YU
YUM
YUM Yum! Brands (YUM) Q2 FY26 earnings call
Yum! Brands delivered solid Q2 FY26 results, driven by strong performance in KFC and Taco Bell, excluding the divested Pizza Hut. The company is navigating a temporary food safety issue impacting Taco Bell U.S. sales, but is seeing early signs of recovery. Strategic priorities focus on consumer engagement, unit economics, and digital capabilities, reinforced by the Pizza Hut divestiture.
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YUM operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|---|
| New restaurants opened Pizza Hut | 512At Pizza Hut, the team opened 512 units in Q4 and 1,280 for the year, driven by expansion in China, India, Saudi Arabia and Canada.Source: earnings call transcript | 198Pizza Hut delivered solid development with 198 new units across 34 markets, while Taco Bell added 24 gross units.Source: earnings call transcript | 254At Pizza Hut, we opened 254 gross new units across 32 countries with growth led by China, the US and India.Source: earnings call transcript | 289At Pizza Hut, we built 289 gross units this quarter.Source: earnings call transcript | 440+Pizza Hut globally opened over 440 gross units in Q4 and nearly 1,200 gross units in 2025 across 65 countries, representing the fifth highest gross new builds in 7 decades and a sign of brand health and strong franchise partners.Source: earnings call transcript | — | — | — |
| New stores opened | — | 751Our development engine remains healthy with 751 new stores opened in Q1, roughly in line with Q1 last year across 68 countries.Source: earnings call transcript | 871delivered 386 net new units, including 871 gross openings, reflecting the enduring appeal of our brands and the strength of our diversified system.Source: earnings call transcript | 1,131we opened 1,131 gross new units globally, a Q3 record with KFC opening 760 units or a store every 3 hours.Source: earnings call transcript | 1,800+We opened over 1,800 new units in Q4 and over 4,550 new units for the year.Source: earnings call transcript | 130We opened 130 new stores in the quarter.Source: earnings call transcript | 720opened 720 stores in the quarter.Source: earnings call transcript | +453.8% |
| New stores opened KFC | — | 528KFC led the way with 528 openings, the second highest for a first quarter in their history, driven by growth in China, India, Japan and Thailand.Source: earnings call transcript | 566At KFC, we opened 566 gross new units across 58 countries, fueled by China, India and Japan.Source: earnings call transcript | 760we opened 1,131 gross new units globally, a Q3 record with KFC opening 760 units or a store every 3 hours.Source: earnings call transcript | 1,100+KFC led unit growth with over 1,100 units opened in Q4 and nearly 3,000 units opened in the year.Source: earnings call transcript | 648KFC opened 648 new stores, driven by a strong start in China and development across 45 countries.Source: earnings call transcript | 660KFC delivered 660 gross new stores across 55 markets in Q2.Source: earnings call transcript | +1.9% |
| New stores opened Taco Bell | — | 24Pizza Hut delivered solid development with 198 new units across 34 markets, while Taco Bell added 24 gross units.Source: earnings call transcript | 50Taco Bell delivered a notable acceleration this quarter, opening 50 gross new restaurants or twice the number in Q1.Source: earnings call transcript | 74At Taco Bell, development accelerated this quarter with 74 gross unit openings, well above Q3 levels of last year.Source: earnings call transcript | — | 30The brand opened 30 gross units in the first quarter, including 14 in the US and 16 internationally.Source: earnings call transcript | — | — |
| New stores opened Taco Bell International | — | — | 1818 of those openings were in international markets across 9 countries.Source: earnings call transcript | 27Taco Bell International continued to build momentum, adding 27 gross new units and successfully launching 2 new markets, Greece and Ireland.Source: earnings call transcript | — | 16The brand opened 30 gross units in the first quarter, including 14 in the US and 16 internationally.Source: earnings call transcript | — | — |
| New stores opened Taco Bell US | — | — | — | — | — | 14The brand opened 30 gross units in the first quarter, including 14 in the US and 16 internationally.Source: earnings call transcript | 25The brand opened 25 gross units in the US during the quarter.Source: earnings call transcript | +78.6% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.