McDonald's sales, profit top estimates as inflation persists [Reuters]
McDonald's Corporation (MCD)
Last mcdonald's corporation earnings: 4/30 06:58 am
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Source: Reuters
Shares of the burger chain fell about 2.6% to $263.84 in U.S. trading, after gaining about 6% in the last 12 months. Investors are watching bellwethers like McDonald's for any signs its customers are paring back spending. Consumer demand is key to determining whether the Federal Reserve's monetary tightening will help cool the U.S. economy without causing a recession. "Overall, the consumer, whether it's in Europe or the U.S., is actually holding up better than... what I would have expected a year ago or 6 months ago," Chief Executive Officer Chris Kempczinski said during a call with investors. Even so, he said the Big Mac maker still expects a mild to moderate U.S. recession this year, with a deeper, longer recession in Europe. Profit margins at company-operated restaurants were about 15% in the quarter because of higher labor, energy and commodity costs. The company said that full year 2023 company-operated margins will come in slightly lower than that. McDonald's is also
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MCD
News
- Starbucks, Chipotle, McDonald's: Who's raising prices in California to pay higher wages [Los Angeles Times (CA)]Los Angeles Times
- 25% Food & Dining Inflation Indicates Recession [Forbes]Forbes
- Dine Brands wants to diversify franchising [Yahoo! Finance]Yahoo! Finance
- McDonald's (MCD) Rises Higher Than Market: Key Facts [Yahoo! Finance]Yahoo! Finance
- McDonald's Co. (NYSE: MCD) had its "outperform" rating re-affirmed by analysts at Evercore ISI. They now have a $330.00 price target on the stock.MarketBeat
MCD
Earnings
- 2/5/24 - Beat
MCD
Sec Filings
- 3/22/24 - Form 144
- 3/22/24 - Form 4
- 3/20/24 - Form PRE
- MCD's page on the SEC website