022 5% 4% 11% 8% 1% 0% Q3 2022 7% 6% 1% Q2 2022 -1% 8% -3% Q1 2022 3% 5% 0% Q4 2021 5% 11% 8% 11% 3% 7% Q3 2021 6% 5% 4% Q2 2021 30% 21% 10% Q1 2021 8% 9% 12% Global Unit Count by Brand & Market & Ownership Type P3 2026 KFC Franchise & Pizza Hut Franchise & Taco Bell Franchise & Habit Burger & Grill Franchise & Company License Total Company License Total Company License Total Company License Total Total Albania Algeria Andorra Angola Antigua Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Bermuda Bolivia Bonaire Bosnia Botswana Brazil Brunei Bulgaria Cambodia Canada Chile China Colombia Costa Rica Croatia Curacao Cyprus Czech Republic Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Estonia Ethiopia Finland France French Guiana Gabon Georgia Germany Ghana Gibraltar Grand Cayman Greece Grenada Guadeloupe Guam Guatemala Guyana Honduras Hong Kong Hungary Iceland India Indonesia Iraq Ireland Israel Italy Ivory Coast Jamaica Japan Jordan Kazakhstan Kyrgyzstan Kenya Korea Kosovo Kuwait Latvia Lebanon Lesotho Lithuania Luxembourg Macau Macedonia Madagascar Malawi Malaysia Maldives Malta Martinique Mauritius - 11 11 - 4 4 - - - - 12 12 - 3 3 - 53 53 - 17 17 - 4 4 70 765 835 - 23 23 - 39 39 - 13 13 - 24 24 - 47 47 - 12 12 - 91 91 - 21 21 - 1 1 - 3 3 - 1 1 - 5 5 - 21 21 - 255 255 - 18 18 - 41 41 - 14 14 - 681 681 - 168 168 - 13,454 13,454 - 173 173 - 69 69 - 14 14 - 6 6 - 28 28 - 140 140 - - - - 1 1 - 48 48 - 177 177 - 175 175 - 20 20 - 10 10 - - - - 8 8 - 399 399 - 1 1 - 5 5 - 20 20 - 217 217 - 43 43 - - - - 3 3 - 22 22 - 4 4 - 3 3 - 7 7 - 17 17 - 12 12 - 27 27 - 81 81 - 106 106 - 8 8 19 1,386 1,405 - 678 678 - 20 20 18 17 35 - 13 13 - 152 152 - 7 7 - 43 43 - 1,341 1,341 - 24 24 - 97 97 - 23 23 - 45 45 - 241 241 - 16 16 - 79 79 - 8 8 - 17 17 - 11 11 - 12 12 - 2 2 - 2 2 - 8 8 - 3 3 - 3 3 - 758 758 - 2 2 - 4 4 - 1 1 - 28 28 - 2 2 - 3 3 - 1 1 - 4 4 - - - - - - - 8 8 - 3 3 - 291 291 - - - - 16 16 - 1 1 - 18 18 - 24 24 - - - - - - - 109 109 - - - - 5 5 - - - - - - - - - - 260 260 - 19 19 - - - - 11 11 - 645 645 - 20 20 - 4,375 4,375 - 26 26 - 61 61 - 7 7 - 4 4 - 34 34 - 15 15 - 2 2 - - - - 40 40 - 81 81 - 94 94 - 84 84 - - - - 12 12 - 22 22 - 117 117 - - - - 3 3 - 5 5 - 69 69 - 27 27 - 1 1 - 2 2 - 3 3 - 2 2 - - - - 5 5 - 60 60 - 10 10 - 68 68 - 115 115 - 28 28 - 1 1 - 993 993 - 581 581 - 6 6 - 8 8 - 101 101 - - - - - - - 15 15 - 623 623 - 18 18 - - - - - - - 4 4 - 256 256 - - - - 83 83 - - - - 5 5 - - - - - - - 10 10 - 5 5 - - - - - - - - - - 461 461 - 1 1 - 4 4 - - - - 4 4 - - - - - - - - - - - - - - - - - - - - - - 4 4 - 36 36 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 3 3 - - - - 38 38 - - - - - - - - - - 86 86 - 16 16 - 27 27 - - - - 60 60 - - - - - - - 6 6 - - - - - - - - - - 26 26 - 5 5 - - - - 9 9 - - - - - - - 20 20 - - - - - - - - - - - - - - - - - - - - - - - - - 3 3 - - - - - - - 7 7 - 91 91 - - - - - - - - - - - - - - - - 156 156 - 7 7 - - - - 5 5 - - - - - - - - - - - - - 10 10 - - - - - - - - - - - - - 11 11 - - - - 15 15 - - - - - - - - - - - - - - - - - - - - - - - - - - - - 21 21 - - - - - - - - - - - - - - - 13 - - - 7 - - - 1 - - - 16 - - - 3 - - - 53 - - - 25 - - - 11 - - - 1,162 - - - 23 - - - 55 - - - 14 - - - 42 - - - 71 - - - 12 - - - 91 - - - 130 - - - 1 - - - 8 - - - 1 - - - 8 - - - 21 - - - 553 - - - 37 - - - 41 - - - 25 - - - 1,412 - - - 204 - - - 17,856 - - - 199 - - - 190 - - - 21 - - - 10 - - - 68 - - - 155 - - - 2 - - - 1 - - - 114 - - - 263 - - - 269 - - - 113 - - - 10 - - - 12 - - - 50 - - - 516 - - - 1 - - - 8 - - - 25 - - - 286 - - - 70 - - - 1 - - - 5 - - - 28 - - - 6 - - - 3 - - - 19 - - - 168 - - - 22 - - - 95 - - - 196 - - - 134 - - - 9 - - - 2,554 - - - 1,266 - - - 26 - - - 48 - - - 114 - - - 152 - - - 7 - - - 58 - - - 1,974 - - - 42 - - - 97 - - - 23 - - - 49 - - - 508 - - - 16 - - - 177 - - - 8 - - - 22 - - - 11 - - - 12 - - - 12 - - - 7 - - - 8 - - - 3 - - - 3 - - - 1,240 - - - 3 - - - 8 - - - 1 - - - 32 (a) Company KFC Franchise & License Total Company Pizza Hut Franchise & License Total Company Taco Bell Franchise & License Total Habit Burger & Grill Franchise & Company License Total Total