Filing Flows › Yum Brands (YUM) › Q3 2026 › vs Q2 2026
Yum Brands (YUM) Q3 2026 vs Q2 2026 (quarter over quarter)
Yum Brands's revenue fell $115M (-5%) from $2.2B in Q2 2026 to $2.1B in Q3 2026. The biggest changes: Taco Bell Global Division −$83.0M (-10%); Pizza Hut Global Division −$52.0M (-20%); KFC Global Division +$24.0M (+3%). Operating margin 112.8% against 30.2% (+82.6 pts).
Yum Brands, Q3 2026: revenue $2.1B (+4% year over year), operating margin 112.8%, net earnings $1.6B, operating cash flow $475M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 112.8% | 30.2% | +82.6 pts |
| Net margin | 79.0% | 39.3% | +39.7 pts |
| Free cash flow margin | 18.9% | 18.8% | +0.1 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| KFC Global Division | $948M | $924M | $24.0M | +3% |
| Taco Bell Global Division | $770M | $853M | −$83.0M | -10% |
| Pizza Hut Global Division | $202M | $254M | −$52.0M | -20% |
| The Habit Burger Grill Global Division | $134M | $139M | −$5.0M | -4% |
| Revenue | $2.1B | $2.2B | −$115M | -5% |
| Operating profit | $2.3B | $655M | $1.7B | +254% |
| Pre-tax earnings | $2.2B | $533M | $1.7B | +312% |
| Other expense, net | $122M | $122M | $0 | 0% |
| Net earnings | $1.6B | $853M | $770M | +90% |
| Income tax | $572M | −$320M | $892M | — |
| Depreciation & amortization | $57.0M | $60.0M | −$3.0M | -5% |
| Share-based compensation | $16.0M | $11.0M | $5.0M | +45% |
| Working capital & other | $1.2B | $417M | $804M | +193% |
| Operating cash flow | $475M | $507M | −$32.0M | -6% |
| Free cash flow (OCF − capex) | $388M | $407M | −$19.0M | -5% |
| Capital expenditures | $87.0M | $100M | −$13.0M | -13% |
Questions
How much did Yum Brands's revenue grow quarter over quarter in Q3 2026?
Yum Brands's revenue fell $115M (-5%) from $2.2B in Q2 2026 to $2.1B in Q3 2026.
What drove Yum Brands's revenue change in Q3 2026?
Taco Bell Global Division −$83.0M (-10%); Pizza Hut Global Division −$52.0M (-20%); KFC Global Division +$24.0M (+3%).