Yum! Brands Q1 GAAP EPS $1.36, system sales +8%; record 997 gross unit openings

YUM BRANDS INC

2022-Q1 EPS reported $1.36 revenue$1,547,000,000

GAAP EPS $1.36, +27% YoY; adjusted EPS $1.05, -1% YoY.
Worldwide system sales +8% ex-FX (KFC +9%, Taco Bell +8%, Pizza Hut +3%); same-store sales +3%.
Opened 997 gross units (628 net new) led by KFC (587) and Pizza Hut (334).
Digital sales ~$6B (+15% YoY), digital mix >40%. Repurchased 3.4M shares for ~$407M.
Post-Q1: issued $1.0B 5.375% notes due 2032 to repay $600M 7.75% notes due 2025.

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