13:47
Traffic jam:   4
$
92.2628
99.7057

Mcdonald's announced the results of Q3

10 November 2020
2654
2 min.
3
Mcdonald's announced the results of Q3

McDonald's sales recovered in the third quarter, driven by a 4.6% growth in the USA

McDonald's (MCD) shares, which have increased 9.6 per cent since the beginning of the year, rose by more than 5 per cent in trading on Monday 9 November after the company published its third quarter pre-market report.

In the three months from July to September, McDonald's, the international fast food chain, reported a significant recovery in sales as well as an increase in profits after the previous two quarters of decline.

Earnings per share for Q3 increased by 5% (compared to last year) to $2.22, $0.32 more than the analyst estimate of $1.90. In Q2 and Q2, McDonald's reported declines of 68% and 15% respectively.

The amount of profit increased by 10% to $1.76 billion compared to $1.61 billion a year earlier, which was facilitated by profit from the sale of part of McDonald's share in its Japanese branch.

Total quarterly revenue was $5.42 billion compared to $5.43 billion in the third quarter of 2019, slightly above the analyst estimate of $5.4 billion.

McDonald's sales recovery in the U.S. in the third quarter was faster than that of its competitor Burger King, who reported a 3.2 per cent drop in sales but lower than Wendy's 7 per cent growth.

However, McDonald's total global sales fell 2.2 per cent in the quarter due to slower recovery in international markets.

McDonald's said it will increase quarterly cash dividends by 3% to $1.29 per share. The company confirmed that it plans to spend $1.6 billion on capital expenditure this year as it sees positive results in modernising its restaurants. Despite the pandemic, McDonald's predicts some 950 new restaurants to open, 270 of which will be in the US and international markets, including France and the United Kingdom. At the same time, the company will close a significant portion of the restaurants in the US that have brought low sales.

Companies3 in the news

Wendy's
1 place
Burger King
2 place
McDonald's
3 place
Section:

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Population
8112865333
Died this year
14412811
Born this year
35458066