Fast food giant, McDonald’s Corporation (MCD) reported Q1 earnings on Wednesday, which remained flat from last year, but missed analysts estimates.
The Oak Brook, Illinois based company reported first quarter earnings of $1.27 billion, or $1.26 per share, flat from last year’s earnings of $1.27 billion, or $1.23 per share. Analysts expected to see earnings of $1.27 per share.
Revenue for the quarter increased by 1% to $6.61 billion, from $6.55 billion last year. Analysts expected to see revenue of $6.59 billion.
Sales from the company’s operated restaurants were flat during the first quarter at $4.44 billion, while franchised restaurant revenue increase 2% to $2.16 billion. Global comparable sales declined -1% during the quarter.
In the U.S, same store sales dropped by -1.2%, compared with estimates of a -1.1% decline. European sales dropped -1.1%, worse than the 0.8% expected decline. For the Asia/Pacific, Middle East, and Afica region, sales declined by -3.3%, compared to the estimated -3.8% decline.
McDonald’s shares were down -$2.24, or -2.20% during Friday morning trading. The stock has increased 5% in the past year.
The Bottom Line
Shares of McDonald’s Corporation (MCD) have a 3.08% yield, based on Friday morning’s price of $99.97.
McDonald’s Corporation (MCD) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.