Delivery couriers are seen near McDonald’s restaurant in Krakow, Poland, on April 12, 2023.
Jakub Porzycki | Nurphoto | Getty Images
MC Donalds is expected to report its first-quarter results before the bell on Tuesday.
Here’s what Wall Street analysts polled by Refinitiv expect the company to report:
According to StreetAccount estimates, the fast-food giant is expected to see same-store sales growth of 8%. But investors are likely to focus more on what executives have to say about how the current quarter is going.
McDonald’s is often considered to be at the forefront of the broader restaurant industry and consumer spending.
Investors will also be on the lookout for updates on the company’s strategy and recent layoffs. McDonald’s announced in January that it was accelerating the development of new restaurants and reorganizing its corporate structure. The restructuring included hundreds of job cuts earlier this month.
In late January, CEO Chris Kempczinski said the company was forecasting a “mild to moderate” recession in the US and a “deeper and prolonged” downturn in Europe. Fast food chains like McDonald’s tend to fare better than other restaurants in times of economic downturn due to their lower prices.
McDonald’s shares are up 11% this year, giving the company a market value of $214 billion.
This is breaking news. Please check again for updates.
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