McDonald's on Tuesday reported mixed quarterly results as same-store sales growth in the U.S. slowed.
The company also announced that Skye Anderson is assuming the role of president of its U.S. business, effective Tuesday, as it tries to boost performance in its home market. She succeeds Joe Erlinger, who led the division for more than six years. Anderson, a 26-year McDonald's veteran, previously served as chief operating officer of McDonald's USA and led its Global Business Services unit before that.
"While our playbook is working around the world, we see an opportunity to raise the bar in the U.S. and accelerate performance in our largest market," McDonald's CEO Chris Kempczinski said in a statement.
Here's what the company reported for its second quarter ended June 30 compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
The burger giant reported second-quarter net income of $2.36 billion, or $3.32 per share, up from $2.25 billion, or $3.14 per share, a year earlier. Excluding restructuring charges and other items, McDonald's earned $3.38 per share.
The company's global same-store sales ticked up 1.3%, meeting Wall Street's expectations, according to StreetAccount estimates.
McDonald's U.S. same-store sales increased 0.8% in the quarter. The chain said that average check rose, but traffic to its domestic restaurants fell.
In early May, the burger chain launched a new drink lineup of refreshers and crafted sodas in its home market. However, it faced tough comparisons with the year-ago period, when it rolled out a global limited-time meal tie-in with the "Minecraft" movie.
McDonald's saw stronger results outside of the U.S. Its international operated markets segment reported same-store sales growth of 1.5%, while its international developmental licensed markets division saw same-store sales rise 1.9%.
In June, the company revealed a new growth strategy at its biennial worldwide convention for franchisees. A new restaurant design, better-tasting food and drinks, consumer-led innovation, and improved customer service are the four cornerstones of the new plan. The chain wants to become diners' first choice, every time.
