Yum! Brands, Inc. (NYSE:YUM) Q3 2023 Earnings Call Transcript November 1, 2023 8:15 AM ET

Company Participants

Matt Morris - Head of Investor Relations

David Gibbs - CEO & Director

Christopher Turner - CFO

Dave Russell - SVP and Corporate Controller

Conference Call Participants

David Tarantino - Robert W. Baird & Co.

John Ivankoe - JPMorgan Chase & Co.

David Palmer - Evercore ISI

Andrew Charles - TD Cowen

Brian Mullan - Piper Sandler

Jon Tower - Citi

Dennis Geiger - UBS

Brian Harbour - Morgan Stanley

Operator

Hello all and welcome to Yum! Brands, Inc. Third Quarter 2023 Earnings Call. My name is Lydia and I'll be your operator today. [Operator Instructions]

I'll now hand you over to your host, Matt Morris, Head of Investor Relations. Please go ahead.

Matt Morris

Thanks, operator. Good morning, everyone, and thank you for joining us. On our call today are David Gibbs, our CEO; Chris Turner, our CFO; and Dave Russell, our Senior Vice President and Corporate Controller. Following remarks from David and Chris will open the call to questions.

Before we get started, please note that this call includes forward-looking statements that are subject to future events and uncertainties that could cause our actual results to differ materially on these statements. All forward-looking statements are made only as of the date of this call and should be considered in conjunction with the cautionary statements in our earnings release and the risk factors included in our filings with the SEC.

In addition, please refer to our earnings release and relevant sections of our filings with the SEC to find disclosures, definitions and reconciliations of non-GAAP financial measures and other metrics used on today's call. Please note that during today's call all system sales growth and operating profit growth results exclude the impact of foreign currency. For more information on our reporting calendar for each market, please visit the financial reports section of our website. We are broadcasting this conference call via our website. This call is also being recorded and will be available for playback. Looking ahead, our first quarter earnings will be released on February 7th with a conference call on the same day.

Now, I like to turn the call over to David Gibbs.

David Gibbs

Thank you, Matt, and good morning, everyone. Before I go over our third quarter results, I'd like to express our deep concern for those affected by the ongoing violence in Israel and Gaza. The safety of our people in the region is our utmost priority and in addition to staying in close contact with our local team members and franchisees, our franchise restaurants in the region are only open when it is safe for staff and customers. The Yum! is supporting affected employees and contributing to humanitarian organizations that are providing critical aid. Our heartfelt wishes for the safety and well-being of innocent civilians and families in the region impacted by this conflict.