<p>McDonald’s (NYSE: MCD) earnings for the first quarter of 2020, MCD shares fell lower on Thursday. This comes after reporting a diluted earnings per share (EPS) of $ 1.47. That’s below the Wall Street estimate of $ 1.57 per share. Despite this, the fast food company’s revenue of $ 4.71 billion is better than analysts’ estimates of $ 4.65 billion.
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Let’s check out some additional details from the latest McDonald’s earnings report below.
Earnings after dilution per share decreased by 15% from $ 1.72 during the same period last year. Revenue for the quarter was 6% lower than $ 5.02 billion reported in the first quarter of 2019. Operating profit of $ 1.69 billion is a decrease of 19% compared to the same period last year from $ 2.09 billion. McDonald’s revenue report also includes net income of $ 1.11 billion. This is a decrease of 17% compared to its net income of $ 1.33 billion in the same period last year.
Chris Kempczinski, President and CEO of McDonald’s, said this about the Q1 result:
“After our strong development in 2019, McDonald’s 2020 began with exceptional global momentum and our sales in January and February reflected that trend. Since then, the global crisis caused by the COVID-19 pandemic has disrupted our operations significantly and we continue to operate in a very challenging and unpredictable environment. ”
McDonald’s earnings report contains no prospects for 2020. It makes sense with the current chaos caused by the new coronavirus. Many other companies are also holding back 2020 guidelines because of this.
The MCD share fell about 1% from Thursday afternoon.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/04/mcdonalds-earnings-miss-hits-mcd-stock/.
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