McDonalds: Reports Second Quarter 2024 Results

Chicago / IL. (mdc) McDonald’s Corporation announced results for the second quarter ended June 30, 2024. «We are confident that our strategy is the right playbook for our business and as consumers are more discriminating with their spend, we are focused on the outstanding execution of delivering reliable, everyday value and accelerating strategic growth drivers,» said CEO Chris Kempczinski.

Second quarter financial performance

• Global comparable sales decreased 1.0 percent, reflecting negative comparable sales across all segments: U.S. down 0.7 percent – International Operated Markets segment down 1.1 percent – International Developmental Licensed Markets segment down 1.3 percent
• Consolidated revenues were flat (increased 1 percent in constant currencies).
• Systemwide sales decreased 1 percent (increased 1 percent in constant currencies).
• Consolidated operating income decreased 6 percent (5 percent in constant currencies). Results included USD 97 million of pre-tax non-cash impairment charges and USD 57 million of pre-tax restructuring charges associated with Accelerating the Organization. Excluding these current year charges, as well as prior year pre-tax charges of USD 18 million, consolidated operating income decreased 2 percent (was flat in constant currencies).
• Diluted earnings per share was USD 2.80, a decrease of 11 percent (10 percent in constant currencies). Excluding the current year charges described above of USD 0.17 per share, diluted EPS was USD 2.97, a decrease of 6 percent (5 percent in constant currencies) when also excluding prior year charges.

For additional information please refer to the company’s news release (PDF | 107 KB):

20240730-MCDONALDS-Q22024.