Earnings call: Yum! Brands reports growth despite global pressures

Yum! Brands (NYSE: YUM) reported a modest 3% profit growth in Q3 2024, led by Taco Bell U.S. and KFC International. Taco Bell saw a 4% increase in same-store sales, while KFC grew units by 9% in 64 countries. Pizza Hut faced a 1% sales decline due to competition. The company anticipates Q4 profit growth in the mid-to-high single digits, driven by ongoing digital initiatives and Taco Bell's competitive positioning. Despite regional challenges, Yum! Brands continues expanding globally, opening 4,500 new restaurants and promoting digital innovations. Financial stability is indicated by a net leverage ratio of 4.1x and no debt maturities until 2026. Key upcoming events include Taco Bell Consumer Day on January 28, 2024, and Q4 earnings release on February 5, 2024.