McDonald’s Reports Second Quarter 2017 Results
OAK BROOK, Ill., July 25, 2017 (hospitalitybusinessnews.com) — McDonald’s Corporation today announced results for the second quarter ended June 30, 2017.
“We’re building a better McDonald’s and more customers are noticing,” said McDonald’s President and Chief Executive Officer Steve Easterbrook. “Our relentless commitment to running great restaurants and keeping the customer at the center of everything we do is generating broad-based strength and momentum across our entire business. For the quarter, we delivered our strongest global comparable sales and guest count results in more than five years. We’re now introducing our Velocity Growth Plan accelerators in more restaurants around the world, bringing meaningful benefits to more customers through digital, delivery and our Experience of the Future.”
Second quarter highlights:
- Global comparable sales increased 6.6%, reflecting positive guest counts in all segments
- Consolidated revenues decreased 3% (2% in constant currencies), due to the impact of the Company’s strategic refranchising initiative
- Systemwide sales increased 8% in constant currencies, due to strong comparable sales performance and restaurant expansion
- Consolidated operating income increased 24% (26% in constant currencies), which included a benefit from the prior year’s strategic charges of approximately $230 million
- Diluted earnings per share of $1.70 increased 36% (38% in constant currencies). Excluding the impact of the current quarter and prior year strategic charges of $0.03 and $0.20 per share, respectively, diluted earnings per share increased 19% (21% in constant currencies)
- Returned $1.8 billion to shareholders through share repurchases and dividends
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