McDonald's reported disappointing first-quarter earnings for 2024, missing Wall Street's expectations for both earnings per share and sales growth. The company's adjusted earnings per share (EPS) were $2.70, slightly below the expected $2.72, while revenue was $6.17 billion, marginally above the forecast of $6.16 billion. Comparable sales growth was 1.9%, which also fell short of the anticipated 2.33%. The results reflect a broader trend of budget-conscious consumers cutting back on spending, influenced by the ongoing Middle East conflict and general economic headwinds. McDonald's highlighted the impact of boycotts in the Middle East on its sales, and the company's CFO, Ian Borden, noted significant macroeconomic challenges that are expected to continue affecting the industry throughout the year. Additionally, US comparable sales were up 2.5%, IOM comparable sales increased by 2.7%, and IDL comparable sales decreased by 0.2%.
The McDonald’s consumer is “price weary” and now McDonald’s is not taking price for the balance of this year. $MCD
I have hope for the future. https://t.co/gYqN8pWikH
"The consumer is price weary. We certainly are going to be prudent and thoughtful about any further price increases." -Ian Borden, McDonald's CFO. Worth noting that franchisees determine pricing at McDonald's. $MCD
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McDonald's performance gap to competitors has eroded in recent quarters. Chris K largely blames it on value position. "Our relative superiority on affordability has declined" in some U.S. markets. $MCD
This is silly - if they didn’t raise prices so aggressively, they wouldn’t need the value messaging? $MCD https://t.co/a6HSbLDOSw
yes, just what America needs, more food.... https://t.co/2uo2gwacOp
This silly - if they didn’t raise prices so aggressively, they wouldn’t need the value messaging? $MCD https://t.co/a6HSbLDOSw
McDonald's says restaurant-level margins have been "rebuilt" to 2019 levels after COVID, inflation, etc. Those margins give the company the ability to do more on value, Chris K says. $MCD
Delivery sales hit all-time highs at McDonald's in the U.S. in 1Q. $MCD
Value focused is "more pronounced" with low-income consumer but "all income cohorts are seeking value," Chris K says. Echoes similar comments from Domino's yesterday. $MCD
McDonald's and Starbucks Offer Good Value $MCD $SBUX #stocks #investing #valueinvesting #Value #Commentary #Retail #ConsumerCyclical https://t.co/JOi1nJYXGm
McDonald's saying it will focus more on value messaging. "We're doing it in 50 different ways with local value. What we don't have in the U.S. is a national value platform." Chris K says the company needs "high awareness" of value for it to work. $MCD
"Macro headwinds are more significant than even we anticipated coming into the year." - McDonald's CFO Ian Borden. "2024 isn't going to be a typical year for the broader industry." "Affordability is an area where consumer expectations are heightened." $MCD
McDonald’s says Macro headwinds continue into 2Q24 with flat comps likely $MCD
Also, on the larger burger, McDonald's mentioned that it plans to do this last month. $MCD https://t.co/JWK1nKqlBN
McDonald's has been signaling a shift to more value pretty much all year, as noted in this piece in February. $MCD https://t.co/DVUcSGEvB5
McDonald's $MCD shares slip as Q1 comparable sales growth falls short https://t.co/ETzUlJ1fa3 https://t.co/R84mbmfisw
McDonald's recently opened its 6,000th restaurant in China and says that it is on track with its development plans. $MCD
$MCD MCDONALD'S TO TEST LARGER BURGER THIS YEAR
$MCD (-0.9% pre) McDonald's Q1 earnings miss sales expectations, as consumers tighten their wallets https://t.co/xD3ZhxePqu
"We expect moderated topline growth this year." McDonald's suggests weak global economy will hurt sales this year. $MCD
$MMM (+6.3% pre) 3M Co (MMM) Q1 2024 Earnings: Adjusted EPS Surpasses Expectations Amidst Minor Sales Decline https://t.co/2AirhUyq53
⚠️ JUST IN: *MCDONALD'S EARNINGS MISS ESTIMATES AS DINERS PULL BACK, MIDDLE EAST BOYCOTT HIT SALES $MCD https://t.co/B9lqG51sr4
McDonald's misses on EPS, revs in-line. US comp sales +2.5% & global comp sales +1.9%. CEO: "Our global comparable sales growth in the first quarter marks 13 consecutive quarters of positive comparable sales growth with 30% growth over the last 4 years" $MCD: -1.7% PM https://t.co/lmrEB2ZAWt https://t.co/vyeWpDUBh4
"The chain posted Q1 results that missed revenue growth and same-store sales estimates across its segments, while its earnings also came below expectations." $MCD McDonald's Q1 earnings miss sales expectations, as consumers tighten their wallets https://t.co/RhlzE8O0AA
$MCD MCDONALD'S Q1 2024 EARNINGS ADJ EPS $2.70, EST. $2.72 REV. $6.17B, EST. $6.15B COMP SALES +1.9%, EST. +2.33% US COMP SALES +2.5%, EST. +2.55% IOM COMP SALES +2.7%, EST. +3.2% IDL COMP SALES -0.2%, EST. +1.17% SEES THE YEARS OPERATING MARGIN % MID-TO-HIGH 40% RANGE…
McDonald’s results fell short of expectations in the first quarter, hampered by slowing growth in the US and the reverberations of the Israel-Hamas war https://t.co/O83oFrFAWJ
$MCD | McDonalds Q1 24 Earnings: - Adj EPS: $2.70 (est $2.72) - Revenue: $6.17B (est $6.15B) - Comp Sales +1.9% (est +2.33%)
$MCD | McDonald's Q1 Earnings: - Adj EPS $2.70 (Est. $2.72) - Sales $6.17B (Est. $6.16B)
$MCD #McDonald’s earnings miss estimates as boycotts weigh on Middle Eastern sales Earnings per share: $2.70 adjusted vs. $2.72 expected Revenue: $6.17 billion vs. $6.16 billion expected https://t.co/wepzl6MPnU
McDonald’s reports lower-than-expected sales growth for the first quarter https://t.co/72vEROJBjD
⚠️ MCDONALD'S SALES MISSES ESTIMATES AS CUSTOMERS CUT BACK SPENDING Full Story → https://t.co/f43jPCotLg McDonald's fell short of Wall Street estimates for first-quarter sales on Tuesday as budget-conscious consumers cut back on restaurant meals and the Middle East conflict… https://t.co/IzzajZMa50
$MCD MCDONALD'S Q1 2024 EARNINGS ADJ EPS $2.70, EST. $2.72 REV. $6.17B, EST. $6.15B COMP SALES +1.9%, EST. +2.33%
💰 McDonald’s $MCD EPS. vs Forecast 2.7 / 2.72 🔴 Rev. vs Forecast 6.17B / 6.16B 🟢 Market Cap: 197.52B
$MCD MCDONALD'S Q1 2024 EARNINGS
$MMM | 3M Q1 24 Earnings: - Adj EPS: $2.39 (est $2.03) - Revenue: $8.0B (est $7.65B) - Sees Div Payout Ratio Of About 40% Of Adj Free Cash Flow - Sees FY Adj EPS $6.80 To $7.30
$MCD 🚨 Earnings Preview https://t.co/wTMSm7doq4
⚠️ MCDONALD'S SET FOR WEAK SALES GROWTH AS US FAST-FOOD CHAINS GRAPPLE WITH MUTED TRAFFIC Full Story → https://t.co/P6xJyQEGpl McDonald's is set to report a sequential drop in sales growth for the fourth straight quarter as low-income consumers remain hesitant about eating… https://t.co/gQ7dspplr7