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McDonald’s earnings beat estimates as chain’s value push pays off
- On Wednesday, McDonald's reported fourth-quarter revenue rose 10% to $7.01 billion, beating Wall Street analysts' forecast of $6.84 billion, with adjusted earnings per share of $3.12.
- Price cuts and promotions prompted McDonald's September price cuts on U.S. combo meals, layered Extra Value Meal promotions, Snack Wraps returned for $2.99, and Monopoly and Grinch tie-ins after declines from households earning $45,000 or less.
- Profitability improved as net income increased 7% to $2.16 billion, while U.S. comparable sales rose 6.8% in the quarter.
- Shares reacted after hours when CEO Chris Kempczinski added that executives will discuss pilot results on the earnings call later in the evening, following the results.
- A beverage pilot in Wisconsin suggests McDonald's could boost sales with cold coffees, crafted sodas, and energy drinks; BTIG analysts say a national rollout could lift same-store sales, amid Taco Bell's 7% quarterly increase.
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7 Articles
Coverage Details
Total News Sources7
Leaning Left2Leaning Right0Center5Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
L 29%
C 71%
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