McDonald’s said Monday that it expects to report quarterly earnings above Wall Street estimates on its strongest quarterly sales in three years.
The world’s largest restaurant chain operator said it expects earnings of 71 cents a share, excluding costs related to the sale of businesses in Latin America.
Analysts, on average, had been expecting earnings of 67 cents a share excluding one-time items, according to Reuters Estimates.
In April, McDonald’s said it would sell about 1,600 restaurants in Latin America and the Caribbean to a franchisee. Including the impact of that sale, the company will post a net loss of 60 cents a share in the second quarter.
Second-quarter sales at restaurants open at least 13 months rose 7.4%, the company said.
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