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Yum!(YUM) - 2025 Q1 - Quarterly Results
YUMYum!(YUM)2025-04-30 11:01

Financial Performance - Yum! Brands reported first-quarter GAAP EPS of $0.90, with EPS excluding Special Items at $1.30, reflecting a 13% increase year-over-year [2]. - Total revenues for Q1 2025 reached $1,787 million, a 12% increase from $1,598 million in Q1 2024 [29]. - Company sales increased by 28% to $607 million in Q1 2025, compared to $474 million in Q1 2024 [29]. - Net income for Q1 2025 was $253 million, down 19% from $314 million in Q1 2024 [29]. - Operating profit for the company was $548 million, a 5% increase from $520 million in Q1 2024 [29]. - Core Operating Profit grew by 8%, with GAAP Operating Profit increasing by 5% [3]. - Core Operating Profit rose to $586 million, reflecting a 7.7% increase from $544 million in the prior year [51]. - Diluted EPS excluding Special Items was $1.30, compared to $1.15 for the same quarter last year, marking a 13.0% increase [54]. - Total revenues for Q1 2025 reached $1,787 million, a 11.8% increase from $1,598 million in Q1 2024 [57]. - Operating profit for Q1 2025 was $548 million, compared to $520 million in Q1 2024, reflecting a 5.4% increase [57]. Division Performance - Taco Bell U.S. achieved 9% same-store sales growth, while KFC International reported 7% unit growth year-over-year [3]. - KFC division reported a 22% increase in total revenues to $773 million, up from $632 million in Q1 2024 [32]. - Taco Bell division achieved total revenues of $657 million, a 10% increase from $598 million in Q1 2024 [35]. - Pizza Hut division's total revenues decreased by 3% to $231 million, down from $238 million in Q1 2024 [38]. - Taco Bell Division system sales reached $3.98 billion, an 11% increase, with same-store sales growth of 9% [13]. - KFC Division opened 528 gross new restaurants across 52 countries, with system sales of $8.34 billion, a 3% increase [10]. - Pizza Hut Division experienced a 4% decline in system sales to $3.03 billion, with same-store sales down by 2% [14]. Expenses and Costs - Company restaurant expenses totaled $520 million in Q1 2025, up from $400 million in Q1 2024, indicating a 30% increase [57]. - General and administrative expenses were $302 million in Q1 2025, compared to $286 million in Q1 2024, a 5.6% increase [57]. - Franchise advertising and other services expense amounted to $396 million in Q1 2025, up from $367 million in Q1 2024, a 7.9% increase [57]. - Total costs and expenses for Q1 2025 were $1,239 million, an increase from $1,078 million in Q1 2024, reflecting a 14.9% rise [57]. Cash Flow and Assets - Net Cash Provided by Operating Activities increased to $404 million, up 11.3% from $363 million year-over-year [43]. - Total assets as of March 31, 2025, were $6,659 million, a slight decrease from $6,727 million at the end of 2024 [41]. - Long-term debt remained stable at $11,327 million as of March 31, 2025, compared to $11,306 million at the end of 2024 [41]. Strategic Initiatives - The company announced a collaboration with NVIDIA to integrate AI technologies into its restaurants globally [9]. - The company aims to accelerate growth through resource reallocation and optimization strategies [64]. - The company recorded charges of $17 million in Q1 2025 related to a resource optimization program aimed at enhancing digital and technology capabilities [64]. - Approximately $7 million in charges were recorded in Q1 2025 for relocating brand headquarters to improve collaboration [64]. Shareholder Returns - The company declared a dividend of $0.71 per common share, up from $0.67 in the previous year [29].