Sunday April 3, 2022, 11:00:39
McDonald’s plans to report its first-quarter earnings before the market open on Thursday, April 28th. Ahead of that, we retain our Q1E U.S. same-store sales forecast of +3.0%.
Thursday January 27, 2022, 09:45:19
Earlier today, McDonald’s reported adjusted Q4 EPS of $2.23, falling short of our $2.35 estimate and sell-side consensus (according to Consensus Metrix) of $2.33 We attribute the EPS shortfall largely to: (1) tax rate (we calculate that the adjusted tax rate was about 23.8%, higher than our 21.0% projection and consensus of 21.0%), and (2) SG&A/Revenues of 14.0%, versus our 13.2% forecast and consensus of 13.1%. Management says that part of this higher SG&A was driven by performance-driven compensation expense, as results for 2021 exceeded plans.
Tuesday January 25, 2022, 07:00:00
Today we publish part 2 of 2 of the January 2022 edition of our proprietary McDonald’s Franchisee Survey. This report focuses on franchisees’ thoughts as regards the MyMcDonald’s Rewards loyalty program (rolled out nationwide in the U.S. in early July 2021), and also provides some general thoughts from the franchisees about any topic that is at the forefront of their minds.
Thursday October 10, 2024
Thursday October 10, 2024