Yum! raises eps on strong global portfolio
by Meat&Poultry Staff
LOUISVILLE — Yum! Brands Inc. has raised its 2011 full-year earnings-per-share growth forecast to at least 13 percent, or $2.85 per share on the common stock, excluding special items, up from previous guidance of 12 percent. The company also said it expects to deliver at least 12 percent eps growth in fiscal 2012.
“This has been a strong year led by our China and Yum! Restaurant International businesses, and I’m pleased to report we have raised our 2011 full-year eps growth forecast to at least 13 percent, despite our disappointing US results,” said David Novak, chairman and chief executive officer. “We are pleased our global portfolio is delivering another strong year of eps growth, with our leading position in emerging markets growing stronger.
“We are well positioned for another strong year in 2012 given our robust international new unit development, innovative marketing and operating plans, as well as the opportunity to dramatically improve US performance,” he added.
Looking ahead to 2012, Yum! expects to open about 1,500 new international units, including 600 in China, 800 at Yum! Restaurants International and 100 units in India.