Nov 3, 8:07 AM ET
Yum! Brands reported third-quarter 2026 GAAP EPS of $5.92 and EPS excluding Special Items of $1.56, benefiting from a pre-tax gain of approximately $1.7 billion on the completed divestiture of Pizza Hut. Worldwide system sales grew 3% while core operating profit declined 4% for the quarter. The company returned $1.8 billion to shareholders year-to-date through dividends and share repurchases.
- Third-quarter 2026 GAAP EPS was $5.92 and EPS excluding Special Items was $1.56.
- The company completed the sales of the Pizza Hut brand in mainland China to Yum China and outside mainland China to LongRange Capital, generating a pre-tax gain of approximately $1.7 billion.
- KFC division unit count increased 7% with 955 gross new units opened in the quarter.
- Yum! returned $1.8 billion to shareholders through dividends and share repurchases year-to-date through September 30, 2026.
Read the filing on SEC.gov ↗
Sep 1, 4:39 PM ET
Yum! Brands completed the sale of its global Pizza Hut business, excluding mainland China, to Toppings TopCo, LLC (identified in the press release as LongRange Capital) on September 1, 2026, for $1,488,000,000 in cash, subject to adjustments. Pizza Hut China was sold separately to Yum China Holdings, Inc., which closed on August 7, 2026, bringing the two transactions to $2.7 billion in aggregate. Pizza Hut CEO Aaron Powell resigned from all Company positions effective the same day.
- Pizza Hut ex-China sold for approximately $1.5 billion in cash, plus a possible earn-out of $75 million by 2030 tied to future performance
- Pizza Hut China sale to Yum China Holdings, Inc. closed August 7, 2026; combined sale value $2.7 billion
- Aaron Powell resigned as Pizza Hut CEO and from all other Company positions effective September 1, 2026
- Chris Turner, Chief Executive Officer of Yum! Brands, describes the company as now more focused
Read the filing on SEC.gov ↗
Aug 21, 10:19 AM ET
Yum! Brands appointed Steve Bratspies to its Board of Directors on August 20, 2026, with his appointment effective August 26, 2026. He will stand for election at the next Annual Meeting and has not yet been assigned to a Board committee.
- Board appointment effective August 26, 2026; he will stand for election at the next Annual Meeting
- One-time stock grant with a fair market value of $25,000 on August 27, 2026, plus a prorated annual stock retainer
- No committee assignment as of the filing date
- No arrangement or understanding with any other person tied to his selection
Read the filing on SEC.gov ↗
Aug 7, 6:15 AM ET
Yum! Brands completed the sale of the Pizza Hut business in Mainland China to Yum China for $1.2 billion in cash on August 7, 2026. The companion license agreement removes Pizza Hut royalties and adds Yum China incentives tied to KFC sales growth, and a related sale of Pizza Hut outside Mainland China to LongRange Capital is still on track to close this month.
- Yum China paid $1.2 billion in cash for the rights to the Pizza Hut business in the PRC, completed August 7, 2026.
- The amended and restated master license agreement removes all Pizza Hut royalty references in the PRC and provides Yum China incentives based on KFC system sales growth targets over the next 12 years.
- Yum China executed a guaranty of its subsidiary's obligations under the agreement, including payment obligations.
- Sale of Pizza Hut excluding Mainland China to LongRange Capital remains on track to close this month, subject to regulatory approvals; the two agreements total $2.7 billion in aggregate, subject to purchase price adjustments.
Read the filing on SEC.gov ↗
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