In a release dated October 27th McDonald’s Corporation reported results for the 3rd quarter ended September 30th 2022. For the period, the Company earned $1,982 million on total revenue of $5,872 million with a diluted EPS of $2.68.  Comparable figures for Q3 of fiscal 2021 were net income of $2,150 million on total revenue of $6,201 million with a diluted EPS of $2.86. Revenue declined by 5.3 percent and operating margin fell from 48.2 percent in Q3 2021 to 47.1 percent for the most recent quarter.

In commenting on results, Chris Kempczinski, president and CEO stated, “Our third quarter 2022 performance demonstrated broad-based business momentum as global comparable sales increased nearly 10 percent. I remain confident in our Accelerating the Arches strategy as our teams around the world continue to execute at a high level,” He added, “As the macroeconomic landscape continues to evolve and uncertainties persist, we are operating from a position of competitive strength. I also want to thank our franchisees, who have done a tremendous job navigating this environment, while providing great value to our customers.”

For the 3rd quarter of 2022, McDonald’s posted comparable sales growth for the U.S. of 6.1 percent compared to sales growth for the international operated markets segment of 8.5 percent and with global sales growth of 9.7 percent.

Projections for 2022 in the SEC 8K report included net restaurant expansion of 1.5 percent with an operating margin of 40 percent. On June 30th 2022 McDonald’s had 37,664 franchised locations and operated 2,032 Company-owned restaurants.

McDonald’s Corporation had a market capitalization of $206,900 million on November 1st 2022.  Total assets on June 30th 2022 amounted to $49,247 million of which 31.5 percent comprised lease right-of-use assets, goodwill and intangibles.  Long-term debt and lease obligation were $47,917 million. MCD has fluctuated over a 52-week range of $217.68 to $274.81 with a 50-day moving average of $250.76. MCD trades with a forward P/E ratio of 26.6.  The 12-month trailing operating margin was 37.4 percent and profit margin 25.4 percent.  Prior to release MCD closed on October 26th at $256.73 but opened higher post-release on Thursday 27th closing up 3.5 percent to $265.96.