McDonald's Reports Second Quarter 2018 Results and Quarterly Cash Dividend
CHICAGO, July 26, 2018 /PRNewswire/ -- McDonald's Corporation today announced results for the second quarter ended June 30, 2018.
"We're seeing good performance across our business as our customers tell us that they value and appreciate the moves we're making to elevate the McDonald's experience," said McDonald's President and Chief Executive Officer Steve Easterbrook. "We're pleased with the results of our international business and the progress we're making in the U.S. on executing on our Velocity Growth Plan priorities. We've now marked 12 consecutive quarters of positive comparable sales, and we are confident that we're executing the right strategy to achieve long-term, profitable growth."
Second quarter highlights:
- Global comparable sales increased 4.0%, reflecting positive comparable sales in all segments
- Due to the impact of the Company's strategic refranchising initiative, consolidated revenues decreased 12% (14% in constant currencies)
- Systemwide sales increased 5% in constant currencies
- Consolidated operating income decreased 1% (4% in constant currencies), primarily due to $92 million of strategic restructuring charges ($85 million related to the previously disclosed restructuring charge for the U.S. business). Excluding these charges, as well as unrelated strategic charges in the prior year, consolidated operating income increased 2% (decreased 1% in constant currencies)
- Diluted earnings per share of $1.90 increased 12% (9% in constant currencies), reflecting $0.09 per share of strategic restructuring charges. Excluding these charges, diluted earnings per share was $1.99, an increase of 15% (12% in constant currencies) over prior year earnings per share (excluding $0.03 per share of prior year strategic charges)
- Returned $2.5 billion to shareholders through share repurchases and dividends
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