McDonald’s Corporation Beats Earnings, Lockheed Martin Corporation Comes Up Short

McDonald’s Corporation Beats Earnings, Lockheed Martin Corporation Comes Up Short

McDonald’s and Lockheed Martin released their latest earnings reports before opening bell this morning. McDonald’s posted earnings of $1.47 per share on $5.7 billion in revenue, compared to Wall Street’s estimates of $1.34 per share and $5.5 billion in revenue. In last year’s first quarter, the fast food chain posted $5.9 billion in sales and $1.25 per share in earnings.

Lockheed Martin reported earnings of $2.61 per share or $763 million on $11.1 billion in revenue, compared to the analyst estimates of 2.79 per share and $11.2 billion in sales. In last year’s first quarter, the defense contractor reported $2.61 per share or $806 million in earnings and $10.4 billion in revenue. Including discontinued operations, last year’s first quarter earnings were $2.91 per share or $898 million.

McDonald’s shares surge

McDonald's earnings

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McDonald’s said U.S. comparable store sales grew 1.7% as all-day breakfast and Big Mac and drink promotions boosted U.S. revenues. Global comparable sales rose 4% on the back of growth in all segments despite there being one extra day in last year’s first quarter due to leap year. Refranchising drove the 4% decline in consolidated revenues.

Comparable sales in the International Lead segment rose 2.8% year over year, riding on continuing momentum in the U.K., and the all-day breakfast promotion in Canada. High Growth comparable sales rose 3.8% with China leading the growth, while comparable sales in the Foundational Markets & Corporate segment grew 10.7% on the back of strength in Japan and other geographic regions.

McDonald’s shares jumped by as much as 2.47% to $137.72 in premarket trades this morning.

Lockheed Martin cuts earnings guidance

Lockheed Martin said Aeronautics sales grew to $4.1 billion, while Missiles and Fire Control sales ticked higher to $1.5 billion. Rotary and Mission Systems sales rose to $3.1 billion, while Space Systems sales increased to $2.36 billion.

For the full year, Lockheed Martin expects revenue to come in between $49.5 billion and $50.7 billion, an increase from the previous guidance range of $49.4 billion to $50.6 billion. However, the company cut its guidance for full-year earnings to a range of $12.15 to $12.45 per share from the range of $12.25 to $12.55 per share previously.

Shares of Lockheed Martin slumped in premarket trades, falling by as much as 2.94% to $268.08.

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