McDonald's (MCD) Misses Q1 EPS by 6c

McDonald's (NYSE: MCD) reported Q1 EPS of $1.01, $0.06 worse than the analyst estimate of $1.07. Revenue for the quarter came in at $5.96 billion versus the consensus estimate of $6 billion.

*** EPS includes strategic charges totaling $0.17 per share. GAAP EPS came in at $0.84.

*** Excluding currency fluctuation, EPS would have been $1.10.

Global comparable sales decrease of 2.3%, reflecting negative guest traffic in all major segments. In the U.S., first quarter comparable sales decreased 2.6% reflecting negative sales and guest traffic as the segment's product and promotional offers did not overcome the competitive activity. U.S. operating income for the quarter declined 11%, reflecting weak sales results and the impact of restructuring and restaurant closing charges. During the quarter, the U.S. continued to simplify its menu and focus on local menu initiatives to be more responsive to consumers' preferences.

For earnings history and earnings-related data on McDonald's (MCD) click here.

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