Keith R. Siegner | Yum! Brands, Inc. |
Greg Creed | Yum! Brands, Inc. |
David W. Gibbs | Yum! Brands, Inc. |
Matthew Robert McGinley | Evercore ISI |
John Glass | Morgan Stanley & Co. LLC |
Dennis Geiger | UBS Securities LLC |
Chris O'Cull | Stifel, Nicolaus & Co., Inc. |
Jeff D. Farmer | Wells Fargo Securities LLC |
John William Ivankoe | JPMorgan Securities LLC |
Gregory R. Francfort | Bank of America Merrill Lynch |
Sara Harkavy Senatore | Sanford C. Bernstein & Co. LLC |
Andrew Charles | Cowen & Co. LLC |
David E. Tarantino | Robert W. Baird & Co., Inc. |
Good morning. My name is Shelby, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Yum! Brands Q1 2018 First Quarter Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session.