"Our third quarter performance was strong, and broad-based momentum continued with our 17th consecutive quarter of global comparable sales growth," said McDonald's President and Chief Executive Officer Steve Easterbrook. McDonald's said Monday it gained burger market share in the informal-eating-out category for the first time in five years, thanks in part to its nationwide launch of fresh beef. This press release should be read in conjunction with Exhibit 99.2 in the Company's Form 8-K filing for supplemental information related to the Company's results for the quarter and nine months ended September 30, 2019. Get this delivered to your inbox, and more info about our products and services. McDonald's rival Wendy's has long boasted that its beef patties are never frozen, and it often used that as a way to take a swing at the Chicago-based giant. Market capitalization (or market value) is the most commonly used method of measuring the size of a publicly traded company and is calculated by multiplying the current stock price by the number of shares outstanding. Management reviews the increase or decrease in comparable sales and comparable guest counts compared with the same period in the prior year to assess business trends. Systemwide sales include sales at all restaurants, whether operated by the Company or by franchisees. 2019 ANNUAL REPORT Annual Letter to Stakeholders It is an enormous privilege to lead this great company. Foreign currency translation had a negative impact of $0.03 and $0.19 on diluted earnings per share for the quarter and nine months, respectively. {{data.restaurant.fullAddress}}. There will also be an archived webcast available for a limited time thereafter. A link to the live webcast will be available at, For important news and information regarding McDonald's, including the timing of future investor conferences and earnings calls, visit the Investor Relations section of the Company's Internet home page at, {{data.orderNowJson.accessibleLableforCloseIcon}}, {{data.orderNowJson.primaryPartnersConfig[0].primaryPartnerName}}, {{data.orderNowJson.deliveryFromText}} {{data.restaurant.restaurantName}} {{data.restaurant.fullAddress}}, http://www.prnewswire.com/news-releases/mcdonalds-reports-third-quarter-2019-results-300942558.html. It credits fresh beef for the increase. The burger giant said it sold 40 million more Quarter Pounders during the first quarter of 2019 than a year earlier. While franchised sales are not recorded as revenues by the Company, management believes the information is important in understanding the Company's financial performance, because these sales are the basis on which the Company calculates and records franchised revenues and are indicative of the financial health of the franchisee base. McDonald’s is one of the world’s great brands, but our impact is so much more. CONDENSED CONSOLIDATED STATEMENT OF INCOME (UNAUDITED), Dollars and shares in millions, except per share data, Franchised restaurants-occupancy expenses, Selling, general & administrative expenses, Weighted average shares outstanding-diluted, View original content:http://www.prnewswire.com/news-releases/mcdonalds-reports-third-quarter-2019-results-300942558.html, Investors: Mike Cieplak, investor.relations@us.mcd.com; or Media: Lauren Altmin, lauren.altmin@us.mcd.com. All Rights Reserved. McDonald's Corporation will broadcast its investor earnings conference call live over the Internet at 10:00 a.m. (Central Time) on October 22, 2019. The company is also transitioning to using 100% cage-free eggs by 2025. McDonald's is the world's leading global foodservice retailer with over 38,000 locations in over 100 countries. In total, McDonald's revenue reached 21.08 billion U.S. dollars in 2019. All Rights Reserved. The chain sold 30% more Quarter Pounders in the first year of the nationwide launch, according to the company. Shares of the fast-food chain jumped as much as 2.49% Friday when the company released its … "Globally, our customers are rewarding our commitment of running better restaurants and executing our Velocity Growth Plan by visiting more often. That culture is rooted in a mission to provide delicious food, served with hospitality, to over 65 million customers who honour us with their business every day.". But it looks like the risky decision — and logistical hurdles to speed the turnaround from cow to beef patty — is paying off for the fast-food giant. The chain started using fresh beef for its Quarter Pounder burger in U.S. stores about 13 months ago. {{data.restaurant.restaurantName}} Comparable sales exclude the impact of currency translation and sales from hyper-inflationary markets (currently, only Venezuela). Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Mcdonaldss' competitors and its Market Share by Total, Company Operated Restaurants, … Consolidated revenues increased $61.2 million or 1% (3% in constant currencies) to $5.4 billion. Fresh beef is not available at McDonald's locations in Hawaii, Alaska or U.S. territories. McDonald's is not responsible for the opinions, policies, statements or practices of any other companies, such as those that may be expressed in the web site you are entering. This release contains certain forward-looking statements, which reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. Steve Easterbrook concluded, "As we work to build an even better McDonald's experience for customers by providing convenience on their terms, we continue to embrace the culture of innovation that helped launch our company over 60 years ago. ", Steve Easterbrook concluded, "As we work to build an even better McDonald's experience for customers by providing convenience on their terms, we continue to embrace the culture of innovation that helped launch our company over 60 years ago. CHICAGO, Oct. 22, 2019 /PRNewswire/ -- McDonald's Corporation today announced results for the third quarter ended September 30, 2019. Got a confidential news tip? Steve Easterbrook concluded, "As we work to build an even better McDonald's experience for customers by providing convenience on their terms, we continue to embrace the culture of innovation that helped launch our company over 60 years ago. The Company returned $2.4 billion to shareholders through share repurchases and dividends. Results for 2018 reflected income tax costs associated with adjustments to the provisional amounts recorded in December 2017 under the Tax Act of $47 million, or $0.06 per share, for the quarter and $99 million, or $0.12 per share, for the nine months. *, GAAP diluted earnings per share of $2.11 was relatively flat with the prior year (increased 2% in constant currencies).**. Results for the quarter and nine months in constant currencies reflected stronger operating performance primarily due to an increase in sales-driven franchised margin dollars, partly offset by lower gains on sales of restaurant businesses, mostly in the U.S. McDonald’s says it gained market share for the first time in five years. Management reviews and analyzes business results excluding the effect of foreign currency translation, impairment and other strategic charges and gains, as well as income tax provision adjustments related to the Tax Act, and bases incentive compensation plans on these results, because the Company believes this better represents underlying business trends. McDonald's uses this website as a primary channel for disclosing key information to its investors, some of which may contain material and previously non-public information. McDonald’s (NYSE: MCD) released its full year results on January 30, 2019. As struggles to grow traffic persist across the industry, other restaurant companies like Burger King have decided to go in a different direction: plant-based meats. McDonald's market cap as of November 20, 2020 is $159.52B . Comparable sales are driven by changes in guest counts and average check, which is affected by changes in pricing and product mix. Dollars in millions, except per share data. In addition, the Company announced an 8% increase in its quarterly dividend to $1.25 per share beginning in the third quarter 2019. For important news and information regarding McDonald's, including the timing of future investor conferences and earnings calls, visit the Investor Relations section of the Company's Internet home page at www.investor.mcdonalds.com.