Yum! Brands Inc. has increased its full year 2011 EPS growth forecast to at least 13 percent, or $2.85 a share, excluding special items.
The previous guidance was at least 12 percent.
Yum! also has announced that it expects to deliver at least 10 percent EPS growth in 2012, excluding special items, which would mark its 11th straight year of meeting or exceeding this annual EPS growth target.
The upgrades are a result of the company's strong growth in China and Yum! Restaurant International markets. David C. Novak, chairman and CEO, said the new forecast is despite a disappointing year for domestic sales.
"We are pleased our global portfolio is delivering another strong year of EPS growth, with our leading position in emerging markets growing stronger," he said. "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."
Also for 2012, the company plans to have 1,500 new international units in its portfolio, including 600 in China, 800 at YRI and 100 units in India.
The annual investor meeting theme is "On the Ground Floor of Global Growth...China and a Whole Lot More." It will be held Dec. 7.
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