Subtext

Yum! Brands, Inc. YUM

SectorConsumer Discretionary
Transcripts76
Date range2006-02-09 – 2025-04-30
Calls charted75

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-30-15+0+15+302005 Q42008 Q32011 Q32014 Q12016 Q32019 Q12021 Q32024 Q12005 Q4 · Overall: +15.02006 Q1 · Overall: +18.42006 Q2 · Overall: +19.22006 Q3 · Overall: +14.02006 Q4 · Overall: +13.42007 Q1 · Overall: +13.92007 Q3 · Overall: +15.02007 Q4 · Overall: +15.82008 Q1 · Overall: +15.32008 Q2 · Overall: +11.82008 Q3 · Overall: +6.32008 Q4 · Overall: +8.52009 Q1 · Overall: +11.72009 Q2 · Overall: +9.42009 Q3 · Overall: +9.72009 Q4 · Overall: +8.62010 Q1 · Overall: +12.62010 Q3 · Overall: +15.22011 Q1 · Overall: +11.02011 Q2 · Overall: +11.52011 Q3 · Overall: +11.72011 Q4 · Overall: +11.52012 Q1 · Overall: +15.12012 Q2 · Overall: +13.62012 Q3 · Overall: +12.32013 Q1 · Overall: +6.02013 Q2 · Overall: +8.12013 Q3 · Overall: +7.42013 Q4 · Overall: +9.82014 Q1 · Overall: +14.92014 Q2 · Overall: +21.52014 Q3 · Overall: +8.42014 Q4 · Overall: +13.62015 Q1 · Overall: +16.92015 Q2 · Overall: +14.12015 Q3 · Overall: +0.92015 Q4 · Overall: +14.82016 Q1 · Overall: +14.82016 Q2 · Overall: +15.22016 Q3 · Overall: +9.92016 Q4 · Overall: +12.92017 Q1 · Overall: +18.62017 Q2 · Overall: +15.02017 Q3 · Overall: +20.72017 Q4 · Overall: +20.22018 Q1 · Overall: +16.82018 Q2 · Overall: +17.12018 Q3 · Overall: +19.32018 Q4 · Overall: +23.82019 Q1 · Overall: +22.72019 Q2 · Overall: +20.82019 Q3 · Overall: +16.52019 Q4 · Overall: +13.82020 Q1 · Overall: -1.22020 Q2 · Overall: +5.32020 Q3 · Overall: +6.92020 Q4 · Overall: +9.02021 Q1 · Overall: +18.62021 Q2 · Overall: +18.22021 Q3 · Overall: +13.02021 Q4 · Overall: +18.32022 Q1 · Overall: +12.32022 Q2 · Overall: +13.92022 Q3 · Overall: +16.92022 Q4 · Overall: +12.72023 Q1 · Overall: +23.02023 Q2 · Overall: +24.22023 Q3 · Overall: +22.72023 Q4 · Overall: +21.22024 Q1 · Overall: +1.42024 Q2 · Overall: +24.12024 Q3 · Overall: +18.92024 Q4 · Overall: +22.52025 Q1 · Overall: +25.7
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-55-27+0+27+552005 Q42008 Q32011 Q32014 Q12016 Q32019 Q12021 Q32024 Q12005 Q4 · CEO: +47.62006 Q1 · CEO: +29.42006 Q2 · CEO: +29.82006 Q3 · CEO: +17.72006 Q4 · CEO: +21.22007 Q1 · CEO: +23.92007 Q3 · CEO: +24.82007 Q4 · CEO: +25.22008 Q1 · CEO: +29.02008 Q2 · CEO: +21.52008 Q3 · CEO: +14.92008 Q4 · CEO: +14.72009 Q1 · CEO: +23.52009 Q2 · CEO: +17.12009 Q3 · CEO: +20.52009 Q4 · CEO: +9.72010 Q1 · CEO: +16.42010 Q3 · CEO: +22.82011 Q1 · CEO: +20.12011 Q2 · CEO: +27.22011 Q3 · CEO: +29.72012 Q1 · CEO: +27.02012 Q2 · CEO: +30.02012 Q3 · CEO: +21.82013 Q1 · CEO: +15.52013 Q2 · CEO: +13.42013 Q3 · CEO: +18.72013 Q4 · CEO: +19.02014 Q1 · CEO: +20.12014 Q2 · CEO: +26.62014 Q3 · CEO: +14.72014 Q4 · CEO: +19.02015 Q1 · CEO: +23.92015 Q2 · CEO: +31.52015 Q3 · CEO: +9.02015 Q4 · CEO: +24.42016 Q1 · CEO: +21.62016 Q2 · CEO: +24.32016 Q3 · CEO: +18.92016 Q4 · CEO: +22.52017 Q1 · CEO: +30.02017 Q2 · CEO: +26.12017 Q3 · CEO: +31.62017 Q4 · CEO: +29.32018 Q1 · CEO: +32.92018 Q2 · CEO: +24.62018 Q3 · CEO: +35.02018 Q4 · CEO: +37.22019 Q1 · CEO: +38.82019 Q2 · CEO: +28.52019 Q3 · CEO: +26.22019 Q4 · CEO: +26.12020 Q1 · CEO: +6.32020 Q2 · CEO: +5.02020 Q3 · CEO: +12.32020 Q4 · CEO: +14.82021 Q1 · CEO: +28.52021 Q2 · CEO: +27.12021 Q3 · CEO: +18.82021 Q4 · CEO: +24.42022 Q1 · CEO: +17.12022 Q2 · CEO: +20.22022 Q3 · CEO: +31.12022 Q4 · CEO: +21.82023 Q1 · CEO: +35.82023 Q2 · CEO: +30.62023 Q3 · CEO: +26.82023 Q4 · CEO: +30.52024 Q1 · CEO: +2.62024 Q2 · CEO: +35.22024 Q3 · CEO: +28.12024 Q4 · CEO: +29.92025 Q1 · CEO: +30.02005 Q4 · CFO: +25.72006 Q1 · CFO: +15.92006 Q2 · CFO: +22.42006 Q3 · CFO: +20.12006 Q4 · CFO: +12.92007 Q1 · CFO: +13.32007 Q3 · CFO: +18.12007 Q4 · CFO: +10.72008 Q1 · CFO: +10.62008 Q2 · CFO: +12.92008 Q3 · CFO: +6.52008 Q4 · CFO: +13.72009 Q1 · CFO: +3.62009 Q2 · CFO: +12.42009 Q3 · CFO: +9.72009 Q4 · CFO: +15.52010 Q1 · CFO: +17.22010 Q3 · CFO: +17.52011 Q1 · CFO: +9.72011 Q2 · CFO: +11.72011 Q3 · CFO: +9.02012 Q1 · CFO: +15.32012 Q2 · CFO: +14.02012 Q3 · CFO: +18.62013 Q1 · CFO: +3.12013 Q2 · CFO: +7.72013 Q3 · CFO: +7.22013 Q4 · CFO: +10.92014 Q1 · CFO: +15.92014 Q2 · CFO: +21.72014 Q3 · CFO: +6.42014 Q4 · CFO: +18.22015 Q1 · CFO: +23.92015 Q2 · CFO: +13.52015 Q3 · CFO: +0.92015 Q4 · CFO: +20.72016 Q2 · CFO: +13.72016 Q3 · CFO: +15.12016 Q4 · CFO: +19.12017 Q1 · CFO: +19.62017 Q2 · CFO: +14.92017 Q3 · CFO: +16.32017 Q4 · CFO: +21.32018 Q1 · CFO: +13.72018 Q2 · CFO: +17.82018 Q3 · CFO: +15.02019 Q3 · CFO: +14.62019 Q4 · CFO: +9.92020 Q1 · CFO: -5.62020 Q2 · CFO: +11.42020 Q3 · CFO: +5.42020 Q4 · CFO: +9.12021 Q1 · CFO: +10.82021 Q2 · CFO: +18.52021 Q3 · CFO: +18.12021 Q4 · CFO: +27.22022 Q1 · CFO: +15.02022 Q2 · CFO: +19.02022 Q3 · CFO: +13.82022 Q4 · CFO: +11.42023 Q1 · CFO: +24.52023 Q2 · CFO: +26.62023 Q3 · CFO: +28.02023 Q4 · CFO: +19.02024 Q1 · CFO: +20.72024 Q2 · CFO: +21.72024 Q3 · CFO: +16.32024 Q4 · CFO: +21.52025 Q1 · CFO: +27.0
