McDonald’s Corp. (NYSE: MCD) released its most recent quarterly results before the markets opened on Tuesday. The golden arches said that it had $1.73 in earnings per share (EPS) and $6.05 billion in revenue, which compares with consensus estimates from Thomson Reuters of $1.62 in EPS and revenue of $5.96 billion. The second quarter of last year reportedly had EPS of $1.45 and $6.26 billion in revenue.
Global comparable sales increased 6.6%, reflecting positive guest counts in all segments. In the United States, comparable sales increased by 3.9%, while the International Lead segment comparable sales grew 6.3%. The High Growth segment comparable sales increased 7.0%, and the Foundational Markets & Corporate segment comparable sales grew 13.0%.
Systemwide sales increased 8% in constant currencies, due to strong comparable sales performance and restaurant expansion.
During the second quarter, McDonald’s also returned $1.8 billion to shareholders through share repurchases and dividends.
Steve Easterbrook, McDonald’s president and CEO, commented:
We’re building a better McDonald’s and more customers are noticing. Our relentless commitment to running great restaurants and keeping the customer at the center of everything we do is generating broad-based strength and momentum across our entire business. For the quarter, we delivered our strongest global comparable sales and guest count results in more than five years. We’re now introducing our Velocity Growth Plan accelerators in more restaurants around the world, bringing meaningful benefits to more customers through digital, delivery and our Experience of the Future.
Shares of McDonald’s traded up 4.4% to $158.51 just after Tuesday’s open. The consensus analyst price target was $162.58, and a 52-week range now is $110.33 to $159.62.
Credit card companies are handing out rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
