McDonald's Reports Second Quarter 2020 Results
CHICAGO, July 28, 2020 /PRNewswire/ -- McDonald's Corporation today announced results for the second quarter ended June 30, 2020.
"Throughout our history, McDonald's has demonstrated the strategic foresight necessary to position our business for the future. Our strong drive-thru presence and the investments we've made in delivery and digital over the past few years have served us well through these uncertain times. We saw continued improvement in our results throughout the second quarter as markets reopened around the world," said McDonald's President and Chief Executive Officer Chris Kempczinski. "I'm especially proud of the way the McDonald's System continues to provide a safe environment for both customers and crew, building on our 65 year legacy as a responsible and reliable choice for safe food. We're confident that the strong foundation we've built, combined with the unique advantages of our System, position us well to continue operating successfully during this pandemic and emerge even stronger."
Second quarter operational update and financial performance:
- As of June 30, 2020, nearly all McDonald's restaurants around the world were open to serve customers.
- Global comparable sales declined 23.9%. The U.S., International Operated Markets segment and global monthly comparable sales sequentially improved throughout the second quarter.
- Consolidated revenues decreased 30% (29% in constant currencies).
- Systemwide sales decreased 24% (23% in constant currencies).
- Diluted earnings per share was $0.65.
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