YUM BRANDS INC

Yum! Brands reported strong second-quarter results, with GAAP EPS of $3.08 and worldwide system sales growth of 5% excluding foreign currency translation. The company also announced definitive agreements to sell its Pizza Hut business to LongRange Capital (excluding Mainland China) and Yum China (for Mainland China), aiming to maximize shareholder value and focus its portfolio. Taco Bell showed robust performance with 7% same-store sales growth, while KFC unit growth was 7%.

Yum! Brands, Inc. has entered into an Equity Purchase Agreement to sell its global Pizza Hut business (excluding the People's Republic of China) to Toppings TopCo, LLC. The transaction is valued at $1.488 billion in cash, with potential for an additional $75 million earn-out based on future financial performance. The sale is subject to customary closing conditions, including regulatory approvals and a pre-closing reorganization, and is expected to close by September 16, 2026.

Yum! Brands, Inc. announced definitive agreements to sell its Pizza Hut business for an aggregate of $2.7 billion. Pizza Hut, excluding Mainland China, will be acquired by LongRange Capital for $1.5 billion, while Pizza Hut in Mainland China will be acquired by Yum China Holdings, Inc. for $1.2 billion. The company expects to receive approximately $2.3 billion in net proceeds and has authorized an incremental $4 billion share repurchase program, positioning Yum! Brands for long-term growth and shareholder value creation.

Yum! Brands, Inc. announced that Tracy Skeans will transition from her roles as Chief Operating Officer and Chief People & Culture Officer, effective November 1, 2026. She will then serve as a Senior Advisor until her retirement on March 1, 2028. In connection with her transition, Ms. Skeans will receive her current base salary and remain bonus eligible through her retirement, along with a $500,000 lump sum payment post-retirement.

Yum Brands reported strong first-quarter 2026 results with total revenues increasing 15.2% to $2,059 million and Net Income surging 70.8% to $432 million. Diluted EPS also saw a significant rise of 72.2% to $1.55. The company declared a dividend of $0.75 per share and repurchased $185 million in common stock. Results were positively impacted by a $44 million credit card litigation settlement and favorable tax adjustments, partially offset by charges related to the Pizza Hut strategic options review.

Yum! Brands, Inc. reported solid first-quarter 2026 results, with EPS excluding special items increasing 15% year-over-year to $1.50. Worldwide system sales grew 6% excluding foreign currency translation, driven by strong performance at Taco Bell and KFC. The company achieved a record digital system sales mix of 63%, approaching $11 billion, and reiterated its long-term growth algorithm.