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-40-20+0+20+402005 Q42008 Q32011 Q32014 Q12016 Q32019 Q12021 Q32024 Q12005 Q4 · Prepared remarks: +27.82006 Q1 · Prepared remarks: +26.52006 Q2 · Prepared remarks: +29.92006 Q3 · Prepared remarks: +18.92006 Q4 · Prepared remarks: +23.72007 Q1 · Prepared remarks: +22.62007 Q3 · Prepared remarks: +28.62007 Q4 · Prepared remarks: +25.52008 Q1 · Prepared remarks: +27.12008 Q2 · Prepared remarks: +23.62008 Q3 · Prepared remarks: +10.72008 Q4 · Prepared remarks: +15.92009 Q1 · Prepared remarks: +16.82009 Q2 · Prepared remarks: +17.12009 Q3 · Prepared remarks: +16.92009 Q4 · Prepared remarks: +17.92010 Q1 · Prepared remarks: +21.82010 Q3 · Prepared remarks: +24.32011 Q1 · Prepared remarks: +19.82011 Q2 · Prepared remarks: +23.02011 Q3 · Prepared remarks: +18.42011 Q4 · Prepared remarks: +16.12012 Q1 · Prepared remarks: +28.22012 Q2 · Prepared remarks: +25.02012 Q3 · Prepared remarks: +25.72013 Q1 · Prepared remarks: +11.92013 Q2 · Prepared remarks: +12.42013 Q3 · Prepared remarks: +13.32013 Q4 · Prepared remarks: +19.02014 Q1 · Prepared remarks: +20.82014 Q2 · Prepared remarks: +28.92014 Q3 · Prepared remarks: +13.32014 Q4 · Prepared remarks: +22.32015 Q1 · Prepared remarks: +27.72015 Q2 · Prepared remarks: +25.72015 Q3 · Prepared remarks: +7.32015 Q4 · Prepared remarks: +24.92016 Q1 · Prepared remarks: +24.32016 Q2 · Prepared remarks: +22.62016 Q3 · Prepared remarks: +19.72016 Q4 · Prepared remarks: +20.32017 Q1 · Prepared remarks: +26.02017 Q2 · Prepared remarks: +22.32017 Q3 · Prepared remarks: +28.32017 Q4 · Prepared remarks: +34.92018 Q1 · Prepared remarks: +28.02018 Q2 · Prepared remarks: +19.22018 Q3 · Prepared remarks: +23.92018 Q4 · Prepared remarks: +29.42019 Q1 · Prepared remarks: +27.12019 Q2 · Prepared remarks: +29.92019 Q3 · Prepared remarks: +24.32019 Q4 · Prepared remarks: +23.12020 Q1 · Prepared remarks: -1.02020 Q2 · Prepared remarks: +4.22020 Q3 · Prepared remarks: +9.52020 Q4 · Prepared remarks: +10.72021 Q1 · Prepared remarks: +14.12021 Q2 · Prepared remarks: +23.32021 Q3 · Prepared remarks: +20.42021 Q4 · Prepared remarks: +25.52022 Q1 · Prepared remarks: +16.82022 Q2 · Prepared remarks: +20.42022 Q3 · Prepared remarks: +22.02022 Q4 · Prepared remarks: +13.42023 Q1 · Prepared remarks: +28.92023 Q2 · Prepared remarks: +32.72023 Q3 · Prepared remarks: +30.92023 Q4 · Prepared remarks: +23.32024 Q1 · Prepared remarks: +11.72024 Q2 · Prepared remarks: +27.12024 Q3 · Prepared remarks: +26.52024 Q4 · Prepared remarks: +29.62025 Q1 · Prepared remarks: +32.52005 Q4 · Q&A responses: +6.72006 Q1 · Q&A responses: +17.32006 Q2 · Q&A responses: +18.12006 Q3 · Q&A responses: +9.92006 