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Yum! Brands (YUM) Earnings Report: Q3 Conference Call Transcript


The following Yum! Brands (YUM - Get Report) conference call took place on October 7, 2015, 09:15 AM ET. This is a transcript of that earnings call:

Company Participants

  • Steve Schmitt; Yum! Brands, Inc.; VP of IR & Corporate Strategy
  • Greg Creed; Yum! Brands, Inc.; CEO
  • Pat Grismer; Yum! Brands, Inc.; CFO

Other Participants

  • David Palmer; RBC Capital Markets; Analyst
  • Karen Holthouse; Goldman Sachs; Analyst
  • Diane Geissler; CLSA Limited; Analyst
  • Sara Senatore; Bernstein; Analyst
  • Brian Bittner; Oppenheimer & Co.; Analyst
  • Jason West; Credit Suisse; Analyst
  • Keith Siegner; UBS; Analyst
  • John Glass; Morgan Stanley; Analyst
  • Paul Westra; Stifel Nicolaus; Analyst
  • David Tarantino; Robert W. Baird & Company, Inc.; Analyst
  • Joseph Buckley; Bank of America Merrill Lynch; Analyst
  • Karen Short; Deutsche Bank; Analyst
  • Andrew Charles; Cowen and Company; Analyst
  • Jeffrey Bernstein; Barclays Capital; Analyst
  • Howard Penney; Hedgeye Risk Management; Analyst
  • John Ivankoe; JPMorgan; Analyst
  • R.J. Hottovy; Morningstar; Analyst

MANAGEMENT DISCUSSION SECTION Operator: At this time, I would like to welcome everyone to the Yum! Brands third-quarter 2015 earnings conference call.


(Operator Instructions) Thank you. Mr. Steve Schmitt, Vice President of Investor Relations and Corporate Strategy, you may begin your conference. Steve Schmitt (VP of IR & Corporate Strategy): Thanks. Good morning, everyone. Thank you for joining us. On our call today are Greg Creed, our CEO; and...