Chicago PMI inches up to 57.6 in April from 57.4 in prior month

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McDonald’s shares rise after earnings and sales beat expectations

McDonald’s Corp. shares rose 3.6% in Monday premarket trading after the fast-food giant reported earnings and sales that beat expectations. Net income was $1.38 billion, or $1.72 per share, up from $1.21 billion, or $1.47, for the same period last year. Adjusted EPS was $1.79. Revenue totaled $5.14 billion, down from $5.68 billion last year. The revenue decline was due to the company’s refranchising initiative. The FactSet consensus was for EPS of $1.67 and sales of $4.97 billion. Global same-store sales rose 5.5%, above the FactSet consensus for 3.6% growth. U.S. same-store sales met the FactSet consensus with a 2.9% rise, driven by menu price increases that led to average check growth. McDonald’s shares are down 8% for the year to date, but up 13.1% for the past year. The Dow Jones Industrial Average is up 16.1% for the last 12 months.

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