Yum! Brands reports Q4 EPS $1.31, consensus $1.26

Reports Q4 worldwide system sales grew 8% excluding foreign currency translation, with KFC at 6%, Taco Bell at 14%, and Pizza Hut at 4%. revenue $, consensus $. Reports 4Q worldwide SSS up 6%. Reports Yum Brands Q4 worldwide systems sales ex-forex up 8%.David Gibbs, CEO, said "2022 was a landmark year for Yum! as we beat our own industry record for unit development, opening an incredible 4,560 gross new units. Despite a challenging environment, we achieved widespread system sales growth of 8% excluding Russia with $24 billion in digital sales, demonstrating that our iconic brands are more relevant, easy and distinctive than ever. I’m confident that our distinct competitive advantages including our world-class franchisees and the industry’s best talent will drive accelerated growth in the future." Chris Turner, CFO, said "Our fiscal 2022 results delivered on our raised long-term growth algorithm with record-setting net new unit growth and 4% same-store sales growth. Despite inflationary pressures and a 2-point negative impact from Russia, we delivered 6% Core Operating Profit growth – a testament to the strength of our enterprise. We remain focused on executing the strategies underlying our Recipe for Good Growth to drive our business forward. I’m also pleased to announce our Board of Directors approved an increased quarterly dividend of $0.605."