YUM! Brands (YUM $48.39 -1.05) reported third quarter earnings of $0.83 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.82.
Revenues rose 14.4% year/year to $3.27 billion versus the $3.09 billion consensus.
Yum! reconfirms full year EPS growth forecast of at least 12%, excluding special items.
The company stated "I'm pleased to report EPS growth of 13% in the third quarter, excluding special items. As a result of strong performance in China and other emerging markets, we confidently reaffirm our full-year EPS growth forecast of at least 12%, which will make 2011 the 10th consecutive year we exceed our annual target of at least 10% EPS growth. Our impressive international growth was offset by a 16% decline in U.S. profits..."






