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McDonald's Shows Strength

OAK BROOK, IL-Fast-food giant McDonald's Corp. is bucking the current restaurant industry malaise with good numbers.

By Dees Stribling | Updated on April 13, 2005

OAK BROOK, IL-In an industry beset by skittish consumer spending and the specter of ever-increasing commodity prices, the long-standing industry leader, McDonald’s Corp., seems to be making headway in its recent efforts to cure its own malaise. On Wednesday, the company upped its earnings estimates worldwide for the first quarter, and posted strong comps for March.

Comp-store sales for McDonald’s restaurants worldwide increased 6.8% for the month, and 4.6% for the quarter. Global companywide sales for McDonald’s increased 11.2% in March and 8% for the first quarter, compared with the same periods in 2004. In constant currencies, these increases were 8% and 5.7% for the month and quarter, respectively.

The company estimated that it would turn in earnings of $0.56 per share for the quarter, up 40% from a year ago. Even after a tax benefit and expenses from stock-based compensation are removed from its earnings, McDonald’s will post $0.46 per share earnings, beating analysts’ predictions.

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