McDonald's Delivers Fourth Quarter And Full Year 2016 Results
OAK BROOK, Ill., Jan. 23, 2017 /PRNewswire/ -- McDonald's Corporation today announced results for the fourth quarter and year ended December 31, 2016.
"Throughout 2016, we worked diligently to lay the groundwork for our long-term future. We focused on driving changes in our menu, restaurants and technology to deliver an enhanced McDonald's experience for our customers around the world," said McDonald's President and Chief Executive Officer Steve Easterbrook. "We applied the necessary rigour and discipline to strengthen the Company and our financial performance. Our efforts yielded a more streamlined and focused organisation that generated solid fourth quarter and full year results, including our strongest annual global comparable sales growth since 2011 along with record franchisee cash flows in many of our major markets. I am confident that we're on the right path as we pursue our goal of being recognised by our customers as the modern, progressive burger company."
Fourth quarter highlights:
- Global comparable sales increased 2.7%, including positive comparable sales in the International Lead, High Growth and Foundational segments
- Consolidated revenues decreased 5% (3% in constant currencies), due to the impact of refranchising
- Consolidated operating income increased 5% (7% in constant currencies)
- Diluted earnings per share of $1.44 increased 10% (12% in constant currencies)
Full year highlights:
- Global comparable sales increased 3.8%, including positive comparable sales across all segments
- Consolidated revenues decreased 3% (flat in constant currencies), due to the impact of refranchising
- Consolidated operating income increased 8% (11% in constant currencies)
- Diluted earnings per share of $5.44 increased 13% (16% in constant currencies)
- Returned $2.2 billion to shareholders through share repurchases and dividends in the fourth quarter and $14.2 billion for the full year, marking the successful achievement of the Company's targeted return of $30 billion for the three-year period ending 2016. In addition, the Company announced a 6% increase in its dividend beginning in the fourth quarter.
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