McDonald’s: Reported Q1-2023 Financial Results

Chicago / IL. (mdc) McDonald’s Corporation announced results for the second quarter ended June 30, 2023. «Our second quarter results reflect consistently strong execution of our Accelerating the Arches strategy, with global comparable sales growth of 11.7 percent and double-digit comparable sales growth across each of our segments,» said McDonald’s President and Chief Executive Officer, Chris Kempczinski. «The McDonald’s brand has never been stronger and I remain inspired by the ability of the McDonald’s System to create cultural conversations and develop industry-leading innovations. While global macroeconomic challenges persist, we continue to invest in our growth drivers and our brand to meet the customer needs of tomorrow.» Second quarter financial performance:

  • Global comparable sales increased 11.7 percent, reflecting strong comparable sales across all segments:
    • U.S. increased 10.3 percent
    • International Operated Markets segment increased 11.9 percent
    • International Developmental Licensed Markets segment increased 14.0 percent
  • Consolidated revenues increased 14 percent (14 percent in constant currencies).
  • Systemwide sales increased 12 percent (13 percent in constant currencies).
  • Consolidated operating income increased 81 percent (82 percent in constant currencies). Results included USD 18 million of pre-tax restructuring charges related to the Company’s internal effort to modernize ways of working (Accelerating the Organization). Excluding these current year charges, as well as prior year pre-tax charges and gains of USD 1.2 billion and USD 271 million, respectively, consolidated operating income increased 20 percent (21 percent in constant currencies).
  • Diluted earnings per share was USD 3.15, an increase of 97 percent (98 percent in constant currencies). Excluding the current year restructuring charges described above of USD 0.02 per share, diluted earnings per share was USD 3.17, an increase of 24 percent (25 percent in constant currencies) when also excluding prior year charges and gains and a tax settlement.

For additional information please refer to the company’s news release (PDF | 166 KB):