International Companies
Yum Brands beats forecasts as Taco Bell sales jump
By Benjamin Chiou
Date: Wednesday 29 Apr 2026
(Sharecast News) - Yum! Brands managed to top forecasts with its first-quarter results, with solid same-store sales growth at Taco Bell overshadowing an uncertain future for the Pizza Hut business.
The American fast-food conglomerate, whose three main brands are Taco Bell, KFC and Pizza Hut, reported worldwide systems sales (its share of sales from both company-owned and franchised stores) grew 6% when excluding FX movements during the first quarter. Excluding Pizza Hut, system sales growth would have been 7%.
Net sales were 15% higher than last year at $2.06bn, slightly ahead of the $2.04bn expected by the market.
Same-store sales were 3% higher than last year, with a 2% gain at KFC and 8% growth at Taco Bell offset a flat performance at the struggling Pizza Hut division.
The company did not give an update regarding Pizza Hut, which is undergoing a strategic review, though chief executive Chris Turner said "We delivered solid topline momentum to start the year, with our fundamentals as strong as ever.
"Taco Bell delivered an outstanding 8% same-store sales growth, meaningfully ahead of the QSR industry, building off a very strong Q1 same-store sales growth rate in 2025. KFC delivered impressive unit growth and resilient same-store growth, with many KFC markets growing system sales double-digits."
Earnings per share, excluding special items such as costs related to the Pizza Hut review, jumped 15% to $1.50, comfortably ahead of the $1.38 consensus forecast.
Looking forward, Turner added: "Yum! is incredibly well positioned to sustain sales momentum thanks to strong global consumer appeal for our brands, long-term consumption tailwinds, and our tech and AI capabilities".
Yum! shares were up 3.6% at $162.01 by 1438 BST.
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