Exhibit 99.1

Yum China Reports Second Quarter 2019 Results

 

Total revenues grew 3% or 10% in constant currency;

Total system sales grew 10% and same-store sales grew 4% in constant currency

 

Shanghai, China (July 30, 2019) – Yum China Holdings, Inc. (the "Company" or "Yum China") (NYSE: YUMC) today reported unaudited results for the second quarter ended June 30, 2019. Reported GAAP results include Special Items, which are excluded from adjusted measures.  Special Items are not allocated to any segment and therefore only impact reported GAAP results of Yum China.  See “Reconciliation of Reported GAAP Results to Adjusted Measures” within this release.

 

Second Quarter Highlights

 

Total revenues increased 3% year over year to $2.12 billion from $2.07 billion (10% year over year increase excluding foreign currency translation (“F/X”)).

 

 

Total system sales grew 10% year over year, with growth of 12% at KFC and 4% at Pizza Hut, excluding F/X.

 

Same-store sales grew 4% year over year, with a 5% increase at KFC and a 1% increase at Pizza Hut, excluding F/X.

 

Restaurant margin was 14.7%, as compared with 15.1% in the prior year period.

 

Operating Profit increased 6% year over year to $204 million from $193 million (14% year over year increase excluding F/X).

 

Effective tax rate was 20.0%.

 

Net Income increased 24% to $178 million from $143 million in the prior year period, primarily due to the increase in operating profit and mark to market gain from our equity investment in Meituan Dianping.

 

 

Diluted EPS increased 28% to $0.46 from $0.36 in the prior year period (14% year over year increase excluding the $0.04 per share mark to market gain from our equity investment in Meituan Dianping).

 

Opened 178 new restaurants during the quarter, bringing total store count to 8,751 across more than 1,300 cities.

 

Key Financial Results

Second Quarter 2019

 

 

 

Year to Date Ended 6/30/2019

 

 

 

% Change

 

 

 

% Change

 

 

 

System Sales

 

 

Same-Store Sales

 

 

Net New Units

 

 

Operating Profit

 

 

 

System Sales

 

 

Same-Store Sales

 

 

Net New Units

 

 

Operating Profit

 

 

Yum China

 

+10

 

 

 

+4

 

 

 

+7

 

 

 

+6

 

 

 

 

+10

 

 

 

+4

 

 

 

+7

 

 

 

(14

)

 

   KFC

 

+12

 

 

 

+5

 

 

 

+8

 

 

 

+3

 

 

 

 

+12

 

 

 

+5

 

 

 

+8

 

 

 

(1

)

 

   Pizza Hut

 

+4

 

 

 

+1

 

 

 

+2

 

 

 

+50

 

 

 

 

+3

 

 

 

+1

 

 

 

+2

 

 

 

+49

 

 

 

 

Second Quarter

 

 

 

 

Year to Date Ended 6/30

 

 

(in US$ million, except

 

 

 

 

 

 

 

 

 

 

% Change

 

 

 

 

 

 

 

 

 

 

 

 

 

% Change

 

 

per share data and percentages)

 

2019

 

 

 

2018

 

 

Reported

 

 

Ex     F/X

 

 

 

 

2019

 

 

 

2018

 

 

Reported

 

 

Ex    F/X

 

 

Operating Profit

$

 

204

 

 

$

 

193

 

 

 

+6

 

 

 

+14

 

 

 

$

 

507

 

 

$

 

588

 

 

 

(14

)

 

 

(8

)

 

Adjusted Operating Profit1

$

 

204

 

 

$

 

193

 

 

 

+6

 

 

 

+14

 

 

 

$

 

507

 

 

$

 

490

 

 

 

+4

 

 

 

+11

 

 

Net Income

$

 

178

 

 

$

 

143

 

 

 

+24

 

 

+33

 

 

 

$

 

400

 

 

$

 

431

 

 

 

(7

)

 

 

(1

)

 

Adjusted Net Income1

$

 

178

 

 

$

 

143

 

 

 

+24

 

 

 

+33

 

 

 

$

 

408

 

 

$

 

357

 

 

 

+14

 

 

 

+22

 

 

Basic Earnings Per Common Share

$

 

0.47

 

 

$

 

0.37

 

 

 

+27

 

 

+35

 

 

 

$

 

1.06

 

 

$

 

1.12

 

 

 

(5

)

 

 

+1

 

 

Adjusted Basic Earnings Per

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Common Share1

$

 

0.47

 

 

$

 

0.37

 

 

 

+27

 

 

 

+35

 

 

 

$

 

1.08

 

 

$

 

0.93

 

 

 

+16

 

 

 

+24

 

 

Diluted Earnings Per Common Share

$

 

0.46

 

 

$

 

0.36

 

 

 

+28

 

 

+36

 

 

 

$

 

1.03

 

 

$

 

1.08

 

 

 

(5

)

 

 

+2

 

 

Adjusted Diluted Earnings Per

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Common Share1

$

 

0.46

 

 

$

 

0.36

 

 

 

+28

 

 

 

+36

 

 

 

$

 

1.05

 

 

$

 

0.89

 

 

 

+18

 

 

 

+26

 

 

1 See “Reconciliation of Reported GAAP Results to Adjusted Measures” included in the accompanying tables of this release for further details.

Yum China Holdings, Inc. •  Shanghai, China •  Website http://ir.yumchina.com

 


The following information was filed by Yum China Holdings, Inc. (YUMC) on Tuesday, July 30, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Yum China Holdings, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Yum China Holdings, Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account