MCD Let’s See Just How “Speedee” These Arches Can Accelerate

By Mark Kalinowski Published on November 9, 2020 at 12:00 AM

Earlier today, McDonald’s reported adjusted Q3 EPS of $2.22, ahead of our $1.92 forecast and sell-side consensus (according to Consensus Metrix) of $1.92. Currencies helped Q3 EPS by +3 cents. Factors that drive the EPS beat include: (1) better-than-expected company-level restaurant operating margins (17.9% actual vs. 15.8% projected), a favorable tax rate (20.5% actual vs. our 24.0% estimate), and (3) better-than-expected SG&A/Revenues (9.8% actual vs. our 10.4% forecast).

MCD Part 2 of McDonald’s Franchisee Survey Focuses on Breakfast

By Mark Kalinowski Published on October 27, 2020 at 12:00 AM

Today we publish part 2 of 2 of our proprietary McDonald’s Franchisee Survey. Much of this report focuses on the breakfast daypart, which has lagged behind in recovery over the last 3-5 months not just for McDonald’s, but for the restaurant industry in general.

MCD McDonald’s Franchisee Survey Leads to Updated Q4E Forecasts

By Mark Kalinowski Published on October 23, 2020 at 12:00 AM

McDonald’s plans to release its full-Q3 earnings before the market open on Monday, November 9th, to be followed that day by the related earnings release conference call and a Virtual Investor Update. McDonald’s has already released its Q3 samestore sales results, including a U.S. advance of +4.6%.