McDonald’s shareholders are lovin’ it in the morning.
The fast food chain, continuing its all-day breakfast-fueled turnaround, on Friday reported an unexpectedly robust 5.4 percent jump in same-store US sales in the first three months of the year.
That’s better than even the optimistic 4.6 percent gain that Wall Street had forecast.
Do you want global improvement with that?
Same-store sales at its 35,000 restaurants around the world were up 6.2 percent in the first quarter over the same period a year ago, the company said.
Chief Executive Steve Easterbrook, who took the helm a little more than a year ago, has made all-day breakfast the cornerstone of his turnaround plan.
McDonald’s sales and overall performance had turned as cool as one of the company’s shakes as millennials and others cut back on fast food and opted for healthier fare.
But US consumers are apparently cuckoo for Egg McMuffins and hotcakes.
The CEO’s plan to return value to the menu through McDonald’s McPick 2 promotion — two items for $5 — has also helped woo customers.
“While there is still work to be done, we are on the right path to make even greater progress,” Easterbrook said in a statement.
“I am confident that our continued efforts will deliver meaningful long-term value for all stakeholders into the future.”
Overall revenue, reflecting currency fluctuations, fell 1 percent in the period, to $5.9 billion.
Net income jumped 35 percent, to $1.1 billion. Last year’s results reflected a $195 million strategic charge.
McDonald’s shares were little changed, closing at $125.50 on Friday, amid a selloff in the broader stock market.
How bad is it for you to binge on McDonald’s? A doctor chimes in after a New York Post employee scarfs down six large fries: