MCD - 1 Huge Green Flag for McDonald's Stock in 2023
2023-11-04 08:30:00 ET
The latest earnings update for McDonald's (NYSE: MCD) gave investors plenty to chew on. The fast-food giant announced mostly positive results in late October, with comparable-store sales rising at a healthy rate across most of its major markets.
On the downside, consumer spending has slowed in recent months as inflation, rising interest rates, and higher housing costs pressure budgets. But there's also a major positive in the chain's third-quarter operating trends. Let's review that green flag in the context of wider industry challenges.
McDonald's announced solid revenue trends, with comparable-store sales rising 8% in the core U.S. market. That result marked a slowdown compared to the prior quarter's 10% spike. But it kept the company on pace to meet management's 2023 targets despite a shaky spending atmosphere. "The macroeconomic environment is unfolding in line with our expectations for the year," CEO Chris Kempczinski said in a press release.
For further details see:
1 Huge Green Flag for McDonald's Stock in 2023