Yum! Brands (YUM) — capital discipline, read against the 10-Q

Yum! Brandsreason 02 of 4a reason to hold, not a barrierderived 2026-09-08accession 0001041061-26-000160

Net cash provided by operating activities was $923 million in 2026 versus $850 million in 2025

With the anticipated net proceeds from the Pizza Hut transactions, we expect to pay down the current drawings on the Revolving Facility and the majority of the remainder will be set aside for share repurchases

In June 2026, our Board of Directors authorized incremental share repurchases of up to $4 billion through June 30, 2028

We expect to maintain our consolidated net leverage ratio at approximately 4.0x EBITDA over the medium term

the finding

The filing now states definitive agreements to sell Pizza Hut have been signed, consistent with the anticipated proceeds referenced in the reason for owning.

before · MD&A · 2026-03-31 → 2026-06-30

“We currently intend to complete this strategic options review in 2026, and there can be no assurance this review will result in any specific outcome or transaction.”