YUM added 4,754 gross new units, resulting in net new unit growth of 3,349 units, demonstrating continued expansion. The majority of new units were in international markets, particularly for the KFC division.

The company continues to invest in digital and technology initiatives to improve customer experience and drive sales growth, with digital sales representing over 45% of overall system sales.

The company continues to execute strategic refranchising and acquisitions, including the sale of the KFC business in Russia and the acquisition of 218 KFC restaurants in the UK and Ireland, to optimize its portfolio and drive long-term growth.

Management has focused on operational efficiency and cost management, as evidenced by the increase in core operating profit. However, these efforts were partially offset by higher labor costs and commodity inflation.

The company continues to implement its Good agenda, which includes priorities for social responsibility, risk management, and sustainable stewardship of people, food and planet.

Management emphasizes maintaining strong and open relationships with franchisees and their representatives, investing time and resources to support their success.

The company acknowledges the risk of food safety issues and catastrophic events, including public health conditions, which could adversely impact business operations and growth prospects.

The company's growth strategy is heavily reliant on the success of its franchisees, and it has limited control over their operations, which could impact operating results.

The company faces increased cybersecurity risks, including ransomware attacks, which could lead to financial losses, reputational harm, and regulatory penalties. Additionally, failure to comply with data privacy laws could result in penalties.

The company operates in a highly competitive retail food industry, facing competition from international, national, and regional chains, as well as locally-owned establishments.

The company faces increasing competition from delivery aggregators and convergence in grocery, convenience, deli, and restaurant services, impacting its ability to maintain market share.

The company's success depends on its ability to maintain and enhance its brand reputation and value, which can be affected by various factors, including consumer perceptions, food safety, and business practices.

The company has experienced and may continue to experience supply chain disruptions and increased costs for food, equipment, and other supplies, which could impact profitability.

The company and its franchisees have experienced labor shortages and increased labor costs, which could impact operations and profitability.

The company is investing in technology to improve restaurant operations and drive efficiency, including digital ordering and payment platforms and data analytics capabilities.

The company is making significant investments in digital and technology platforms to enhance customer experience, improve restaurant operations, and drive sales growth.

The company is leveraging data analytics to gain insights into customer behavior and preferences, which is expected to drive more informed decision-making and improve business results.

The company acknowledges the risks associated with technology implementation, including potential disruptions, failures, and the need for ongoing investment, which could impact operations and financial results.

The company is focused on maximizing shareholder returns through a combination of dividend payments and share repurchases, reflecting its commitment to returning excess cash to investors.

The company is strategically investing in growth initiatives, including new unit development, digital and technology platforms, and strategic acquisitions.

The company is targeting a consolidated net leverage ratio that balances shareholder returns, cost of capital, and flexibility against various risk factors.

The company's Good agenda reflects its commitment to social responsibility, risk management, and sustainable stewardship of its people, food, and planet.

The company is focused on building an inclusive culture among its employees, franchisees, suppliers, and partners to reflect the diversity of its customers and communities.

The company acknowledges increasing scrutiny and evolving expectations related to social and environmental sustainability matters, which could result in increased expenses and management focus.

The company is sensitive to macroeconomic conditions and consumer discretionary spending levels, which could impact its business and growth prospects.

The company has been and may continue to be adversely impacted by inflationary pressures and elevated interest rates, which could impact margins and profitability.

The company is exposed to geopolitical risks and instability, which could disrupt its operations and supply chain, particularly in international markets.