Jim Cramer Blog

McDonald's Corp. said Monday it expects to post its second quarterly loss in more than 50 years because of a hefty one-time charge on the sale of some Latin American operations.
But the world's biggest fast food restaurant chain said its business is growing because of momentum from its popular breakfast menu.

McDonald's said it expects to report a net loss of 60 cents per share when it releases second-quarter earnings July 24.
But excluding a $1.31-per-share charge for the sale in Latin America, McDonald's said it likely would surpass Wall Street forecasts and earn 71 cents per share from continuing operations for the quarter ending June 30. That's a 27 percent increase from the 56-cents-per-share profit it posted in 2006.
Analysts surveyed by Thomson Financial said they expect McDonald's to earn 68 cents per share on revenue of $5.8 billion in the second quarter. Those estimates typically exclude one-time charges.
The company posted a net profit of 67 cents per share during the second quarter last year.

Labels: MCD, McDonald's Corp.