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McDonald's | 8-K: McDONALD'S REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS

SEC announcement ·  Feb 5 07:02
Summary by Moomoo AI
On February 5, 2024, McDonald's Corporation reported its financial results for the fourth quarter and the full year ended December 31, 2023. The company announced a global comparable sales growth of 9% for the year, with a significant 30% growth since 2019. McDonald's CEO Chris Kempczinski attributed this performance to the successful execution of their 'Accelerating the Arches' strategy and the resilience of their business model in the face of ongoing macroeconomic challenges. For the fourth quarter, global comparable sales increased by 3.4%, with positive sales across all segments, including a 4.3% increase in the U.S. and a 4.4% increase in International Operated Markets. The company also reported an 8% increase in consolidated revenues and a 6% increase in systemwide sales. Excluding certain charges, the consolidated operating income rose...Show More
On February 5, 2024, McDonald's Corporation reported its financial results for the fourth quarter and the full year ended December 31, 2023. The company announced a global comparable sales growth of 9% for the year, with a significant 30% growth since 2019. McDonald's CEO Chris Kempczinski attributed this performance to the successful execution of their 'Accelerating the Arches' strategy and the resilience of their business model in the face of ongoing macroeconomic challenges. For the fourth quarter, global comparable sales increased by 3.4%, with positive sales across all segments, including a 4.3% increase in the U.S. and a 4.4% increase in International Operated Markets. The company also reported an 8% increase in consolidated revenues and a 6% increase in systemwide sales. Excluding certain charges, the consolidated operating income rose by 14%. Diluted earnings per share for the quarter were $2.80, an 8% increase, and excluding specific charges, it was $2.95, a 14% increase. For the full year, global comparable sales rose by 9.0%, consolidated revenues by 10%, and systemwide sales by 10%. The full-year operating income saw a 24% increase, and diluted earnings per share were $11.56, up by 39%. The report also highlighted over $20 billion in systemwide sales to loyalty members for the full year, marking a growth of over 45% from the previous year. The financial statement included charges related to the write-off of impaired software and restructuring costs associated with the company's growth strategy.

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