McDonald’s Corporation (NYSE: MCD) topped market estimates on both revenue and earnings for the first quarter of 2019. Shares were up 1% in premarket hours on Tuesday.
Consolidated revenues fell 4% year-over-year to $4.96 billion, but came ahead of forecasts of $4.95 billion. Revenues increased 2% in constant currencies. The results reflected strong comparable sales, partly offset by the impact of the strategic refranchising initiative.
Reported net income fell 3% to $1.32 billion while EPS remained flat at $1.72, compared to the prior-year quarter. Adjusted EPS amounted to $1.78, topping estimates of $1.73.
Sales from company-operated restaurants fell 12% year-over-year to $2.2 billion while revenues from franchised restaurants grew 4% to $2.7 billion.
Global comparable sales grew 5.4%, reflecting strong comparable sales across all segments, and marking the company’s 15th consecutive quarter of positive global comparable sales. Systemwide sales rose 6% in constant currencies.
In the US, the success of promotions such as the Bacon Event, the 2 for $5 Mix and Match deal, and Donut Sticks, coupled with a positive impact from the Experience of the Future deployment, helped drive a 4.5% growth in comparable sales.
In the International Operated segment, comp sales rose 6%, reflecting positive results across all markets, driven mainly by the UK and France. In the International Developmental Licensed segment, comp sales increased 6%, reflecting positive sales performance across all geographic regions.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
Comments