McDonalds Corporation (NYSE: MCD) saw its stock gain ground on the company’s presentation of first-quarter figures Tuesday morning.
The burger giant said its global comparable sales increased 5.4%, reflecting strong comparable sales across all segments.
Consolidated revenues decreased 4% (increased 2% in constant currencies), reflecting strong comparable sales, partly offset by the impact of the Company's strategic re-franchising initiative. Revenues came in at $4.955 billion, compared to $5.1 billion in the prior-year quarter.
Systemwide sales increased 6% in constant currencies. Consolidated operating income decreased 2% (increased 3% in constant currencies).
Net income registered at $1.328 billion, compared to $1.375 billion in the prior-year quarter.
Diluted earnings per share of $1.72 was flat with the prior year (increased 5% in constant currencies). The Company returned $1.9 billion to shareholders through share repurchases and dividends.
Results in 2019 included $47 million, or $0.06 per share, of additional income tax costs due to regulations issued in January 2019 related to the Tax Cuts and Jobs Act of 2017. Results in 2018 included $52 million, or $0.07 per share, of additional income tax costs associated with adjustments to the provisional amounts recorded in December 2017 under the Tax Act.
CEO Steve Easterbrook declared, "We started the year strong with our 15th consecutive quarter of positive global comparable sales, reflecting continued broad-based momentum across each of our global segments.
"We remain focused on running better restaurants and elevating the experience for our customers by providing convenience on their terms through delivery, Experience of the Future, and our evolving digital channels."
Shares in MCD took on 32 cents to $197.39
