Tuesday January 31, 2023, 09:48:54

MCD (Post-Call): Impressive Sales Trends, But Cautious on 2023 Margin Outlook

By Mark Kalinowski

Earlier today, McDonald’s reported Q4 EPS of $2.59, ahead of our $2.48 estimate and sell-side consensus (according to Consensus Metrix) of $2.46. Factors helping EPS in Q4 included robust same-store sales, higher-than-expected nonoperating income, and a more favorable tax rate than anticipated. On the other hand, SG&A/Revenues came in higher (worse) than expected.

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Wednesday January 25, 2023, 07:00:00

MCD: Part 2 of Franchisee Survey Looks at the “Best Burger” Initiative

By Mark Kalinowski

Today we publish part 2 of 2 of the January 2023 edition of our proprietary McDonald’s Franchisee Survey. This report focuses on franchisees’ thoughts as to the “Best Burger” (a.k.a. “Better Burger”) initiative – involving cooking with smaller batches of beef patties, adding onions while the burgers are on the grill, etc. — that McDonald’s is implementing in the U.S. over the first six months of the year. This report also provides some general thoughts from the franchisees about any topic currently at the forefront of their minds.

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Tuesday January 24, 2023, 07:00:00

MCD: Franchisee Survey Leads to Updated Q1E U.S. Same-Store Sales Forecast

By Mark Kalinowski

McDonald’s plans to release its Q4 earnings before the market open on Tuesday, January 31st. Ahead of that, we publish part one of our two-part, proprietary McDonald’s Franchisee Survey today. (Look for part two, which will discuss franchisees’ views about the “Best Burger” initiative, later this week.)

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