AirNet Technology raises $180 million in digital assets offering
Investing.com -- Yum! Brands, Inc. reported second-quarter earnings that fell short of Wall Street expectations, with adjusted earnings per share of $1.44 missing analyst estimates of $1.46. Revenue came in at $1.93 billion, slightly below the consensus forecast of $1.94 billion.
The company's shares fell 1.9% in premarket trading following the announcement.
The parent company of KFC, Taco Bell, and Pizza Hut posted a 7% increase in adjusted EPS compared to the same period last year, while worldwide system sales grew 4% excluding foreign currency translation. Taco Bell led the company's performance with 6% system sales growth and 4% same-store sales growth, outpacing the broader fast-food category in the U.S.
"Our second-quarter results are a testament to the power of our bold food innovation, digital transformation, and the strength of our iconic brands," said David Gibbs, CEO of Yum! Brands. "Taco Bell U.S. meaningfully outpaced the category with 4% same-store sales growth, and KFC International opened 565 gross new units."
KFC's international business showed strength with 7% system sales growth and 3% same-store sales growth, while its U.S. operations struggled with an 8% decline in system sales and a 5% drop in same-store sales. Pizza Hut continued to face challenges, with overall system sales declining 1% and same-store sales also down 1%.
The company reported robust digital performance, with system sales exceeding $9 billion and a record digital sales mix of approximately 57%. Yum! opened 871 gross new restaurants during the quarter, increasing its global unit count by 3% YoY.
The earnings report comes as Yum! prepares for a leadership transition, with CFO Chris Turner set to succeed David Gibbs as CEO effective October 1, 2025.