McDonald’s reported quarterly revenues of $5.42 billion, up from expected $5.4 billion, according to the company’s press release. Quarter net income was $1.76 billion or $2.35 per share, up from $1.61 billion or $2.11 per share a year earlier. Quarter earnings were primarily driven by a 4.6% surge in same-store sales in the U.S.
- McDonald’s will spend $1.6 billion on capital expenditures this year, with about $850 million going into U.S. business.
- The company expects to open 950 new restaurants with about 270 being in the U.S. and International Operated Markets, including France and the U.K, while China will add 400 new locations.
- The company will have a 300 net restaurant adds in 2020.
- McDonald’s declared a 3% rise in quarterly cash dividend to $1.29 per share, payable on December 15, 2020.
- The global same-store sales fell 2.2% in Q3 on slower recovery despite improvements in comparable monthly sales across all segments.
- McDonald’s system-wide sales were flat with the prior year, declining 1% on a constant currencies basis.
McDonald’s stock is currently gaining. MCD: NYSE is up 1.16%