McDonald's tops estimates for quarterly profit, warns short-term inflation to persist [Globe and Mail, The (Toronto, Canada)]
McDonald's Corporation (MCD)
Last mcdonald's corporation earnings: 4/30 06:58 am
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Source: Globe and Mail, The
decrease on Tuesday beat Wall Street estimates for quarterly profit on higher menu prices, even as it warned short-term inflationary pressures would persist in 2023. Shares of the burger chain fell about 1 per cent to $268.50 in premarket trading after gaining about 6 per cent in the last 12 months. The company's fourth-quarter global same-store sales also beat estimates with a 12.6 per cent rise, compared with the average analyst estimate of an 8.6 per cent increase, according to IBES data from Refinitiv. McDonald's benefited from higher menu prices, increased restaurant traffic and sales in the UK, Germany and France rose despite fears of a recession in Europe. The earnings report comes as investors watch for signs of a recession after record inflation last year. McDonald's could benefit if more lower-income customers switch over from higher-priced restaurants – as it did in the third quarter. The company reported profit of $2.59 per share, an increase of 16 per cent. Ana
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MCD
Earnings
- 2/5/24 - Beat
MCD
Sec Filings
- 4/9/24 - Form PX14A6G
- 4/8/24 - Form DEFA14A
- 4/8/24 - Form ARS
- MCD's page on the SEC website