Filing Flows › Yum Brands (YUM) › Q1 2026
Yum Brands (YUM) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Yum Brands (YUM) reported revenue of $2.1B for the first quarter 2026 (Q1 2026), +15% from a year earlier and -18% from the quarter before. Operating margin was 31.3%, net earnings $432M (21.0% of revenue).
Yum Brands, Q1 2026: revenue $2.1B (+15% year over year), operating margin 31.3%, net earnings $432M, operating cash flow $416M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.1B | -18% | +15% |
| Operating profit | $644M | -13% | +18% |
| Net earnings | $432M | -19% | +71% |
| Operating cash flow | $416M | -33% | +3% |
| Free cash flow | $341M | -29% | +2% |
What changed
Revenue was $2.1B in Q1 2026, up 15% year over year and down 18% from the previous quarter. Franchise and property revenues was the largest line at 42% of revenue. Company Sales added $0.18B year over year (up 29%), 65% of the total change.
Operating profit was $0.64B, a 31.3% margin (up 0.6 points year over year). Of the extra revenue versus Q1 2025, 35% reached operating profit, above the 31% margin then. Total costs grew 14% against revenue growth of 15%. The fastest-growing cost line was Cost of revenue (+30%). Net earnings were $0.43B, up 71% year over year. The effective tax rate was 16.3%.
Operating cash flow was $0.42B (up 3% year over year), 96% of net earnings. Non-cash charges added back $0.06B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.10B. Capital expenditures of $0.07B left free cash flow of $0.34B.
Questions
What was Yum Brands' revenue in the first quarter 2026?
Yum Brands (YUM) reported revenue of $2.1B for the first quarter 2026 (Q1 2026), +15% from a year earlier and -18% from the quarter before.
Was Yum Brands profitable in the first quarter 2026?
Operating profit was $644M (31.3% of revenue) and net earnings $432M.
Source: Yum Brands 10-Q on SEC EDGAR.