The_King Posted October 22, 2019 Share Posted October 22, 2019 (edited) McDonald’s (MCD) missed expectations on the top and bottom lines. Softer than expected U.S. comp sales during its third quarter sent shares tumbling nearly 4% in pre-market trade. Here’s were the numbers for McDonald’s third quarter, compared to Bloomberg-compiled estimates: Revenue: $5.43 billion vs. $5.49 billion expected Earnings per share: $2.11 vs. $2.21 expected U.S. same-store sales: +4.8% vs. +5.2% expected International same-store sales: +5.9% vs. +5.7% expected Despite missing expectations for domestic same-store sales growth, McDonald’s notched better-than-expected same-store sales growth abroad. “Our third quarter performance was strong, and broad-based momentum continued with our 17th consecutive quarter of global comparable sales growth," McDonald's CEO Steve Easterbrook said in a statement. "Globally, our customers are rewarding our commitment of running better restaurants and executing our Velocity Growth Plan by visiting more often." McDonald’s announced new partnerships with third-party aggregators during its third quarter. About 8,000 McDonald’s stores will use both DoorDash and Uber Eats (UBER). McDonald’s will have third-party delivery in 10,000 of its 14,000 U.S. stores. After the recent plant-based meat hype in the U.S. following Beyond Meat’s (BYND) explosive IPO in early May, McDonald’s announced that it would be testing out Beyond Meat burgers in 28 Canadian stores in September. McDonald’s has been aggressively investing in technology to advance its business this year. In March, the burger giant bought Dynamic Yield for $300 million, its biggest acquisition in more than 20 years. The investment in Dynamic Yield will help McDonald’s create a personalized drive-thru menu for its customers for an enhanced ordering experience. Then in September, McDonald’s announced that it will be purchasing and early stage voiced-based tech company Apprente. The purchase was yet another attempt to use tech to create a better drive-thru experience for customers. Customers will soon be able to drive up to the drive-thru and speak to a voice-powered machine to place orders. Competition in the fast-food industry has been high, as companies like Wendy’s (WEN) announced last month that it would be making yet another attempt to join the select group of fast-food restaurants offering up breakfast. Wendy’s said that it would be hiring an additional 20,000 workers for the early 2020 launch. While breakfast is the most profitable day part for fast-food restaurants, it is also one of the most challenging. McDonald’s shares rose 20% in 2019 and were roughly in line with the S&P 500’s (^GSPC) 21% gain during the same time period. The conference call with management will kick off at 11 a.m. ET. This post is developing. Please check back for updates. https://sg.finance.yahoo.com/news/mcdonalds-earnings-q3-2019-120223556.html Edited October 22, 2019 by The_King Link to comment Share on other sites More sharing options...
aaur4man Posted October 22, 2019 Share Posted October 22, 2019 Can't read on dark theme...can consider select all and press the "remove format" button before posting... 1 Link to comment Share on other sites More sharing options...
XianGe Posted October 22, 2019 Share Posted October 22, 2019 Sinkieland mcd wun hab tis issue Link to comment Share on other sites More sharing options...
The_King Posted October 22, 2019 Author Share Posted October 22, 2019 1 hour ago, aaur4man said: Can't read on dark theme...can consider select all and press the "remove format" button before posting... once you try white you would not go back 1 Link to comment Share on other sites More sharing options...
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