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Yum Brands Inc (YUM) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

Yum Brands Inc

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CIK: 1041061 Ticker: YUM
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NEWS
Jodi Dyer
Vice President, Investor Relations
Yum! Brands Reports Fourth-Quarter Results; Industry Record Full-Year 3,057 Net-New Units;
Fourth-Quarter System Sales Growth of 9% with Over $6 Billion in Digital Sales;
Full-Year System Sales Growth of 13% and Record Digital Sales of $22 Billion


Louisville, KY (February 9, 2022)
 - Yum! Brands, Inc. (NYSE: YUM) today reported results for the fourth-quarter and year ended December 31, 2021. Fourth-quarter GAAP EPS was $1.11, an increase of 3%. Full-year GAAP EPS was $5.21, an increase of 77%. Fourth-quarter EPS excluding Special Items was $1.02, a decrease of (12)%. Full-year EPS excluding Special Items was $4.46, an increase of 23%.

DAVID GIBBS & CHRIS TURNER COMMENTS
David Gibbs, CEO, said “We opened an astounding 4,180 gross units in 2021, marking the strongest growth year in Yum!'s history and setting a restaurant industry record for unit development. We also reached new heights in digital sales that topped $22 billion. I’m confident and energized heading into 2022, which marks Yum!’s 25th anniversary, as we continue to build the world’s most loved and trusted brands while delivering lasting value for our stakeholders.”

Chris Turner, CFO, said “Our fiscal 2021 system sales growth of 13%, with 10% same store sales and 6% unit growth, illustrates the health of our global system – iconic Brands, capable, committed, and well-capitalized franchise partners and strong unit economics. During the quarter, system sales grew 9% including 5% same store sales growth, or 4% on a 2-year basis. We remain focused on fueling growth, with confidence in our Recipe for Growth and Good strategies, and delivering on our long-term growth algorithm in fiscal 2022 and beyond.”

SUMMARY FINANCIAL TABLE
Fourth-QuarterFull-Year
20212020% Change20212020% Change
GAAP EPS$1.11$1.08+3$5.21$2.94+77
Special Items EPS1
$0.09$(0.07)NM$0.75$(0.68)NM
EPS Excluding Special Items$1.02$1.15(12)$4.46$3.62+23

1 See reconciliation of Non-GAAP Measurements to GAAP Results within this release for further detail of 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 sales includes all transactions where consumers at system restaurants utilize ordering interaction that is primarily facilitated by automated technology.



Yum! Brands, Inc. • 1900 Colonel Sanders Lane • Louisville, KY 40213
Tel 502 874-8300 • investors.yum.com
The following information was filed by Yum Brands Inc (YUM) on Wednesday, February 9, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Yum Brands Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Statement Of Comprehensive Income
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Subsequent Events
Summary Of Significant Accounting Policies
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Supplemental Balance Sheet Information
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Supplemental Cash Flow Data (Notes)
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Ticker: YUM
CIK: 1041061
Form Type: 10-K Annual Report
Accession Number: 0001041061-22-000009
Submitted to the SEC: Tue Feb 22 2022 6:00:26 PM EST
Accepted by the SEC: Wed Feb 23 2022
Period: Friday, December 31, 2021
Industry: Retail Eating Places

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