McDonald’s Half-Year Report 2024
“We are confident that Accelerating the Arches is the right playbook for our business and as consumers are more discriminating with their spend, we are focused on the outstanding execution of delivering reliable, everyday value and accelerating strategic growth drivers like chicken and loyalty,” said Chairman and CEO Chris Kempczinski.
Highlights
- Global comparable sales decreased 1.0%, reflecting negative comparable sales across all segments:
- U.S. decreased 0.7%
- International Operated Markets segment decreased 1.1%
- International Developmental Licensed Markets segment decreased 1.3%
- Consolidated revenues were flat (increased 1% in constant currencies).
- Systemwide sales decreased 1% (increased 1% in constant currencies).
- Consolidated operating income decreased 6% (5% in constant currencies). Results included $97 million of pre-tax non-cash impairment charges and $57 million of pre-tax restructuring charges associated with Accelerating the Organization. Excluding these current year charges, as well as prior year pre-tax charges of $18 million, consolidated operating income decreased 2% (was flat in constant currencies).**
- Diluted earnings per share was $2.80, a decrease of 11% (10% in constant currencies). Excluding the current year charges described above of $0.17 per share, diluted earnings per share was $2.97, a decrease of 6% (5% in constant currencies) when also excluding prior year charges
