Yum! Brands Guidance

Yum! Brands Guidance

As of the Q1 2019 Earnings Call (5/1/2019)
2019
Global System Same-Store Sales Growth 2-3%
Global Net New Unit Growth ~4%
Global System Sales Growth Ex FX and 53rd Week Mid to High Single-Digit
   
Gross Capital Expenditures ~$225MM
Capital Expenditures net of refranchising proceeds ~$125MM
   
Operating Profit 2018 Base $2,296MM
Core Operating Profit 2018 Base $1,766MM
Operating Profit Growth with no forecasted impact of 2019 Special Items (a) Negative Teens
Overlap of 2018 Special Items +23ppts
Foreign Currency Impact (b) +1ppt
Impact of 53rd Week in 2019 (1ppt)
Year-to-Date Special Items through March 31, 2019 (< 1ppt)
Core Operating Profit Growth Ex FX and 53rd Week Low Double-Digits
   
2019 Diluted EPS with no forecasted impact of Special Items or Grubhub mark-to-market (c) At least $3.73
Foreign Currency Impact (d) $0.04
Impact of 53rd Week in 2019 $(0.06)
Year-to-Date Special Items through March 31, 2019 $(0.01)
Year-to-Date Grubhub mark-to-market through March 31, 2019 $0.05
2019 Adjusted EPS Target At least $3.75

 

(a) We are unable to forecast any impact of Special Items on Operating Profit.

(b) Core Operating Profit Growth is adjusted for estimated 2019 FX impact. This will be provided each quarter.

(c) We are unable to forecast any Special Items or Grubhub mark-to-market adjustments on EPS growth for the remainder of 2019 beyond amounts already recognized through March 31, 2019.

(d) EPS Foreign Currency Estimated Impact FX vs. 2016 rates. This will be provided each quarter.

Yum! Brands RSC, 1900 Colonel Sanders Lane, Louisville, KY 40213, 502.874.8300