McDonald’s: Reported Q1-2023 Financial Results

Chicago / IL. (mdc) McDonald’s Corporation announced results for the first quarter ended March 31, 2023. «Our strong first quarter results demonstrate that our «Accelerating the Arches» strategy is working, as comparable sales grew 12.6 percent through a healthy balance of strategic menu price increases and positive traffic growth,» said President and Chief Executive Officer Chris Kempczinski. «Running great restaurants is fundamental to our business momentum. We have refocused on operational excellence through our global Performance and Customer Excellence (PACE) initiative, and we’ve seen significant customer satisfaction improvement around the world. Amidst a challenging operating environment, customer demand for McDonald’s Brand remains strong.»

First quarter financial performance

• Global comparable sales increased 12.6 percent, reflecting strong comparable sales of 12.6 percent across each segment.
• Consolidated revenues increased 4 percent (8 percent in constant currencies).
• Systemwide sales increased 9 percent (13 percent in constant currencies).
• Consolidated operating income increased 10 percent (14 percent in constant currencies).
• Diluted earnings per share was USD 2.45, an increase of 66 percent (72 percent in constant currencies). Excluding USD 0.18 per share of current year restructuring charges related to the Company’s internal effort to modernize ways of working («Accelerating the Organization»), diluted earnings per share was plus USD 2.63, an increase of 15 percent (19 percent in constant currencies) when also excluding prior year charges.

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

20230425-MCDONALDS-Q1-2023.