Louisville, Ky.-based restaurant operator Yum! Brands (formally Tricon Global Restaurants) has said that strong international results and a solid brand portfolio performance in the US will drive better than expected Q2 results.
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Ongoing operating EPS for the Q2 is expected to be at the high end of the previously forecasted range of US$0.42 to US$0.44 (US$0.83 to US$0.87 prior to the recent 2-for-1 stock split).
Chairman and CEO, David C. Novak, said: “It is now likely that Q2 international results will exceed our earlier forecast, which complements the solid performance of our US portfolio of brands.”
CFO Dave Deno, added: “Global operating productivity trends are solid, and interest expense for the Q2 will be slightly favourable to forecast. In addition, the general strengthening of foreign currencies will enhance Q2 results.
“Last week, we completed a successful refinancing of our bank credit facility and a US$400m bond offering. We were very pleased with the rates and oversubscribed levels of the bank credit facility and the bond offering. This leaves us strongly positioned to drive our key strategies of international expansion and multibranding.”
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