Yum China Non-GAAP EPS of $0.25 beats by $0.09, revenue of $2.49B beats by $160M

Yum China Non-GAAP EPS of $0.25 beats by $0.09, revenue of $2.49B beats by $160M
Yum China press release (NYSE:YUMC): Q4 Non-GAAP EPS of $0.25 beats by $0.09. Revenue of $2.49B (+19.1% Y/Y) beats by $160M. Opened 542 net new stores in the fourth quarter. Total stores reached 14,644 as of December 31, 2023. KFC reached 10,296 stores and Pizza Hut reached 3,312 stores. Operating profit grew 170% to $110 million. Core operating profit grew 324%. Restaurant margin expanded to 10.7%. 2024 Outlook: Open approximately 1,500 to 1,700 net new stores. Make capital expenditures in the range of approximately $700 million to $850 million. From 2024 to 2026: Yum China targets to Reach a total store count of 20,000 by 2026. Achieve a high-single-to-double-digit CAGR for system sales and operating profit, and a double-digit CAGR for EPS, using 2023 as the base year excluding F/X. Return a minimum of $3 billion to shareholders through quarterly dividends and share repurchases. Shares +2.83%.

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