Sunday October 28, 2018, 00:00:00
Clients often ask us what the detailed income statement of a typical McDonald’s (MCD; Buy) franchisee looks like. What follows is our best efforts to put together a typical, detailed income statement for the “average” U.S. McDonald’s standard-size franchised store.
Tuesday October 23, 2018, 00:00:00
Earlier today, McDonald’s (MCD; Buy) reported Q3 EPS of $2.10, exceeding our $2.01 forecast and sell-side consensus of $1.99 (as measured by Consensus Metrix). Factors helping Q3 EPS included better-than-expected same-store sales in all four regions (U.S., International Lead Markets, High Growth Markets, and Foundational), better-than-expected SG&A/Revenues (9.6% actual vs. 10.3% projected), and a more favorable-than-projected tax rate (help of about $0.05). Given the Q3 outperformance of $0.09, our full-year 2018E EPS estimate goes up by $0.09, to $7.78.
Thursday January 1, 1970, 00:00:00
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