---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-049931"
form_type: "8-K"
ticker: "YUMC"
cik: "0001673358"
company_name: "Yum China Holdings, Inc."
filed_at: "2024-04-29T23:59:59+00:00"
generated_at: "2026-06-03T05:37:44.478189+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Yum China Q1 revenues hit all-time high $2.96B; diluted EPS up 10% ex-FX; record 378 net new stores

## Summary
- Total revenues $2.96B (+1% reported, +7% ex-FX); system sales +6% ex-FX on 8% net new unit contribution.
- Diluted EPS $0.71 (+4% reported, +10% ex-FX); core operating profit $396M (+1% YoY).
- Opened 378 net new stores (record); total store count >15,000 (10,603 KFC, 3,425 Pizza Hut).
- Restaurant margin fell to 17.6% (down 1.7ppts) on value offerings and wage inflation, partly offset by G&A savings.
- Record quarterly shareholder return of $745M via $681M buybacks and $0.16/sh dividend; FY2024 targets unchanged.

## SEC filing metadata
- accession: 0000950170-24-049931
- form_type: 8-K
- ticker: YUMC
- cik: 0001673358
- company_name: Yum China Holdings, Inc.
- filed_at: 2024-04-29T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1673358/000095017024049931/0000950170-24-049931-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1673358/000095017024049931/yumc-20240429.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-049931
- JSON: https://secwatch.observer/filing/0000950170-24-049931.json
- Plain text: https://secwatch.observer/filing/0000950170-24-049931.txt

## Key facts
- Earnings Releases
  Yum China Holdings, Inc. reported financial results for the first quarter ended March 31, 2024.
  - Period: the first quarter ended March 31, 2024
  - Result: reported results
  source text: On April 29, 2024, Yum China Holdings, Inc. issued a press release announcing its unaudited results for the first quarter ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1673358/000095017024049931/0000950170-24-049931-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.