Yum! Q3 adj. EPS $1.58 (+15% YoY); initiates strategic review of Pizza Hut, acquires 128 Taco Bell units

YUM BRANDS INC

Q3 GAAP EPS $1.41, adj. EPS $1.58 (+15% YoY); worldwide system sales +5% ex F/X led by Taco Bell +9%.
Taco Bell same-store sales +7%, KFC +3%, Pizza Hut -1%. KFC opened 760 units globally.
Yum! initiates formal strategic review of Pizza Hut to maximize value; Goldman Sachs and Barclays retained.
Leadership: Ranjith Roy promoted to CFO; Sean Tresvant named Taco Bell CEO; Jim Dausch to Chief Digital & Technology Officer.
Taco Bell subsidiary issued $1.5B securitization notes; Yum! to acquire 128 Taco Bell restaurants in SE US in Q4.

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