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| Bolivian McDonald's (Photo credit: lndhslf72) |
Cost increases nearly mirrored sales, but slightly lagged to allow operating income to advance 8% to $2 billion. This represented a very healthy operating margin above 30% of total sales. Tax expense rose sharply and lowered net income by 5% to $1.3 billion, but share buybacks boosted earnings per diluted share growth back to 7%. Earnings came in at $1.23 per diluted share.
SEE: A Breakdown Of Stock Buybacks
Outlook and Valuation
Analysts project full year sales growth of 5.2% and total revenues of nearly $28.4 billion. Looking at the competitive landscape, Yum! Brands(NYSE:YUM) is projected to report 9.6% top line growth and total sales of nearly $14 billion. Wendy’s (Nasdaq:WEN) will be lucky to log 4% growth and total sales of $2.5 billion. Chipotle (NYSE:CMG), which McDonald’s happened to spin off back in 2006, should grow sales 22% to $2.8 billion. Jack in the Box (Nasdaq:JACK) will log around $2.18 billion in sales, but not grow much during 2012... Continue to read.
Analysts project full year sales growth of 5.2% and total revenues of nearly $28.4 billion. Looking at the competitive landscape, Yum! Brands(NYSE:YUM) is projected to report 9.6% top line growth and total sales of nearly $14 billion. Wendy’s (Nasdaq:WEN) will be lucky to log 4% growth and total sales of $2.5 billion. Chipotle (NYSE:CMG), which McDonald’s happened to spin off back in 2006, should grow sales 22% to $2.8 billion. Jack in the Box (Nasdaq:JACK) will log around $2.18 billion in sales, but not grow much during 2012... Continue to read.
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