{"id":198368,"date":"2023-10-30T10:00:00","date_gmt":"2023-10-30T14:00:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=198368"},"modified":"2023-10-30T11:58:29","modified_gmt":"2023-10-30T15:58:29","slug":"mcdonalds-price-hike-serves-up-tasty-margins-in-q3-earnings-feast","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/stocks\/mcdonalds-price-hike-serves-up-tasty-margins-in-q3-earnings-feast\/","title":{"rendered":"McDonald’s Price Hike Serves Up Tasty Margins in Q3 Earnings Feast!"},"content":{"rendered":"\n

McDonald’s Corp<\/strong> reported third-quarter FY23 sales growth of 14%<\/a> year-on-year to $6.692 billion, beating the analyst consensus estimate of $6.577 billion.<\/p>\n\n\n\n

Global comparable sales rose 8.8%, reflecting strong growth across each segment. <\/p>\n\n\n\n

U.S. Comparable sales rose 8.1%, benefiting from strong average check growth driven by strategic menu price increases.<\/p>\n\n\n\n

Sales by company-operated restaurants increased 20.3% Y\/Y to $2.56 billion, while sales from franchised restaurants rose 10.2% to $4.05 billion.<\/p>\n\n\n\n

Digital Systemwide sales in the top six markets were nearly $9 billion for the quarter, representing almost 40% of their Systemwide sales.<\/p>\n\n\n\n

Total operating costs and expenses increased 12.1% to $3.48 billion. Operating income for the quarter rose 16% to $3.208 billion, with an operating margin of 47.9%, up from 47.06% year-over-year.<\/p>\n\n\n\n

Adjusted EPS of $3.19 beat the consensus<\/a> estimate of $3.00.<\/p>\n\n\n\n

On October 4, the company said the Board of Directors increased the quarterly cash<\/a> dividend by 10% to $1.67 per share, payable on December 15, 2023 to shareholders of record at the close of business on December 1, 2023. <\/p>\n\n\n\n

“With global Systemwide sales growth of 11%, our third quarter results reflect our position of strength as the industry leader,” said President and CEO Chris Kempczinski.<\/p>\n\n\n\n

Outlook<\/strong>:<\/h2>\n\n\n\n

MCD sees FY23 operating margin of 46%; Capital expenditure of $2.2 billion – $2.4 billion.<\/p>\n\n\n\n

Globally, the company expects to open about 1,900 restaurants in FY23.<\/p>\n\n\n\n

Price Action<\/strong>: <\/h2>\n\n\n\n

MCD shares are trading higher by 3.10% at $263.88 in premarket on the last check Thursday.<\/p>\n\n\n\n

—<\/p>\n\n\n\n

McDonald’s Price Hike Serves Up Tasty Margins in Q3 Earnings Feast!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

McDonald’s Corp reported third-quarter FY23 sales growth of 14% year-on-year to $6.692 billion, beating the analyst consensus estimate of $6.577 billion.<\/p>\n","protected":false},"author":1225,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6,8,9,22,26,3],"tags":[267,5543,11260],"contributors-categories":[13584],"class_list":{"0":"post-198368","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-north-america","7":"category-region","8":"category-securities","9":"category-stocks","10":"category-text-articles","11":"category-traders-insight","12":"tag-earnings","13":"tag-mcdonalds","14":"tag-price-hike","15":"contributors-categories-benzinga"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nMcDonald’s Price Hike Serves Up Tasty Margins in Q3 Earnings Feast!<\/title>\n<meta name=\"description\" content=\"McDonald's Corp reported third-quarter FY23 sales growth of 14% year-on-year to $6.692 billion, beating the analyst consensus estimate of $6.577 billion.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/198368\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"McDonald's Price Hike Serves Up Tasty Margins in Q3 Earnings Feast! 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