In a press release dated May 4th Yum! Brands Inc. announced results for the 1st quarter and FY 2022 ending March 31st.
The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as US$ x 1,000 except EPS)
|
1st Quarter Ending March 31st
|
2022
|
2021
|
Difference (%)
|
|
Revenue:
|
$1,547,000
|
$1,486,000
|
+4.1
|
|
Gross profit company units:
|
$48,000
|
$84,000
|
-19.1
|
|
Operating income:
|
$509,000
|
$543,000
|
-6.3
|
|
Pre-tax Income
Net Income
|
$398,000
$399,000
|
$409,000
$326,000
|
-2.7
+22.4
|
|
Diluted earnings per share:
|
$1.38
|
$1.09
|
+26.6
|
|
Gross Margin company units (%)
|
14.5
|
17.7
|
-18.1
|
|
Operating Margin (%)
|
32.9
|
36.5
|
-9.8
|
|
Profit Margin (%)
|
25.8
|
21.9
|
+17.8
|
|
Long-term Debt and lease obligations:
|
$11,332,000
|
$11,178,000
|
+1.4
|
|
12 Months Trailing:
|
|
Return on Assets (%)
|
22.6
|
|
Return on Equity (%)
|
N/A
|
|
Operating Margin (%)
|
32.5
|
|
Profit Margin (%)
|
23.9
|
|
Total Assets
|
$5,816,000
|
$5,966,000
|
-2.5
|
|
Intraday Market Capitalization
|
$33,720,000
|
For Q1 2022:-
System wide: Sales +8.0%.
KFC Division: Sales $7,733 million; Operating margin 44.1%; Operating profit $291 million; 27,372 units. Same store sales growth: International, 4%; U.S. 1%.
Pizza Hut Division: Sales $3,160 million; Operating margin 42.1%; Operating profit $102 million; 18,518 units. Same store sales growth: International, 5%; U.S. (6)%.
Taco Bell Division: Sales $3,108 million; Operating margin 35.7%; Operating profit $185 million; 7,831 units. Same store sales growth: International, 37%; U.S. 7%.
52-Week Range in Share Price: $113.02 to $139.85 50-day Moving average $119.45
Market close pre-release May 3rd $115.00
Market open post-release May 4h $116.49
Forward P/E 23.8 Beta 1.1
In commenting on Q3 results, David Gibbs, CEO said “Our system sales grew 8% despite the difficult operating environment, a testament to the demand for our iconic brands and the unmatched operating capabilities of our world-class franchise partners. We set a Q1 development record, opening nearly 1,000 gross units. Momentum in our digital sales continued in the first quarter as a result of both continued system sales growth and digital mix expansion, reaching a Q1 record of approximately $6 billion.