This summer’s viral Grimace Shake should have McDonald’s investors cracking a smile when the company reports its fiscal second-quarter earnings Thursday morning.
The Street projects revenue of $6.27 billion, an increase of 9.6% year-over-year driven in part by the shake sensation dedicated to the purple McDonaldland character — who may or may not be a taste bud.
Adjusted earnings are expected to rise 9% from last year, and same-store sales are projected to rise 9.3%. Sales in internationally operated markets, which include the UK, France, Germany, Canada and Austria, are estimated to rise by 8.2%, while international development markets, such as Japan and Brazil, are projected to increase by 11.3%.
McDonald’s previously said it plans to open 1,900 locations in 2023, which would be its biggest growth year since 2014.
The fast food titan has seen its stock climb 10% thus far in 2023. On Wednesday afternoon, it traded 0.4% lower at $291.23.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel