McDonald's French Fry Supplier Warns Demand Sputtering, Sends Shares Crashing [zero hedge]
McDonald's Corporation (MCD)
Last mcdonald's corporation earnings: 4/30 06:58 am
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Source: zero hedge
McDonald's French Fry Supplier Warns Demand Sputtering, Sends Shares Crashing A major McDonald's french fry supplier missed its second-quarter earnings and slashed full-year guidance for the second consecutive time this year as demand for frozen potato products sputtered, sending shares in premarket crashing lower. For the quarter that ended Nov. 24, Lamb Weston posted adjusted earnings of 66 cents a share, which missed analyst estimates of $1.02 a share, according to Bloomberg. Challenging macroeconomic conditions in the quarter were blamed on higher-than-expected manufacturing costs and sliding fry demand . Here's a snapshot of 2Q earnings (courtesy of Bloomberg): Adjusted EPS 66c, estimate $1.02 Adjusted Ebitda $281.9 million, estimate $330.2 million North America adjusted Ebitda $266.7 million, estimate $295.2 million Net sales $1.60 billion, estimate $1.67 billion North America net sales $1.07 billion, estimate $1.1 billion International net sales $528.8 million, estimate $568.5
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News
- Time To Focus On Building A Water-Resilient Global Economy [Forbes]Forbes
- With 73% institutional ownership, McDonald's Corporation (NYSE:MCD) is a favorite amongst the big guns [Yahoo! Finance]Yahoo! Finance
- We ranked chicken nuggets from 6 fast-food chains. Taco Bell's new nuggets came out on top. [Business Insider]Business Insider
- KFC's new ‘Saucy' restaurant puts the focus on 11 inventive sauces [Fortune]Fortune
- McDonald's is testing a new store with no dine-in area [Yahoo! Finance]Yahoo! Finance
MCD
Earnings
- 10/29/24 - Beat
MCD
Sec Filings
- 11/26/24 - Form 4
- 11/25/24 - Form 144
- 11/7/24 - Form 10-Q
- MCD's page on the SEC website