McDonald’s Corporation (NYSE:MCD) shares are trading lower after the company reported third-quarter adjusted earnings per share of $3.23, beating the analyst consensus estimate of $3.20.
Quarterly sales of $6.90 billion beat the analyst consensus view of $6.82 billion. Revenues increased 3% (2% in constant currencies) over the prior year.
Quarterly sales of $6.90 billion beat the analyst consensus view of $6.82 billion. Revenues increased 3% (2% in constant currencies) over the prior year.
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NewsTranscript
00:00McDonald's reported an EPS of $3.23. That beat the $3.20 estimate. Sales came in at 6.9 billion,
00:08beat the $6.8 billion estimate. Reports global comparable sales decreased 1.5% in Q3.
00:18Reported, let's see, so consensus but falls short on comp expectations. So you had the double beat,
00:25but then some, you know, kind of not so great sales numbers there, bringing the stock lower.
00:30And maybe the bar was just set a little bit high because we've talked about
00:33how McDonald's is best of breed in this fast food class. So to see them, you know,
00:38beat but not by that much, maybe just a little bit disappointing. Stock is down $7 or 2.3% this
00:45morning. Obviously, you know, it seems like they're getting past it. They're bringing the
00:50quarter pounder meal or quarter pounder back on the menu as of yesterday. So it sounds like they're
00:56past this. If they mentioned on the conference call, that could be a pop off that and say,
01:00yeah, we've got this beat. So just careful. I would say careful ahead of the call. I don't
01:05know when the call starts. You said it starts right now? It starts in a few minutes?
01:098 a.m. or 8.30 a.m. So yeah.
01:118.30. So it starts in two minutes. So I would imagine, like, it sounds like the rating is on
01:16the wall and they're probably going to say something, you know, maybe they're past it
01:19or something. If they say something like that, I'd expect to start to get a pop
01:22because the algos will buy on that. So just careful if you're shortness in the hole.
01:28A boom, boom, traded down $7 here. You're making a new low of the move. So the bulls
01:36absolutely have to make it stand here at $2.90. There are a couple of daily lows in this area.
01:42You lose $2.90. I mean, there's areas of support in the $2.80 handle, but very important.