Wednesday March 25, 2026, 07:00:00
YUM: Adjusting Our Estimates (3/25/2026)
This note is best read in conjunction with our note published this morning entitled “Updating our Q1 Kalinowski Quick-Service Other Same-Store Sales Index (3/25/2026).”
Wednesday February 4, 2026, 09:44:47
YUM (Post-Call): Another Solid Quarter to “Taco ‘Bout”
Earlier today (Wednesday), Yum Brands reported adjusted fourth-quarter EPS of $1.73. This was short of our $1.83 estimate and sell-side consensus (according to Consensus Metrix) of $1.76. However, the Q4 adjusted tax rate was 25.9%. This was unfavorable compared to our 22.5% forecast and consensus at 22.6%. We calculate that the higher-than-expected tax rate cost Yum Brands about -8 cents worth of Q4 EPS. In other words, adjusted EPS would have beat consensus by +5 cents once this factor is taken into account.
Tuesday December 16, 2025, 07:00:00
YUM: Did Pizza Hut Already Have a (De Facto) Strategic Review?
On November 4th, Pizza Hut parent company Yum Brands “announced the initiation of a formal review of strategic options for the Pizza Hut brand. The intent is for Pizza Hut to reach its full potential for the benefit of its franchisees, consumers, and employees and to maximize value for Yum! shareholders. The review will explore a range of strategic options while Pizza Hut continues to focus on near-term business imperatives…. Yum! Brands, Inc. has not set a deadline or definitive timetable for the completion of the strategic options review, and there can be no assurance this review will result in any specific outcome or transaction. The Company does not intend to comment or make further announcements unless it determines that further disclosure is appropriate or necessary.” For more info: