Mcdonalds Corp (MCD) 10K Annual Reports & 10Q SEC Filings


FOR IMMEDIATE RELEASE			FOR MORE INFORMATION CONTACT:
2/5/2024			Investors: Mike Cieplak, investor.relations@us.mcd.com
			Media: Lauren Altmin, lauren.altmin@us.mcd.com

McDONALD'S REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS

•Global comparable sales have grown 9% for the year and over 30% since 2019

•Systemwide sales* to loyalty members were over $20 billion for the full year and over $6 billion for the quarter across 50 loyalty markets, with full year growth of more than 45% over prior year

CHICAGO, IL - McDonald's Corporation today announced results for the fourth quarter and year ended December 31, 2023.

“Our global comparable sales growth of 9% for the year is a testament to the tremendous dedication of the entire McDonald’s System," said McDonald's President and CEO Chris Kempczinski. "Strong execution of our Accelerating the Arches strategy has driven over 30% comparable sales growth since 2019 as our talented crew members, and the industry’s best franchisees and suppliers have demonstrated proven agility with a relentless focus on the customer. By evolving the way we work across the System, we remain confident in the resilience of our business amid macro challenges that will persist in 2024."

Fourth quarter financial performance:

•Global comparable sales increased 3.4%, reflecting positive comparable sales across all segments:

•U.S. increased 4.3%

•International Operated Markets segment increased 4.4%

•International Developmental Licensed Markets segment increased 0.7%, reflecting the impact of the war in the Middle East

•Consolidated revenues increased 8% (6% in constant currencies).

•Systemwide sales increased 6% (5% in constant currencies).

•Consolidated operating income increased 8% (6% in constant currencies). Results included $72 million of pre-tax charges related to the write-off of impaired software no longer in use and $66 million of pre-tax charges related to the Company's Accelerating the Arches growth strategy, including restructuring costs associated with Accelerating the Organization. Excluding these charges, consolidated operating income increased 14% (11% in constant currencies).**

•Diluted earnings per share was $2.80, an increase of 8% (5% in constant currencies). Excluding the charges described above of $0.15 per share, diluted earnings per share was $2.95, an increase of 14% (11% in constant currencies).**

Full year financial performance:

•Global comparable sales increased 9.0%, reflecting strong comparable sales across all segments:

•U.S. increased 8.7%

•International Operated Markets segment increased 9.2%

•International Developmental Licensed Markets segment increased 9.4%

•Consolidated revenues increased 10% (10% in constant currencies).

•Systemwide sales increased 10% (10% in constant currencies).

•Consolidated operating income increased 24% (24% in constant currencies). Results included $290 million of pre-tax charges related to the Company's Accelerating the Arches growth strategy, including restructuring costs associated with Accelerating the Organization and $72 million of pre-tax charges related to the write-off of impaired software no longer in use. Excluding

The following information was filed by Mcdonalds Corp (MCD) on Monday, February 5, 2024 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Mcdonalds Corp provided additional information to their SEC Filing as exhibits

Exhibit 21: Subsidiaries Of The Registrant

Exhibit 23: Consent Of Independent Registered Public Accounting Firm

Exhibit 24: Power Of Attorney

Exhibit 31.1: Section 302 Certification Of Ceo

Exhibit 31.2: Section 302 Certification Of Cfo

Exhibit 32.1: Section 906 Certification Of Ceo

Exhibit 32.2: Section 906 Certification Of Cfo

Exhibit 97: Policy On Recoupment Of Incentive Compensation

Exhibit 99.1: Computation Of Ratios

Ticker: MCD
CIK: 63908
Form Type: 10-K Annual Report
Accession Number: 0000063908-24-000072
Submitted to the SEC: Thu Feb 22 2024 12:31:15 PM EST
Accepted by the SEC: Thu Feb 22 2024
Period: Sunday, December 31, 2023
Industry: Retail Eating Places