Before the opening bell on Friday morning, McDonald’s (MCD ) reported its fourth quarter results, posting lower revenues and earnings compared to last year’s Q4.
MCD's Earnings in Brief
- McDonald’s reported fourth quarter revenues of $6.57 billion, marking a 7% decrease from last year’s Q4 revenues of $7.09 billion. Analysts were expecting revenues of $6.7 billion.
- Net income for the quarter came in at $1.1 billion, or $1.13 per share, down from last year’s Q4 figures of $1.4 billion, or $1.40 per share.
- On an adjusted basis, MCD’s EPS came in at $1.26 per share, beating analysts’ estimates of $1.26.
- McDonald’s reported a 0.9% decrease in global comparable sales.
McDonald’s President and Chief Executive Officer Don Thompson had the following comments: “2014 was a challenging year for McDonald’s around the world. Our results declined as unforeseen events and weak operating performance pressured results in each of our geographic segments. As we begin 2015, we are taking decisive action to regain momentum in sales, guest counts and market share. This involves driving foundational improvements in our major markets and continuing our recovery efforts in markets affected by unusual events. We are accelerating our efforts behind solutions that capitalize on the investments we’re making in our technology and our restaurants to bring McDonald’s Experience of the Future to life for our customers and deliver on our commitment to drive sustained, profitable growth for all stakeholders.”
McDonald’s paid its most recent 85-cent dividend on December 15. We expect the company to declare its next dividend in the coming days.
McDonald’s stock was up 99 cents, or 1.09%, in pre-market trading.