Chicago / IL. (mdc) McDonald’s Corporation announced results for the second quarter ended June 30, 2022. «The McDonald’s System continues to demonstrate strength and resiliency,» said McDonald’s President and Chief Executive Officer, Chris Kempczinski. «Our second quarter performance reflects outstanding execution against our Accelerating the Arches strategy. By focusing on our customers and crew, enabled by a rapidly growing digital capability, we delivered global comparable sales growth of nearly 10 percent. Nonetheless, the operating environment across the competitive landscape remains challenging. While we are planning for a wide range of scenarios, I am confident that our plans and people position McDonald’s to weather this environment better than others.»
Second quarter financial performance
- Global comparable sales increased 9.7 percent, reflecting positive comparable sales across all segments:
- U.S. increased 3.7 percent
- International Operated Markets segment increased 13.0 percent
- International Developmental Licensed Markets segment increased 16.0 percent
- Consolidated revenues decreased 3 percent (increased 3 percent in constant currencies).
- Systemwide sales increased 4 percent (10 percent in constant currencies).
- Consolidated operating income decreased 36 percent (30 percent in constant currencies). Results included USD 1.2 billion of charges related to the sale of the Company’s business in Russia and a gain of USD 271 million related to the Company’s sale of its Dynamic Yield business. Excluding these current year net charges and prior year net gains of USD 98 million, primarily related to the sale of McDonald’s Japan stock, consolidated operating income was flat (increased 7 percent in constant currencies).
- Diluted earnings per share was USD 1.60, a decrease of 46 percent (41 percent in constant currencies). Excluding the net charges described above of USD 0.90 per share and nonoperating expense of USD 0.05 per share related to the settlement of a tax audit in France, diluted earnings per share for the quarter was USD 2.55, an increase of 8 percent (14 percent in constant currencies), when also excluding prior year net pre-tax gains of USD 0.10 per share and income tax benefits of USD 0.48 per share.
For additional information please read the company’s PDF file below (166 KB).20220727-MCDONALDS-Q2-2022