MC Donalds second quarter earnings again below analysts' expectations.

Q2/24

McDonald's Corp. released its second-quarter results earlier today.

• Both earnings per share ($2.97 vs. $3.07) and sales ($6.49 billion vs. $6.61 billion) were lower than what analysts estimated.

• Comparable sales (this refers to sales from restaurants open at least 13 months) experienced a 1% contraction while growth of 0.4% was assumed. The decline was unexpected and is the first since the fourth quarter of 2020.

• The lower number of restaurant visits is to blame, despite the fact that menu prices were raised.

• Internationally, comparable sales fell more than 1%. Latin America and Japan had positive growth rates but weak Chinese sales and the continuing negative impact of the war in the Middle East are the culprits.

• The share price fell 15% since the beginning of the year.

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