Overview
- McDonald’s, which reported Thursday, beat forecasts with adjusted EPS of $2.83 and revenue of about $6.52 billion as global same‑store sales rose 3.8% and U.S. sales grew 3.9% but trailed Wall Street’s target.
- Executives at McDonald’s flagged a tougher spending backdrop as rising gas and grocery prices squeeze lower‑income customers and shift orders toward lower‑priced items instead of full combo meals.
- Shake Shack shares fell about 28% to 30% Thursday after the chain posted a $2.6 million operating loss and break‑even EPS, citing higher beef costs, winter weather and expansion spending; the company kept full‑year revenue guidance of $1.6 billion to $1.7 billion and set EBITDA at $230 million to $245 million.
- Shake Shack appointed Michelle Hook as chief financial officer effective May 11, adding leadership change to a quarter that also saw adjusted EBITDA margins narrow and free cash flow turn negative.
- Restaurant Brands International on Wednesday topped estimates with adjusted EPS of $0.86 and $2.26 billion in revenue, powered by Burger King’s U.S. same‑store sales up about 5.8%, as Popeyes comps fell 6.5% and Tim Hortons grew 1.6% below expectations.