Latest News by Industry
![YUM BRANDS INC [YUM] reports annual net loss of $1.6 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FYUM.png&w=1200&q=75)
YUM BRANDS INC [YUM] has reported a net loss of $1.6 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $7.1 billion
Based in LOUISVILLE, Kentucky, YUM BRANDS INC operates in the RETAIL sector.
Total revenues for the 12 months ended December 31, 2023, amounted to $7,076 million, showing an increase compared to $6,842 million in the same period in 2022 and $6,584 million in 2021.
Costs and expenses, net, including company restaurant expenses, general and administrative expenses, franchise and property expenses, franchise advertising, and other services expenses, refranchising gain/loss, and other income or expenses, totaled $4,758 million for the current period. This marks a rise from $4,655 million in 2022 and $4,445 million in 2021.
Operating profit for the period was $2,318 million, up from $2,187 million in 2022 and $2,139 million in 2021.
The net income for the period was $1,597 million in 2023, an increase from $1,325 million in 2022 and $1,575 million in 2021.
Basic earnings per common share were $5.68 for the current reporting period, up compared to $4.63 in 2022 and $5.30 in 2021. Diluted earnings per common share were $5.59 for 2023, higher than $4.57 in 2022 and $5.21 in 2021.
This year's revenue from contracts with customers, excluding assessed tax, stood at $2,142 million, higher than $2,072 million in 2022 and $2,106 million in 2021. The revenue from franchise and property services was $3,247 million, compared to $3,096 million in 2022 and $2,900 million in 2021. The revenue from franchise contributions for advertising and other services was $1,687 million for 2023, more significant than $1,674 million in 2022 and $1,578 million in 2021.
Also Read: