Yum! Brands Q3 2024 10-Q Filing
Ticker: YUM · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 1041061
| Field | Detail |
|---|---|
| Company | Yum Brands Inc (YUM) |
| Form Type | 10-Q |
| Filed Date | Nov 7, 2024 |
| Risk Level | low |
| Pages | 17 |
| Reading Time | 20 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, earnings, restaurants
TL;DR
YUM 10-Q filed. Q3 financials out, covering KFC, Pizza Hut, Taco Bell performance.
AI Summary
Yum! Brands, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance across its various restaurant brands, including KFC, Pizza Hut, and Taco Bell. Key financial metrics and operational updates for the third quarter and year-to-date periods are presented.
Why It Matters
This filing provides investors and analysts with the latest financial and operational data for Yum! Brands, crucial for understanding the company's performance and future outlook in the competitive quick-service restaurant industry.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing providing standard disclosures.
Key Players & Entities
- YUM BRANDS INC (company) — Filer
- 20240930 (date) — Period of Report
- 20241107 (date) — Filing Date
- KFC (company) — Brand
- Pizza Hut (company) — Brand
- Taco Bell (company) — Brand
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240930, meaning the filing covers the period up to September 30, 2024.
When was this 10-Q filing submitted to the SEC?
The filing was submitted on 20241107.
What are the primary restaurant brands operated by Yum! Brands, Inc. as indicated in the filing context?
The filing context mentions KFC, Pizza Hut, and Taco Bell as key brands.
What is the fiscal year end for Yum! Brands, Inc.?
The fiscal year end for Yum! Brands, Inc. is 1231.
What is the Standard Industrial Classification code for Yum! Brands, Inc.?
The Standard Industrial Classification code is RETAIL-EATING PLACES [5812].
Filing Stats: 5,004 words · 20 min read · ~17 pages · Grade level 16.7 · Accepted 2024-11-07 15:51:36
Filing Documents
- yum-20240930.htm (10-Q) — 1828KB
- yum-9302024xex15.htm (EX-15) — 3KB
- yum-9302024xex311.htm (EX-31.1) — 10KB
- yum-9302024xex312.htm (EX-31.2) — 10KB
- yum-9302024xex321.htm (EX-32.1) — 6KB
- yum-9302024xex322.htm (EX-32.2) — 6KB
- 0001041061-24-000039.txt ( ) — 7813KB
- yum-20240930.xsd (EX-101.SCH) — 36KB
- yum-20240930_cal.xml (EX-101.CAL) — 66KB
- yum-20240930_def.xml (EX-101.DEF) — 273KB
- yum-20240930_lab.xml (EX-101.LAB) — 560KB
- yum-20240930_pre.xml (EX-101.PRE) — 411KB
- yum-20240930_htm.xml (XML) — 1287KB
Financial Information
Part I. Financial Information
- Financial Statements
Item 1 - Financial Statements Condensed Consolidated Statements of Income 4 Condensed Consolidated Statements of Comprehensive Income 5 Condensed Consolidated Statements of Cash Flows 6 Condensed Consolidated Balance Sheets 7 Condensed Consolidated Statements of Shareholders' Deficit 8 Notes to Condensed Consolidated Financial Statements 9
- Management's Discussion and Analysis of Financial Condition
Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations 23
- Quantitative and Qualitative Disclosures About Market Risk 39
Item 3 - Quantitative and Qualitative Disclosures About Market Risk 39
- Controls and Procedures 39
Item 4 - Controls and Procedures 39 Report of Independent Registered Public Accounting Firm 41
Other Information and Signatures
Part II. Other Information and Signatures
- Legal Proceedings 42
Item 1 - Legal Proceedings 42
- Risk Factors 42
Item 1A - Risk Factors 42
- Unregistered Sales of Equity Securities and Use of Proceeds 42
Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds 42
- Other Information 42
Item 5 - Other Information 42
- Exhibits 43
Item 6 - Exhibits 43 Signatures 44 2
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements 3 CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) YUM! BRANDS, INC. AND SUBSIDIARIES (in millions, except per share data) Quarter ended Year to date Revenues 9/30/2024 9/30/2023 9/30/2024 9/30/2023 Company sales $ 621 $ 510 $ 1,667 $ 1,495 Franchise and property revenues 804 796 2,350 2,351 Franchise contributions for advertising and other services 401 402 1,170 1,194 Total revenues 1,826 1,708 5,187 5,040 Costs and Expenses, Net Company restaurant expenses 523 421 1,393 1,239 General and administrative expenses 263 267 830 840 Franchise and property expenses 36 27 90 95 Franchise advertising and other services expense 401 400 1,169 1,183 Refranchising (gain) loss ( 12 ) ( 19 ) ( 31 ) ( 40 ) Other (income) expense ( 4 ) ( 1 ) ( 10 ) 14 Total costs and expenses, net 1,207 1,095 3,441 3,331 Operating Profit 619 613 1,746 1,709 Investment (income) expense, net ( 1 ) ( 16 ) 21 ( 21 ) Other pension (income) expense ( 2 ) ( 2 ) ( 5 ) ( 5 ) Interest expense, net 120 126 358 381 Income Before Income Taxes 502 505 1,372 1,354 Income tax provision 120 89 309 220 Net Income $ 382 $ 416 $ 1,063 $ 1,134 Basic Earnings Per Common Share $ 1.36 $ 1.48 $ 3.77 $ 4.03 Diluted Earnings Per Common Share $ 1.35 $ 1.46 $ 3.73 $ 3.97 Dividends Declared Per Common Share $ 0.67 $ 0.605 $ 2.01 $ 1.815 See accompanying Notes to Condensed Consolidated Financial Statements. 4 CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) YUM! BRANDS, INC. AND SUBSIDIARIES (in millions) Quarter ended Year to date 9/30/2024 9/30/2023 9/30/2024 9/30/2023 Net Income $ 382 $ 416 $ 1,063 $ 1,134 Other comprehensive income, net of tax Translation adjustments and gains (losses) from intra-entity transactions of a long-term investment nature Adjustments and gains (losses) arising during the period 34 ( 20 ) 26 ( 8 ) Reclassification of adjustments and (gains) losses into Net Income — — — 60 34 ( 20 ) 26 52 Ta