Mexico - 613 613 Military - Asia - - - Military - Europe - - - Military - Latin America - - - Military - MENA - - - Military - United States - - - Moldova - 4 4 Mongolia - 28 28 Morocco - 50 50 Mozambique - 11 11 Myanmar - 38 38 Namibia - 22 22 Nepal - 26 26 Netherlands - 95 95 New Zealand - 122 122 Nicaragua - - - Nigeria - 40 40 Oman - 48 48 Pakistan - 143 143 Panama - 49 49 Paraguay - 11 11 Peru - 170 170 Philippines - 470 470 Poland - 405 405 Portugal - 82 82 Puerto Rico - 83 83 Qatar - 63 63 Reunion Island - 5 5 Romania - 111 111 Saipan - 1 1 Saudi Arabia - 313 313 Senegal - 8 8 Serbia - 22 22 Singapore - 73 73 Slovakia - 17 17 Slovenia - 5 5 Somaliland - - - South Africa 57 1,162 1,219 Spain - 299 299 Sri Lanka - 91 91 StKitts - 2 2 StLucia - 5 5 StMaarten - 2 2 StVincent - 2 2 Suriname - 8 8 Swaziland - 14 14 Sweden - 24 24 Switzerland - 17 17 Taiwan - 200 200 Tajikistan - 14 14 Tanzania - 13 13 Thailand - 1,226 1,226 Trinidad - 59 59 Tunisia - 10 10 Turkey - 29 29 Uganda - 26 26 UK 244 745 989 Ukraine - 71 71 United Arab Emirates - 237 237 United States 94 3,388 3,482 Uruguay - 2 2 USVI - 5 5 Uzbekistan - 37 37 Venezuela - 32 32 Vietnam - 244 244 West Bank - 17 17 Zambia 15 - 15 Zimbabwe - 20 20 TOTAL 517 33,815 34,332 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -62 - -73 - - - - - - - - 280 - - - -34 -31 60 -12 - 9 -153 18 14 36 17 -34 108 167 146 241 59 48 -26 1 144 - -58 3 - 1 51 702 125 - - - - 3 -43 -327 - 9 211 12 - - 1 323 -165 6,008 - 2 5 7 113 8 - 3 280 - - - -34 -31 60 -12 - 9 -153 18 14 36 17 -34 108 167 146 241 59 48 -26 1 144 - -58 3 - 1 51 702 125 - - - - 3 -43 -327 - 9 211 12 - - 1 385 -165 6,081 - 2 5 7 113 8 - 3 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -13 - -662 - - - - - - - - -17 12 1 4 - - - - - - - -10 19 - - - -13 - 4 12 -28 42 - -18 - - - 2 - - - - -180 11 - - - - - - 4 - - - -42 - - - -142 - -7,123 - - - - - - - - -17 12 1 4 - - - - - - - -10 19 - - - -13 - 4 12 -28 42 - -18 - - - 2 - - - - -180 11 - - - - - - 4 - - - -42 - - - -155 - -7,785 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -305 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -83 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -388 - - - - - - - - 893 17 12 1 4 34 4 59 110 11 50 22 35 105 294 18 54 84 160 62 45 282 649 551 351 184 111 5 155 2 457 8 24 131 20 5 1 1,270 1,181 227 2 5 2 2 11 14 71 17 527 14 22 1,479 71 10 29 27 1,529 71 402 17,736 2 7 42 39 357 25 15 23 63,685 135 19,809 19,944 675 8,346 9,021 305 83 388 - - - - - - - - - - - - - (a) 7 148 149 2 108 108 2 38 38 1 1 1 155 Total Global Market Count (a) - For PH, units physically located in Guam and Saipan are managed by the US. Countries Entered / Exited YTD: - Countries entered YTD (bolded represents addition to country count for global Yum): - Countries exited YTD (bolded represents reduction to country count for global Yum): China (Habit) Notes to Historical Financial Summary Note 1: Consult our filings with the Securities and Exchange Commission for additional details about our financial results. Note 2: Definitions of terms reflected in this summary are available at investors.yum.com . Note 3: Unless otherwise noted, results include the impact of a 53 rd week in our 2024 fiscal year. Note 4: Investment (income) expense, net, reflects the change in the market price of Devyani common stock. We sold our approximate 5% minority investment in Devyani during the quarter ended March 31, 2024. Note 5: 2021 and 2022 results were impacted by temporarily closed restaurants, including restaurants closed due to government restrictions, as of a result of COVID-19. The sales of restaurants we deem temporarily closed remain in our base for purposes of determining same-store sales growth and the restaurants remain in our unit count. Note 6: In 2021, when calculating same-store sales growth we also included in our prior year base the sales of stores in the quarter ended March 31, 2020, both before and after the acquisition date that were added as a result of our acquisition of The Habit Restaurants, Inc. on March 18, 2020, and that were open for one year or more.