OAK BROOK Ill. McDonald’s Corp. said third-quarter per-share earnings are expected to be well above Wall Street estimates after the parent of the No. 1 burger chain posted another month of strong same-store sales.
Earnings for the third quarter ended Sept. 30 are projected to be 89 cents a share, including 83 cents from continuing operations and a 6-cents-per-share gain from the company's sale of Boston Market, the company reported on Oct. 12. Analysts' consensus profit estimate was 77 cents per share, according to Thomson Financial. In the year-ago quarter, McDonald's earned 68 cents per share from continuing operations. Full results were expected Oct. 19.
McDonald's cited its value menu, breakfast offerings and beverages as drivers behind a U.S. same-store sales gain of 3.5 percent for September and 5.1 percent for the third quarter. Global same-store sales jumped 5.9 percent in September and 6.9 percent in the third quarter.