McDonald’s stock reaches all-time high record

McDonald’s stock reaches all-time high record

McDonald’s has reported on Friday that its same-store sales growth has topped the set estimate. The company’s promotions and store upgrades payoff for its U.S. business. The company’s shares had hit an all-time high of $218.15 in morning trading before going down. The company’s stock worth is more than $165 billion.

This value is up 20% so far for this year. The company’s reported prices along with what Wall Street had expected are as follow:

  • Earnings per share: $2.05, adjusted, vs. $2.05 expected
  • Revenue: $5.34 billion vs. $5.33 billion expected
  • Global same-store sales growth: 6.5% vs. 5.1% expected

The company had reported fiscal second-quarter net income of $1.52 billion which accounts for $1.97 per share. The values last year were $1.50 billion which accounted $1.90 per share. However, the net sales of the quarter were flat. The company had estimations of $5.33 billion in revenues, but the value had exceeded to $5.34 billion. U.S. same-store sales grew by 5.7%, well above analysts’ expectations of 4.5%.

McDonald’s had also increase same-store sales as the company had attributed the increase in growth thanks to successful deals like 2 for $5 Mix and Match promotion. The success could also be attributed to the positive impact from its tech-focused store renovations. The company’s core menu items, like Big Macs and Quarter Pounders, had continued to do well in the U.S. market. The Happy Meal business had also grown thanks to a renewing partnership with Disney.

McDonald’s has no plan to stop here as it will spend about $1billion in 2019 to modernize the American stores. They will implement self-order kiosks and other innovative upgrades as well to increase the tech-focused renovations. The company had set goals for renovating 2,000 restaurants this year and they are halfway of achieving that goal.

Staff writer for the Chicago Morning Star

Related Posts
Illinois construction employment numbers surges by 4,000 in April — largest growth in the nation: AGC
Illinois construction employment has largely recovered from the pandemic, with a significant surge in hiring
The Biden administration proposes far-reaching tax overhaul
President Biden recently announced his $1.8 trillion American Families Plan (AFP), the third step in his
Worst Cyberattack on Fuel Pipeline in US History Causes Long Lines at Gas Pumps
News Highlights of the Aftermath of the Colonial Pipeline Company Cyberattack The Colonial Pipeline transports
Construction employment stalls in April: Supply-chain challenges and workforce shortages undermine recovery
Construction employment was unchanged from March to April as nonresidential contractors and homebuilders alike struggled
Facebook Oversight Board Upholds Ban on Donald Trump
Facebook’s oversight board on Wednesday, May 5, 2021 decided to uphold the company’s indefinite suspension
FOP President Dan Hils Slams The View’s Joy Behar Comments After Columbus, Ohio Police-Involved Shooting
Sergeant Dan Hils, president of Cincinnati Fraternal Order of Police, discusses the officer-involved shooting in
Blue Angels at the SUN n’ FUN Air Show, Lakeland, Florida; First F/A-18 Super Hornet Air Show
SUN n’ FUN Aerospace Expo in Lakeland, Florida Blue Angels first F/A-18 Super Hornet appearance
Manufacturing Survey Results Showing Positive Trending
The RAEDC has released the follow-up survey in March 2021 to manufacturers which will allow
Elgin Industries earns John Deere’s highest supplier rating for ninth consecutive year
Elgin Industries, a leading U.S.-based manufacturer of engine and chassis components for the original equipment
HACIA announces Jacqueline Gomez as its new executive director
The Hispanic American Construction Association (HACIA) says that Jacqueline Gomez, a seasoned leader and expert in