Thursday confirmed fourth-quarter and full-year earnings guidance, while reporting a modest increase in November same-store sales.
The company -- which owns Pizza Hut, Taco Bell and KFC -- said November same-store sales rose 1%. Taco Bell sales rose 5% while KFC's fell 7%.
In addition, the company offered a wealth of guidance on future earnings
Yum! expects to earn 72 cents a share in the fourth quarter, with higher-than-expected international sales growth balancing lower-than-expected U.S. sales, in what it called a "very challenging" period. For 2004, the company expects 14% growth in EPS to $2.35, before items, or reported EPS of $2.38. The consensus estimates are 72 cents and $2.35, respectively, according to Thomson First Call.
The company also forecast EPS of 49 cents for the first quarter of 2005 and $2.59, or at least 10% growth, for all of 2005. Analysts expect 51 cents for the quarter and $2.62 for the year.
"Over the long term, we are confident we can continue to grow EPS at least 10% each year by executing our unique strategies and maintaining our financial focus and discipline," the company said in a statement.
The company will discuss business conditions at its annual investors and analysts conference in New York City today.
Shares closed at $46.95 yesterday.