Yum! Brands (NYSE: YUM) is up 0.5% into second quarter earnings after the close tonight. Analysts on average are looking for EPS of $0.63 on revenues of $3.19 billion, suggesting a drop of 13.7% and 0.3% respectively from last year.

The key for investors will be guidance and commentary on a recovery in China. Some see a potential Yum China split as a driver for future upside in the stock.