McDonald’s Beats on EPS, Revenue (12-Year Chart Included)
Business Insider — McDonald’s reported fourth-quarter earnings on Monday, beating expectations across the board.
Adjusted earnings per share for the quarter came in at $1.44, slightly higher than analysts’ expectations of $1.41 a share. Additionally, revenue was just ahead of expectations at $6.03 billion against projections of $6.00 billion.
Sales crushed expectations with a 2.7% gain year-over-year for same-store sales, much higher than the expectations of 1.4% growth.
Sales in the US, however, slid by 1.3%. The company said this was due to “challenging comparison against the prior year launch of the very successful All-Day Breakfast.”
The company also warned that the first quarter of 2017 may face similar challenges because it is being compared with a strong quarter in 2016 that the company said “benefited from leap year, favorable weather, and continued momentum from All-Day Breakfast in the US.”
“Our efforts yielded a more streamlined and focused organization that generated solid fourth quarter and full-year results, including our strongest annual global comparable sales growth since 2011 along with record franchisee cash flows in many of our major markets,” CEO Steve Easterbrook said in a statement accompanying earnings. “I am confident that we’re on the right path as we pursue our goal of being recognized by our customers as the modern, progressive burger company.”
$MCD 12-Year Chart: