YUM

EX-99.1

2 a8kex9917302026.htm

EX-99.1

Document

NEWS

Yum! Brands Reports Second-Quarter Results

Taco Bell Same-Store Sales Growth 7%; KFC Unit Growth 7%;

Digital System Sales Mix Excluding Pizza Hut Exceeded 60%

Louisville, KY (July 30, 2026) - Yum! Brands, Inc. (NYSE: YUM) today reported results for the second quarter ended June 30, 2026. Second-quarter GAAP EPS was $3.08 and second-quarter EPS excluding Special Items was $1.62.

CHRIS TURNER COMMENTS

Chris Turner, CEO, said “We delivered another strong quarter with robust same-store sales and restaurant-level margin performance. We also reached separate definitive agreements with two exceptional buyers for the Pizza Hut business, bringing our strategic review process to a close. Yum! will enter its next chapter as a more focused organization positioned to accelerate growth. As we continue to Raise the B.A.R., our priorities are to deepen consumer relevance, improve restaurant economics, bring the benefits of Byte by Yum! to more of our system and allocate capital in a way that creates sustained shareholder value. Our message is straightforward: Yum! is built for dependable growth, disciplined execution and long-term value creation.”

STRATEGIC ANNOUNCEMENTS

•On June 15th, KFC launched its next chapter on the journey to set the standard for the modern chicken QSR. This involves a refreshed brand identity and a menu revamp that is centered around boneless chicken, beverages and crave-worthy sauces. KFC is bringing consumers a more flavor-forward experience built to unlock flavor exploration, personalization and craveability while giving fans more ways to customize to make the menu their own. KFC's aspiration is to have core elements of its strategy live across its Top 20 markets by the end of 2027.

•On June 16th, Yum! entered into two definitive agreements to sell Pizza Hut. Pizza Hut, excluding Mainland China, will be acquired by LongRange Capital, a private equity firm with a consumer-centric and operationally oriented approach, and Pizza Hut in Mainland China will be acquired by Yum China, which will remain Yum!'s master franchisee for KFC and Taco Bell in Mainland China. The sale provides the strongest path to maximize shareholder value while providing Pizza Hut an ownership structure tailored to its distinct markets, competitive strengths and long-term priorities.

SECOND-QUARTER HIGHLIGHTS

•Worldwide system sales grew 5%, excluding foreign currency translation.

•Unit count increased 5% including 1,053 gross new units in the quarter.

•GAAP Operating Profit grew 5% and Core Operating Profit grew 5%.

•Foreign currency translation favorably impacted divisional operating profit by $16 million.

•Excluding Pizza Hut, digital system sales approached $9 billion, with digital mix exceeding 60%.

•Excluding Pizza Hut, system sales grew 7% excluding foreign currency translation, unit count grew 6%, same-store sales grew 4% and Core Operating Profit grew 8%.

Reported Results% Change

System Sales Ex F/XSame-Store SalesUnitsGAAP Operating Profit Core

Operating Profit1

KFC Division+6+2+7+13+9

Taco Bell Division+9+7+3+19+19

Pizza Hut Division(2)(1)+1(12)(14)

Worldwide+5+3+5+5+5

Second-QuarterYear-to-Date

20262025% Change20262025% Change

GAAP EPS$3.08$1.33+131$4.62$2.23+107

Less Special Items EPS1

$1.46$(0.11)NM$1.50$(0.51)NM

EPS Excluding Special Items$1.62$1.44+12$3.12$2.74+14

1 See reconciliation of Non-GAAP Measurements to GAAP Results within this release for further detail of Core Operating Profit and Special Items.

All comparisons are versus the same period a year ago.

System sales growth figures exclude foreign currency translation ("F/X") and core operating profit growth figures exclude F/X and Special Items. Special Items are not allocated to any segment and therefore only impact worldwide GAAP results. See reconciliation of Non-GAAP Measurements to GAAP Results within this release for further details.

Digital system sales includes all transactions at system restaurants where consumers utilize ordering interaction that is primarily facilitated by automated technology.

Yum! Brands, Inc. • 1900 Colonel Sanders Lane • Louisville, KY 40213 • P: 502 874-8300 • investors.yum.com

KFC DIVISION

Second-QuarterYear-to-Date

%/ppts Change%/ppts Change

20262025ReportedEx F/X20262025ReportedEx F/X

Restaurants34,74732,369+7N/A34,74732,369+7N/A

System Sales ($MM)9,5668,721+10+618,89417,061+11+6

Same-Store Sales Growth (%)+2+2NMNM+2+2NMNM

Franchise and Property Revenues ($MM)477437+9+6938844+11+7

Operating Profit ($MM)410363+13+9793694+14+9

Operating Margin (%)44.342.7+1.6+1.644.042.8+1.2+1.2

•KFC Division opened 660 gross new restaurants across 55 countries.

•Company-owned restaurant margins were 12.0%, down 10 basis points year-over-year.

•Foreign currency translation favorably impacted operating profit by $14 million.

KFC Markets1

Percent of KFC System Sales2 System Sales Growth Ex F/X

Second-Quarter

(% Change)Year-to-Date (% Ch

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yum-202602040001041061false00010410612026-02-042026-02-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)

February 4, 2026

Commission file number 1-13163

YUM! BRANDS, INC.

(Exact name of registrant as specified in its charter)

North Carolina13-3951308 (State or other jurisdiction of(I.R.S. Employer incorporationIdentification No.)

1441 Gardiner Lane,Louisville,Kentucky40213 (Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code:(502)874-8300

Former name or former address, if changed since last report:N/A

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act

Title of Each ClassTrading Symbol(s)Name of Each Exchange on Which Registered Common Stock, no par valueYUMNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Section 2 – Financial Information

Item 2.02      Results of Operations and Financial Condition

On February 4, 2026, Yum! Brands, Inc. issued a press release announcing financial results for the quarter and year ended December 31, 2025.  A copy of the press release is attached hereto as Exhibit 99.1.

Section 9 – Financial Statements and Exhibits

Item 9.01      Financial Statements and Exhibits

(c)Exhibits 99.1Press Release dated February 4, 2026 from Yum! Brands, Inc.

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

YUM! BRANDS, INC.

(Registrant)

Date:February 4, 2026 /s/ David Russell Sr. Vice President, Finance and Corporate Controller (Principal Accounting Officer)