- McDonald’s CEO Chris Kempczinski said the company’s first-quarter global comparable sales and revenue surpassed the numbers in the first quarter of 2019.
- Yum! Brands’ worldwide same-store sales grew 9 percent in the quarter, compared to a 7 percent decline in year-ago period.
The coronavirus outbreak had taken a heavy toll on the sales figures of major U.S. fast-food chains like McDonald’s, KFC, Taco Bell, and Pizza Hut last year.
But these restaurant operators have recovered from that slump, and their sales exceeded the pre-pandemic levels following the gradual lifting of restrictions around the world.
McDonald’s Corporation (NYSE: MCD) and Yum! Brands, Inc. (NYSE: YUM), which owns KFC, Taco Bell and Pizza Hut, have reported strong first-quarter earnings and revenue.
Shares of McDonald’s hit a 52-week high of US$235.71 on Thursday, April 29, after the company published its results. The stock price has increased 25 percent in one year. Yum! Brands’ stock price has also grown 33 percent in one year.
Source: Refinitiv, McDonald's, Yum! Brands share price in one year.
The company reported a 39 percent growth in first quarter net income to US$1.54 billion, or US$2.05 per share. Non-GAAP EPS was US$1.92, compared to US$1.47 in the first quarter of 2020.
McDonald’s revenue during the period came in at US$5.12 billion, up 9 percent from US$4.71 billion in the year-ago period.
Total comparable sales in the quarter grew 7.5 percent, compared to the 3.4 percent declined reported in the same quarter previous year.
Comparable sales in the U.S. increased 13.6 percent while it rose 0.6 percent and 6.4 percent in International Operated unit and International Developmental Licensed unit respectively.
The Illinois-based company’s CEO Chris Kempczinski noted that its global comparable sales and revenue during the first quarter surpassed the numbers in the first quarter of 2019.
Yum! Brands, Inc.
Yum! Brands net income in the first quarter jumped to US$326 million, or US$1.07 per share from US$83 million, or 27 cents per share reported in the year-ago quarter.
Revenue during the three months totaled US$1.59 billion, up 18 percent from US$1.26 in the first quarter of 2020.
Kentucky-based Yum! Brands’ worldwide same-store sales grew 9 percent in the quarter, against 7 percent decline in the previous first quarter.
Pizza Hut recorded 12 percent growth in same-store sales while KFC and Taco bell increased 8 percent and 9 percent, respectively.