McDonald's Reports Fourth Quarter And Full Year 2017 Results And First Quarter 2018 Cash Dividend

OAK BROOK, Ill., Jan. 30, 2018 /PRNewswire/ -- McDonald's Corporation today announced results for the fourth quarter and year ended December 31, 2017.

"2017 was a strong year for McDonald's as customers responded to the many ways we are making their experience more convenient and enjoyable," said McDonald's President and Chief Executive Officer Steve Easterbrook. "We served more customers more often, achieved our best comparable sales performance in six years, gained share in markets around the world and made tremendous progress with growth platforms such as delivery, mobile order and pay and Experience of the Future."

Fourth quarter highlights:

• Global comparable sales increased 5.5%, reflecting positive guest counts in all segments
• Due to the impact of the Company's strategic refranchising initiative, consolidated revenues decreased 11% (15% in constant currencies)
• Systemwide sales increased 8% in constant currencies
• Consolidated operating income increased 9% (6% in constant currencies)
• Diluted earnings per share of $0.87 decreased 40% (42% in constant currencies), reflecting a net tax cost associated with the Tax Cuts and Jobs Act of 2017 ("Tax Act"), which totaled $0.84 per share. Excluding the impact of the Tax Act, diluted earnings per share was $1.71, an increase of 19% (16% in constant currencies)

Full year highlights:

• Global comparable sales increased 5.3%, reflecting positive guest counts in all segments
• Due to the impact of the Company's strategic refranchising initiative, consolidated revenues decreased 7% (8% in constant currencies)
• Systemwide sales increased 7% in constant currencies
• Consolidated operating income increased 23% (23% in constant currencies), which benefited from a gain of approximately $850 million on the sale of the Company's businesses in China and Hong Kong. Excluding the impact of the gain, as well as current and prior year impairment and strategic charges, consolidated operating income increased 9% (9% in constant currencies)
• Diluted earnings per share increased 17% (17% in constant currencies)
• Returned $7.7 billion to shareholders through share repurchases and dividends. In addition, the Company announced a 7% increase in its quarterly dividend to $1.01 beginning in the fourth quarter, demonstrating management's continued confidence in the Company's performance

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