McDonald’s boosts first quarter profit outlook

McDonald’s Corp., the nation’s biggest fast-food restaurant chain, said Wednesday that it expects to report a first-quarter profit above Wall Street estimates.

The company expects to post profit of 56 cents per share, up 40 percent from a year ago. Excluding a tax benefit and expenses from stock-based compensation, McDonald’s said earnings will be 46 cents per share. On that basis, the results surpass the average analyst estimate for profit of 42 cents per share from a Thomson Financial survey.

McDonald’s said global same-store sales, which include only restaurants that have been open at least a year, rose 6.8 percent in March and 4.6 percent for the January-March period. U.S. same-stores sales rose 6.8 percent in March and 5.2 percent for the quarter.

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Europe sales rose 6.6 percent for the month and 2.9 percent for the quarter. In other regions, Japan, Australia and Taiwan all posted strong sales results, McDonald’s said.

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Total sales increased 8 percent for the quarter compared with a year ago. Analysts are looking for sales to grow about 6 percent to $4.68 billion for the quarter.

Excluding exchange rate effects, sales would have risen a more modest 6 percent, McDonald’s said. So far this year, McDonald’s same-store sales are up 4.6 percent from the same period of 2004.