By Mark Kalinowski
Published on July 26, 2019 at 12:00 AM
Earlier today, McDonald’s (MCD; Buy) reported adjusted Q2 EPS of $2.05, one cent short of our $2.06 forecast, but in line with sell-side consensus (according to Consensus Metrix) of $2.05. However, investor eyes may be more focused on the robust Q2 same-store sales trends across the board.
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By Mark Kalinowski
Published on July 25, 2019 at 12:00 AM
After Thursday’s market close, Starbucks (SBUX; Buy) reported adjusted fiscal Q3 EPS of $0.78, surpassing our $0.73 forecast and sell-side consensus (according to Consensus Metrix) of $0.72. We attribute the earnings outperformance largely to better-than-expected same-store sales gains in the U.S. and in international markets.
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By Mark Kalinowski
Published on April 30, 2019 at 12:00 AM
Earlier today, McDonald’s (MCD; Buy) reported its Q1 EPS of $1.72, above our $1.71 forecast, but below the sell-side consensus of $1.75. But the real story is that U.S. same-store sales rose by an unexpectedly robust +4.5%, easily surpassing our above-consensus +3.2% projection. McDonald’s attributes the strong showing to “successful promotions, including the Bacon Event, the 2 for $5 Mix and Match deal, and Donut Sticks, as well as a net positive impact from our Experience of the Future deployment.” On this latter front, management noted on today’s conference call that this is the first time ever that it can make this statement. We look for this effect to continue in coming quarters.
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