Yum Brands Inc. (NYSE: YUM) maintained its full-year adjusted earnings forecast Friday, helped by strong performances from its Yum Restaurants International business and operations in China, according to Associated Press.
The restaurant operator, whose brands include Pizza Hut, Taco Bell and KFC, anticipates 12 percent growth in earnings per share for the year, excluding special items. It posted 2008 earnings of $1.96 per share, which would imply a 2009 profit of about $2.20 per share.
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Chairman and CEO David Novak said in a statement that the company's performance has benefited from favorable commodity costs, a lower tax rate and improved productivity.
Yum anticipates 10 percent growth in earnings per share for next year.
On average, analysts surveyed by Thomson Reuters forecast earnings per share of $2.16 per share for 2009 and $2.38 per share in 2010, implying year-over-year growth of 10 percent.
The company has more than 36,000 restaurants in more than 110 countries and territories.
In afternoon morning trading, Yum shares fell $1.04, or 3 percent, to $34.09.
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