On Monday, we rounded up the quarterly earnings from Wall Street’s biggest firms, and on Wednesday we did the same for Silicon Valley.
For our third instalment this earnings earnings season we’re taking a look at how some of the world’s biggest restaurant chains fared.
The companies on this list are all publicly-traded global fast-food chains based in the United States. This quarter, they have reported revenues ranging from $US211 million to $US6.5 billion.
Some firms crushed expectations and others missed them, but each of these companies brought in millions (or even billions) of dollars of profits in this year.
Scroll through to check out how much your favourite chain restaurant (or coffee shop) made.
Announced on: July 14
Revenue: $US3.11 billion
Net Income: $US235 million
Comment: The owner of Taco Bell, KFC, and Pizza Hut saw sales fall for the fourth straight quarter as the company is still handling a food safety scandal in China. Last July, a news report showed suppliers for KFC and Pizza Hut in China using expired meat, which set of a frenzy in the company's biggest market. Sales in China fell 10% this quarter alone. The company is also struggling to offer healthier choices for increasingly health-conscious Americans.
Announced on: July 16
Revenue: $US488.6 million
Net Income: $US45.9 million
Comment: Domino's beat estimates for both earnings and revenue amid strong international growth. Despite currency headwinds, the company's international same store sales grew 6.7% -- marking the 86th consecutive quarter of growth in that area. Plus Domino's saw domestic same store sales growth of 12.8% and added a net 186 new stores around the globe.
Announced on: July 21
Revenue: $US1.2 billion
Net Income: $US140.2 million
Comment: Chipotle shares reached a new high on Wednesday, the day after the company reported better than expected earnings. The stock initially fell more than 6% on Tuesday night because same store sales growth of 4.3% missed the expected 5.8%. Chipotle also opened 48 new restaurants this quarter.
The strength of our business is the product of our unique food culture and unique people culture, and we constantly find ways to improve, and overcome challenges we encounter -- whether that means non-GMO ingredients, adding new pork suppliers to ensure food with integrity, or reinventing the way tortillas are made at scale,' founder and CEO Steve Ells said in the earnings release.
Announced on: July 22
Revenue: $US529.1 million
Net Income: $US34.7 million
Comment: The Cheesecake Factory, which also operates the Grand Lux Cafe restaurants beat the expected EPS of $US0.62 and slightly missed the expected revenue of $US530 million.
In the earnings conference call, CFO Douglas Ben said that higher wages were coming for workers -- and not just because of wage inflation.
'...(T)he current environment makes staffing more challenging and more difficult in some of the locations that we have and that's part of wage rate pressure,' Benn said. 'It also includes people that work in the restaurant industry today have more choices than they have had in the past, perhaps that's putting pressure on what we think we're having to pay.'
Announced on: July 23
Revenue: $US4.9 billion
Net Income: $US626.7 million
Comment: Starbucks shares reached a new high on Friday after the company announced that it had beat both earnings and revenue estimates.
'Starbucks Q3 fiscal 2015 stands as among the strongest and most remarkable quarters in our over 23 years as a public company,' Chairman and CEO Howard Schultz said in the earnings release. 'The 4% increase in global transactions we reported equates to our having served an additional 23 million customer occasions in Q3 of this year over last year, clearly evidencing a continuation of the strong momentum we have seen across our business and around the world this fiscal year.'
Announced on: July 23
Revenue: $US211.4 million
Net Income: $US48.5 million
Comment: This quarter the company added 154 net new restaurants worldwide, including 93 net new Dunkin' Doughnuts and 61 net new Baskin-Robbins.
'We had excellent overall second quarter results driven by strong comparable store sales growth and net store development for both Dunkin' Doughnuts and Baskin-Robbins in the U.S., as well as a faster-than-expected launch of Dunkin' K-Cup pods into thousands of retailers nationwide,' Chairman and CEO
Nigel Travis said in the earnings release.
Announced on: July 23
Revenue: $US6.5 billion
Net Income: $US1.2 billion
Comment: McDonald's beat consensus expectations for both revenue ($US6.43) and EPS ($US1.23), but Wall Street wasn't pleased with the company's earnings report on Thursday. The world's largest fast-food chain also revealed that global sales at stores open for at least one year fell 0.7%, while US sales fell by 2%.
'To position the business for long-term growth, we've undergone significant organizational change and are streamlining our global resources to improve our efficiency and effectiveness,' President and CEO Steve Easterbrook said in the earnings release. 'While our second quarter results were disappointing, we are seeing early signs of momentum.'
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