McDonald's earnings advance 11 percent
Jan. 24, 2012
by Meat&Poultry Staff
OAK BROOK, Ill. — Increased revenue, same-store sales gains and strength across the globe contributed to an 11 percent increase in income for McDonald’s during 2011.
For the year ended Dec. 31, the company had income of $5,503.1 million, equal to $5.27 per share on the common stock, which compared with $4,946.3 million, or $4.58 per share, during the previous year. Revenue for the year was $27,006 million, up 12 percent from $24,074.6 million during fiscal 2010.
“During 2011, McDonald’s continued momentum drove higher profitability and market share gains as we fortified our leadership position around the world,” said Jim Skinner, chief executive officer. “The ongoing strength of McDonald’s results is rooted in our Plan to Win with a relentless focus on what matters most to our customers. We are enhancing the customer experience — from our menu and service to our value and convenience — while giving more people more reasons to visit McDonald’s more often.”
For the fourth quarter ended Dec. 31, the company had income of 1,376.6 million, or $1.33 per share, up 11 percent from $1,242.3 million, or $1.16 per share, during the same quarter of the previous year. Revenue for the quarter was $6,822.7 million, up 10 percent from $6,214.1 million during the same quarter of the previous year.
“As we begin 2012, we are intensifying our efforts toward the global priorities that represent our greatest opportunities under the Plan to Win — optimizing and evolving our menu, modernizing the customer experience and broadening accessibility to our brand,” Skinner said. “In 2012, we plan to invest about $2.9 billion of capital — roughly half dedicated to opening more than 1,300 new McDonald’s restaurants and the other half allocated to investing in our existing locations, including the re-imaging of over 2,400 restaurants. I am confident that the investments we are making today will yield long-term value for our shareholders.”