McDonald’s (NYSE:MCD) earnings for the fast-food company’s second quarter of 2020 have MCD stock down on Tuesday. This comes after reporting adjusted earnings per share of 66 cents, which is below Wall Street’s estimate of 74 cents. However, its revenue of $3.76 billion is better than analysts’ estimates of $3.68 billion.
Let’s take a more thorough look at the most recent McDonald’s earnings report below.
- Adjusted per-share earnings are down 68% from $2.05 during the same time last year.
- Revenue for the quarter comes in 30% lower than the $5.41 billion reported in the second quarter of 2019.
- Operating income of $961.1 million is a 58% drop year-over-year from $2.27 billion.
- The McDonald’s earnings report also includes a net income of $483.8 million.
- That’s a 68% decline compared to the company’s net income of $1.52 billion in the same period of the year prior.
Chris Kempczinski, president and CEO of McDonald’s, said this about the earnings.
“Our strong drive-thru presence and the investments we’ve made in delivery and digital over the past few years have served us well through these uncertain times. We saw continued improvement in our results throughout the second quarter as markets reopened around the world.”
McDonald’s doesn’t provide guidance in the current earnings report. However, the company does point out that 99% of its locations are open in the U.S. Around the world, the fast-food chain has 96% of stores open.
MCD stock was down 2.1% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
