McDonald's Q3 earnings up

By Bizclik Editor

The October edition of the Business Review Canada is now live!

McDonald’s posted higher profits for its third quarter, but is expecting sales to be flat this month, the company said Monday.

Shares were trading at $93.67, down 1.5 percent after the market opened on Monday.

According to Thomas Reuters, McDonald’s earned $1.52 a share just beating analysts’ estimates of $1.51 a share.

"Our results reflect McDonald's ability to grow amid the broad-based challenges of the current environment by focusing on those areas of the business within our control," CEO Don Thompson said in a news release.

The Oak Brook, Illinois business has struggled to boost sales among high competition and a fundamental shift in consumer choices to reflect a healthier lifestyle. This is occurring as economic conditions around the world persist and remain taxing.  

Read related content:

Last year McDonald’s saw its monthly sales figures drop for the first time in almost a decade. The head of U.S. business was replaced and the company continues to focus on value.

The fast-food restaurant reported that global sales at restaurants open at least 13 months increased less than 1 percent (0.9 percent), and operating income was up 5 percent.

The popular Monopoly promotion in the U.S. and the introduction of Mighty Wings with a national, limited-time offer helped sales. During the fourth quarter, McDonald's said it expects global sales to be relatively flat.

"While we are focused on strengthening our near-term performance, the current environment continues to pressure results," said Don Thompson.

Share

Featured Articles

DEI done right: Brook Sims, COO, MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Q&A: China’s ecommerce innovator Jeff Li, CEO of Shoplazza

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

How hybrid work is revolutionising the physical office

As hybrid work models roll out worldwide, the purpose of the office is changing with collaboration, connection and networking taking centre stage

Trailblazer: Shanique Bonelli-Moore, DEI chief at Clorox

Sustainability

Dean Forbes – the Forterro CEO aiming for the moon

Leadership & Strategy

Why becoming a B Corp is good for business

Sustainability