---
schema_version: "secwatch.filing_event.v1"
accession: "0001041061-23-000046"
form_type: "8-K"
ticker: "YUM"
cik: "0001041061"
company_name: "YUM BRANDS INC"
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T01:52:34.563132+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Yum! Brands Q3: 10% system sales growth, GAAP EPS $1.46, core operating profit up 16%

## Summary
- GAAP EPS $1.46 ($1.44 ex special items); 10% worldwide system sales growth (6% same-store, 6% unit growth).
- KFC system sales up 12% ex F/X; Taco Bell up 11%; Pizza Hut up 4%. 1,130 gross new units (Q3 record).
- Digital sales record $7B, digital mix over 45%. Net leverage ratio 4.4x; F/X hurt divisional operating profit $5M.
- CEO expects full-year 2023 to outperform long-term algorithm; plans to expand customer insights and global loyalty.
- KFC International and Taco Bell US lead; Pizza Hut US same-store sales flat, international same-store sales +2%.

## SEC filing metadata
- accession: 0001041061-23-000046
- form_type: 8-K
- ticker: YUM
- cik: 0001041061
- company_name: YUM BRANDS INC
- filed_at: 2023-11-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1041061/000104106123000046/0001041061-23-000046-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1041061/000104106123000046/yum-20231101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001041061-23-000046
- JSON: https://secwatch.observer/filing/0001041061-23-000046.json
- Plain text: https://secwatch.observer/filing/0001041061-23-000046.txt

## Key facts
- Earnings Releases
  YUM BRANDS INC reported the third quarter ended September 30, 2023 results: EPS $1.46.
  - Period: the third quarter ended September 30, 2023
  - EPS: $1.46
  - Result: reported results
  source text: Third-quarter GAAP EPS was $1.46 and third-quarter EPS excluding Special Items was $1.44. Third-quarter EPS includes a favorable $0.05 mark-to-market impact from the remeasurement of the Company's investment in Devyani International Ltd.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1041061/000104106123000046/0001041061-23-000046-index.htm

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