McDonald’s has reported a net income of $2.02bn for the fourth quarter (Q4) of 2024 – a 1% decrease on a constant currency basis from the same period of the previous year.
Total revenues in Q4, ended 31 December 2024, stood at $6.38bn as compared to $6.40bn in Q4 2023.
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EPS (earnings per share) diluted for the quarter was $2.80, remaining unchanged from Q4 2023.
Operating income during the quarter saw a 2% year-on-year (YoY) rise to $2.87bn.
In the fourth quarter of 2024, global comparable sales grew 0.4%. Sales in the US decreased by 1.4%, while the international operated markets segment saw a slight increase of 0.1%, reflecting positive comparable sales in most markets, partly offset by negative comparable sales in some, led by the UK.
The international developmental licensed markets segment grew 4.1%, led by Japan and the Middle East.
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By GlobalDataUS comparable sales declined due to cautious consumer spending and an E coli outbreak in October 2024, as reported by Reuters.
This was the steepest decline since the Covid-19 pandemic almost five years previously, during which restaurants restricted operations to drive-through and delivery.
The fast-food chain extended its $5 meal deal, first rolled out in June 2024, until December. It also launched the Chicken Big Mac in October along with other special items.
But customer visits to its US stores weakened following the E coli outbreak that compelled the chain to temporarily halt sales of its Quarter Pounders in a fifth of the country’s 14,000 outlets.
Net income for the full year 2024 declined 3% to $8.22bn compared to the previous year.
EPS-diluted was $11.39 in 2024 as against $11.56 in 2023.
Total revenues for 2024 dropped 2% to $25.9bn and operating income grew 1% to $11.7bn.
For the full year 2024, global comparable sales fell 0.1%. Sales in the US grew 0.2%, while the international operated markets segment saw a decrease of 0.2% and the international developmental licensed markets segment experienced a decrease of 0.3%.
The fast-food giant reported more than 175 million active users across 60 loyalty markets as of year-end, with growth of approximately 15% on the previous year.
McDonald’s chairman and CEO Chris Kempczinski said: “Accelerating the Arches continues to be the right strategy as we focus on growing market share.
“We’re playing to win, focusing on our customers with outstanding value, exciting menu innovation and culturally relevant marketing.”
In early February 2024, McDonald’s announced plans to establish its first Global Capability Centre (GCC) in Hyderabad, Telangana, India. It will concentrate on solutions in business, technology, analytics and artificial intelligence for customers around the world.
