McDonald’s flexes 4Q expectations beat, surging same-store sales growth

The fast food titan beat expectations across the board

Person handing out a McDonald's order at a drive thru window
New CEO Chris Kempczinski said the comparable sales figure is the company’s best mark in more than a decade

McDonald’s Corp (NYSE:MCD) shares rose Wednesday after the company's fourth-quarter results revealed its highest comparable sales growth in a decade and beat Street expectations.

The company saw earnings of $1.97 per share, unchanged year-over-year, which narrowly topped expectations of $1.96. Revenue came in at $5.35 billion, 4% higher and above Street estimates of $5.31 billion.  

Shares initially climbed in premarket trading but fell back to nearly even at the open, up less than 0.1% to $210.79.

READ: McDonald’s chief executive steps down over relationship with employee

The biggest positive indicator, though, was comparable sales growth, which increased 5.9% from last year, ahead of Wall Street analysts’ call of 5.3%.

CEO Chris Kempczinski, who took over in November after Steve Easterbrook resigned following a relationship with an employee, said the figure is the company’s best mark in more than a decade. 

Prior to his departure, Easterbrook laid the foundation for more modernized stores. Last year, the company bought Apprente, a company utilizing artificial intelligence to understand drive-thru orders and Dynamic Yield, a technology firm focused on personalizing customer interactions, according to a StreetInsider report.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: McDonald's

Price: 184.41 USD

Market: NYSE
Market Cap: $137.12 billion

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