Yum China reported robust financial results for Q3 2024, with total revenues increasing 5% to $3.07 billion and net income rising 22% to $297 million compared to Q3 2023. Operating profit grew 15% to $371 million, driven by net new unit contribution of 7%, operational efficiency improvements, and lower costs. The company achieved diluted earnings per share of $0.77, up 33% year-over-year.The company continued its aggressive expansion, growing its restaurant network to 15,861 stores across approximately 2,200 cities in China as of September 30, 2024. KFC remained the largest segment with 11,283 stores, while Pizza Hut operated 3,606 locations. During the quarter, same-store sales declined 3% due to lower ticket average, though this was offset by strong new store performance.Looking ahead, Yum China announced plans to increase capital returns to shareholders from $3 billion to $4.5 billion between 2024 and 2026, representing a 50% increase. The Board declared a quarterly dividend of $0.16 per share and authorized an additional $1 billion for share repurchases, bringing the total authorization to $4.4 billion. The company expects capital expenditures of $700-850 million for fiscal year 2024.

Yum China reported robust financial results for Q3 2024, with total revenues increasing 5% to $3.07 billion and net income rising 22% to $297 million compared to Q3 2023. Operating profit grew 15% to $371 million, driven by net new unit contribution of 7%, operational efficiency improvements, and lower costs. The company achieved diluted earnings per share of $0.77, up 33% year-over-year.The company continued its aggressive expansion, growing its restaurant network to 15,861 stores across approximately 2,200 cities in China as of September 30, 2024. KFC remained the largest segment with 11,283 stores, while Pizza Hut operated 3,606 locations. During the quarter, same-store sales declined 3% due to lower ticket average, though this was offset by strong new store performance.Looking ahead, Yum China announced plans to increase capital returns to shareholders from $3 billion to $4.5 billion between 2024 and 2026, representing a 50% increase. The Board declared a quarterly dividend of $0.16 per share and authorized an additional $1 billion for share repurchases, bringing the total authorization to $4.4 billion. The company expects capital expenditures of $700-850 million for fiscal year 2024.