Episode Details

In this episode, Susie and Miro dissect a truly bipolar quarter for Yum! Brands. On the surface, the earnings beat looks healthy, but under the hood, it is a tale of two very different companies living under one roof.

Taco Bell is firing on all cylinders with 7% growth and margins so "obscene" that corporate is draining its cash pile to buy the restaurants back. Meanwhile, Pizza Hut is shrinking, with negative sales and 250 U.S. stores slated for closure as management kicks off a "strategic review." 🌮📉

We also dig into the geopolitical shocker that wiped over 500 locations off the map overnight: the termination of the massive master franchise agreement in Turkey. We explore the shift from "asset-light" to what Miro calls "asset-right," questioning why Yum is spending nearly $700M to become a restaurant operator again.

Is this "Portfolio Darwinism," or is the safety net gone? Tune in for the unfiltered breakdown. 🎧