McDonald's Corp (NYSE:MCD, XETRA:MDO) reported first quarter results that surpassed analyst expectations, supported by steady international demand and continued strength in loyalty-driven sales, even as the company described a “challenging” consumer environment.
For the quarter, adjusted earnings per share came in at $2.83, ahead of estimates of roughly $2.74 to $2.75. Revenue totaled $6.52 billion, slightly above the consensus of $6.48 billion.
Global comparable sales increased 3.8%, in line with expectations, with growth across all major segments.
US comparable sales rose 3.9%, driven primarily by higher average check sizes.
Revenue growth was supported by a 9% increase in consolidated revenues (4% in constant currencies), while systemwide sales increased 11% (6% in constant currencies).
“McDonald's delivered this quarter. Our 6% global Systemwide sales growth shows how we executed with discipline, proving that we can drive results even in a challenging environment," McDonald’s CEO Chris Kempczinski said in a statement.
"And it’s our commitment to going three-for-three that sets McDonald’s apart. Our value leadership, breakthrough marketing, and menu innovation continue to serve up what customers want.”
McDonald's shares were up 0.3% at about $285