Yum! raises e.p.s. on strong global portfolio

by Eric Schroeder
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LOUISVILLE — Yum! Brands Inc. has raised its 2011 full-year earnings-per-share growth forecast to at least 13%, or $2.85 per share on the common stock, excluding special items, up from previous guidance of 12%. The company also said it expects to deliver at least 12% e.p.s. 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 e.p.s. growth forecast to at least 13%, despite our disappointing U.S. results,” said David C. Novak, chairman and chief executive officer. “We are pleased our global portfolio is delivering another strong year of e.p.s. 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 U.S. performance.”

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.

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