McDonald's income flat on strong prior-year results
by Meat&Poultry Staff
OAK BROOK, Ill. — Income at McDonald’s during the first quarter was slightly higher but nearly flat while comparable sales and operating income declined due to strong prior-year results.
Income for McDonald’s during the quarter ended March 31 was $1,270.2 million, equal to $1.26 per share on the common stock, which compared with income of $1,266.7 million, or $1.23 per share, during the same quarter of the previous year. Revenue for the quarter was $6,605.3 million, up 1 percent from $6,546.6 million.
“McDonald’s remains diligently focused on enhancing our menu, restaurants and the overall customer experience to become more relevant to today’s consumers,” said Don Thompson, president and chief executive officer. “While the company’s results for the quarter reflected difficult prior-year comparisons and the ongoing impact of global economic headwinds, we continue our efforts to build market share and deliver sustained profitable growth for all stakeholders.”
The company also reported global comparable sales decreased 1 percent and consolidated operating income decreased 1 percent. The company returned $1.1 billion to shareholders through dividends and share repurchases during the quarter.
In the United States, comparable sales decreased 1.2 percent and operating income fell 3 percent during the quarter as the result of a challenging eating-out environment. In Europe, first-quarter comparable sales were down 1.1 percent while operating income rose 1 percent with strength coming from the UK and Russia. In Asia/Pacific, Middle East and Africa, comparable sales were down 3.3 percent and operating income was down 1 percent on ongoing weakness in Japan and negative results in China.