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- Earnings-quality Divergence: Net Income +128.1% Vs Operating Income +5.3% (worsened) — The net income surge is driven by a $359M deferred tax benefit from the Pizza Hut sale, not operational improvement.
- Taco Bell Lettuce Recall / Cyclospora Outbreak (new) — A multistate Cyclospora outbreak led to lettuce removal and a vendor recall, with expected near-term sales and margin pressure.
Yum Brands to sell Pizza Hut for ~$853.0M; Q2 net income jumps 128% on tax benefit
Filed August 5, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~1 min read
Key Changes
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Yum agreed to sell Pizza Hut in two deals for ~$2.3B net proceeds, with closing expected in August 2026.
MD&A: Pizza Hut divestiture verify on EDGAR → -
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Net income rose 128.1% to $853M, driven by a $359M deferred tax benefit from the Pizza Hut sale, not operations.
MD&A: Tax benefit verify on EDGAR → -
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Board authorized a new up to $4B share repurchase program through June 2028, funded by sale proceeds.
MD&A: Share repurchase authorization verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 1, 2026 · How we verify