Yum Brands Inc (WBO:YUM)
€ 131.75 -0.25 (-0.19%) Market Cap: 36.71 Bil Enterprise Value: 46.82 Bil PE Ratio: 25.90 PB Ratio: 0 GF Score: 83/100
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Yum! Brands Inc at Sanford C Bernstein Strategic Decisions Conference Transcript

May 29, 2019 / 08:30PM GMT
Release Date Price: €89.21 (-0.79%)
Sara Harkavy Senatore
Sanford C. Bernstein & Co., LLC., Research Division - Senior Research Analyst

Hi. Good afternoon and thank you, everybody, for joining us. I'm Sara Senatore, Bernstein's restaurant analyst. And a special thank you to our guest today on the dais, Yum!'s President, CFO and COO, David Gibbs; and VP of IR and Strategy, did I get that, right? Okay. Keith -- we just talked about this, Keith Siegner, whom I know for years, so it's okay, that I -- I giggled a little there.

So I'm sure all of you are familiar with the brands in Yum!'s portfolio, but let me just start briefly with a description to provide a backdrop for today's discussion, and then I'll say a few words of introduction about David.

Yum! has over 48,000 restaurants in more than 145 countries. Through the 3 concepts of KFC, Pizza Hut and Taco Bell, the company develops, operates, franchises and licenses a worldwide system of restaurants, which sell a menu of competitively priced food items. Units are operated by each concept or by -- oh, fewer of those now but increasingly by independent franchisees or

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