When McDonald’s Corp. (NYSE: MCD | MCD Price Prediction) released its fourth-quarter financial results before the markets opened on Wednesday, the golden arches posted $1.97 in earnings per share (EPS) and $5.35 billion in revenue. Consensus estimates had called for $1.96 in EPS and $5.31 billion in revenue, and in the same period of last year, the fast-food giant said it had EPS of $1.97 in $5.16 billion in revenue.
Consolidated revenues increased 4% (increased 4% in constant currencies), reflecting strong comparable sales. Consolidated operating income increased by 15%.
During the quarter, global comparable sales increased 5.9%, reflecting strong comparable sales across all segments. At the same time, systemwide sales increased by 6% (7% in constant currencies).
In the United States, fourth-quarter comparable sales rose 5.1%. The International operating segment’s fourth-quarter comparable sales increased by 6.2%, and the International Developmental Licensed segment’s fourth-quarter comparable sales grew 6.6%.
Chris Kempczinski, McDonald’s president and CEO, commented:
2019 marked a year of significant milestones for McDonald’s – including surpassing $100 billion in Systemwide sales and achieving our highest global comparable sales growth in over a decade. Through the execution of our Velocity Growth Plan, we once again served more customers the food they crave, marking three consecutive years of global comparable guest count growth.
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McDonald’s stock closed Tuesday at $210.39 a share, within a 52-week range of $173.41 to $221.93. The consensus price target is $225.55. Following the announcement, the stock was down about 1% at $209.38 in early trading indications Wednesday.
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