Q4 · Q&A responses: +11.02007 Q1 · Q&A responses: +13.82007 Q3 · Q&A responses: +12.62007 Q4 · Q&A responses: +8.92008 Q1 · Q&A responses: +11.72008 Q2 · Q&A responses: +5.42008 Q3 · Q&A responses: +9.12008 Q4 · Q&A responses: +11.32009 Q1 · Q&A responses: +14.42009 Q2 · Q&A responses: +11.32009 Q3 · Q&A responses: +9.32009 Q4 · Q&A responses: +8.42010 Q1 · Q&A responses: +13.22010 Q3 · Q&A responses: +13.02011 Q1 · Q&A responses: +11.32011 Q2 · Q&A responses: +13.92011 Q3 · Q&A responses: +13.92011 Q4 · Q&A responses: +18.22012 Q1 · Q&A responses: +12.32012 Q2 · Q&A responses: +9.52012 Q3 · Q&A responses: +9.92013 Q1 · Q&A responses: +9.12013 Q2 · Q&A responses: +9.62013 Q3 · Q&A responses: +10.52013 Q4 · Q&A responses: +5.52014 Q1 · Q&A responses: +14.62014 Q2 · Q&A responses: +18.22014 Q3 · Q&A responses: +9.12014 Q4 · Q&A responses: +13.82015 Q1 · Q&A responses: +19.72015 Q2 · Q&A responses: +15.62015 Q3 · Q&A responses: +4.12015 Q4 · Q&A responses: +19.42016 Q1 · Q&A responses: +14.52016 Q2 · Q&A responses: +19.12016 Q3 · Q&A responses: +10.62016 Q4 · Q&A responses: +16.62017 Q1 · Q&A responses: +21.52017 Q2 · Q&A responses: +14.62017 Q3 · Q&A responses: +25.82017 Q4 · Q&A responses: +10.62018 Q1 · Q&A responses: +13.72018 Q2 · Q&A responses: +20.82018 Q3 · Q&A responses: +22.52018 Q4 · Q&A responses: +18.02019 Q1 · Q&A responses: +26.12019 Q2 · Q&A responses: +17.12019 Q3 · Q&A responses: +14.82019 Q4 · Q&A responses: +10.52020 Q1 · Q&A responses: +1.82020 Q2 · Q&A responses: +11.52020 Q3 · Q&A responses: +9.12020 Q4 · Q&A responses: +12.32021 Q1 · Q&A responses: +30.62021 Q2 · Q&A responses: +20.72021 Q3 · Q&A responses: +8.62021 Q4 · Q&A responses: +10.02022 Q1 · Q&A responses: +10.72022 Q2 · Q&A responses: +9.72022 Q3 · Q&A responses: +18.32022 Q4 · Q&A responses: +17.82023 Q1 · Q&A responses: +24.62023 Q2 · Q&A responses: +18.32023 Q3 · Q&A responses: +18.92023 Q4 · Q&A responses: +26.62024 Q1 · Q&A responses: +5.02024 Q2 · Q&A responses: +27.52024 Q3 · Q&A responses: +11.62024 Q4 · Q&A responses: +17.32025 Q1 · Q&A responses: +17.6
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$2.50$4.45$6.402005 Q42008 Q32011 Q32014 Q12016 Q32019 Q12021 Q32024 Q12014 Q1: $3.772014 Q2: $3.962014 Q3: $3.792014 Q4: $3.592015 Q1: $3.602015 Q2: $3.772015 Q3: $3.942015 Q4: $3.582016 Q1: $3.652016 Q2: $3.912016 Q3: $4.062016 Q4: $2.772017 Q1: $2.822017 Q2: $2.962017 Q3: $3.092017 Q4: $3.182018 Q1: $3.422018 Q2: $3.622018 Q3: $3.732018 Q4: $3.802019 Q1: $3.922019 Q2: $4.032019 Q3: $4.162019 Q4: $4.152020 Q1: $4.042020 Q2: $3.362020 Q3: $3.732020 Q4: $4.002021 Q1: $4.132021 Q2: $4.462021 Q3: $4.862021 Q4: $4.952022 Q1: $5.052022 Q2: $5.052022 Q3: $5.092022 Q4: $5.142023 Q1: $5.352023 Q2: $5.522023 Q3: $5.762023 Q4: $5.832024 Q1: $5.972024 Q2: $6.022024 Q3: $6.13

