mcdonald's corp (MCD) Key Developments
McDonald's Corp. Announces Consolidated Earnings Results for First Quarter Ended March 31, 2015; Reports Asset Write-Offs for First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter and Full Year of 2015; Provides Comparable Sales Guidance for the Month of April 2015
Apr 22 15
McDonald's Corp. announced consolidated earnings results for first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $5,958.9 million, operating income of $1,385.5 million, income before provision for income taxes of $1,254.1 million, net income of $811.5 million or $0.84 per diluted share compared to the total revenues of $6,700.3 million, operating income of $1,936 million, income before provision for income taxes of $1,783.3 million, net income of $1,204.8 million or $1.21 per diluted share for the same quarter a year ago. Consolidated operating income decrease of 28% (20% in constant currencies) due to weaker operating performance and $195 million of strategic charges related to restaurant closings and other management actions. In constant currencies and excluding the strategic charges, diluted earnings per share decreased $0.11 or 9%. Excluding $0.26 of items, adjusted EPS for the quarter was $1.10.
For first quarter ended March 31, 2015, the total charge for asset write-offs related to these incremental closings was approximately $72 million.
Based on current exchange rates, the company expects foreign currency translation to negatively impact results by $0.13 to $0.14 in the second quarter of 2015.
Based on current exchange rates, the company expects foreign currency translation to negatively impact results by $0.40 to $0.45 for the full year of 2015.
Looking ahead to April 2015, global comparable sales are expected to be negative.
McDonald's Closes Russian Outlet
Apr 15 15
McDonald's has permanently closed a restaurant for the first time in its 25-year history in Russia. The restaurant, located south of Moscow, was closed after McDonald's and the property's owner failed to agree on rental payments.
McDonald Raises Wage Rates for Employees of the Fast-Food Operations
Apr 3 15
McDonald announced that it is raising wages by $1.00 over local minimum wage rates for employees of the fast-food operations it directly owns is a modest gesture that will boost pay a little for a small number of the hundreds of thousands of men and women who are trying to make a living selling McDonald's food and burnishing McDonald's brand. Even this action would not have happened without the courageous advocacy of fast-food workers around the country who, in their Fight for $15, are raising public awareness of the costs of low wages and raising the stakes for big companies that can, but won't, raise workers' pay.
McDonald's Corporation Announces Board Appointments
Mar 27 15
McDonald's Corporation announced that the company's Board of Directors elected Stephen J. Easterbrook as a Director of the company, effective March 1, 2015. The Board also elected Mr. Easterbrook as Chairman of the Executive Committee of the Board, effective March 1, 2015.
McDonald's Corp. to Report Q1, 2015 Results on Apr 22, 2015
Mar 9 15
McDonald's Corp. announced that they will report Q1, 2015 results at 10:00 AM, Central Standard Time on Apr 22, 2015