McDonald’s (NYSE:MCD) earnings for the fast-food chain’s third quarter of 2019 has MCD stock taking a beating on Tuesday. This is due to the company’s earnings per share of $2.11, which misses Wall Street’s estimate of $2.21 for the quarter. Revenue of $5.43 billion also didn’t help MCD stock by coming in below analysts’ estimate of $5.49 billion.
Let’s take a closer look at the most recent McDonald’s earnings report.
- EPS for the quarter is only up slightly from $2.10 in the same period of the year prior.
- Revenue comes in 1.12% higher YoY than $5.37 billion.
- Operating income of $2.41 billion is down a little bit from $2.42 billion in the third quarter of 2018.
- The McDonald’s earnings report also has net income coming in at $1.61 billion.
- That’s a 1.83% drop from the company’s net income of $1.64 billion during the same time last year.
Steve Easterbrook, President and CEO of McDonald’s, says this about the current MCD stock earnings.
“Our third quarter performance was strong, and broad-based momentum continued with our 17th consecutive quarter of global comparable sales growth. Globally, our customers are rewarding our commitment of running better restaurants and executing our Velocity Growth Plan by visiting more often.”
The Q3 McDonald’s earnings report doesn’t mention an update to the chain’s outlook for the full year of 2019. However, we do know that Wall Street is looking for per-share earnings of $8.01 on revenue of $21.10 billion for the year.
MCD stock was down 4.55% as of Tuesday morning. The stock is up 19.19% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.
