French fries from McDonald’s
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MC Donalds is expected to report its first-quarter results on Tuesday before the bell.
This is what the Wall Street analysts surveyed by LSEG expect:
- Earnings per share: Expected $2.72
- Revenue: Expected to be $6.16 billion
The fast food giant reported disappointing fourth-quarter sales. Boycotts after the Israeli licensee offered discounts for soldiers put pressure on sales in the Middle East and some markets outside the region. The company also had to temporarily close some locations to ensure employee safety from protests.
Earlier this month, McDonald’s announced it would buy its Israeli franchisee’s 225 restaurants.
In the US, the burger chain has observed that low-income customers have reduced their spending. Wall Street expects that trend to continue this quarter, forecasting domestic same-store sales growth of just 2.6%, according to StreetAccount estimates.
McDonald’s shares have fallen 7.7% since the beginning of the year, sending its market value down to $197 billion.
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2024-04-30 04:01:01
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