Forward P/E

14.0421.3028.562005 Q42008 Q32011 Q32014 Q12016 Q32019 Q12021 Q32024 Q12014 Q1: 19.712014 Q2: 20.152014 Q3: 19.132014 Q4: 19.672015 Q1: 21.912015 Q2: 24.222015 Q3: 21.082015 Q4: 20.542016 Q1: 21.522016 Q2: 21.182016 Q3: 21.422016 Q4: 23.062017 Q1: 22.642017 Q2: 24.722017 Q3: 24.982017 Q4: 25.852018 Q1: 24.062018 Q2: 22.782018 Q3: 23.712018 Q4: 23.722019 Q1: 25.182019 Q2: 27.162019 Q3: 27.562019 Q4: 23.792020 Q1: 15.042020 Q2: 27.162020 Q3: 25.442020 Q4: 26.852021 Q1: 26.882021 Q2: 26.492021 Q3: 26.442021 Q4: 26.752022 Q1: 23.662022 Q2: 22.162022 Q3: 22.572022 Q4: 25.532023 Q1: 23.752023 Q2: 24.702023 Q3: 22.412023 Q4: 22.462024 Q1: 23.192024 Q2: 22.502024 Q3: 21.31

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q4 tone ↑ +5.2 fwd EPS ↓ -0.20 Tone rose while the forward EPS estimate was cut.
  • 2015 Q2 tone ↓ -2.8 fwd EPS ↑ +0.17 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q3 tone ↓ -13.2 fwd EPS ↑ +0.17 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q4 tone ↑ +14.0 fwd EPS ↓ -0.36 Tone rose while the forward EPS estimate was cut.
  • 2016 Q3 tone ↓ -5.3 fwd EPS ↑ +0.15 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q4 tone ↑ +3.0 fwd EPS ↓ -1.29 Tone rose while the forward EPS estimate was cut.
  • 2017 Q2 tone ↓ -3.6 fwd EPS ↑ +0.13 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q1 tone ↓ -3.4 fwd EPS ↑ +0.24 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q3 tone ↓ -4.3 fwd EPS ↑ +0.13 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +6.5 fwd EPS ↓ -0.68 Tone rose while the forward EPS estimate was cut.
  • 2021 Q3 tone ↓ -5.3 fwd EPS ↑ +0.40 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↓ -6.0 fwd EPS ↑ +0.10 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q4 tone ↓ -4.1 fwd EPS ↑ +0.05 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q1 tone ↓ -19.8 fwd EPS ↑ +0.14 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q3 tone ↓ -5.2 fwd EPS ↑ +0.11 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-30+25.7——View →
2024 Q42025-02-06+22.5——View →
2024 Q32024-11-05+18.9$6.1321.3View →
2024 Q22024-08-06+24.1$6.0222.5View →
2024 Q12024-05-01+1.4$5.9723.2View →
2023 Q42024-02-07+21.2$5.8322.5View →
2023 Q32023-11-01+22.7$5.7622.4View →
2023 Q22023-08-02+24.2$5.5224.7View →