McDonald’s is poised to take a bigger financial hit from the war in Ukraine than any other major global restaurant chain, with investors watching on Thursday when it reports first quarter earnings to see how much the company stands to lose.
Average estimates for full-year earnings for McDonald’s Corp. have fallen a little over 3 percent to $9.81 per share since it announced on March 8 that it would suspend operations in Russia following Moscow’s invasion of Ukraine.
McDonald’s previously said the suspension of operations would cost $50 million a month, including lost revenue and continuing to pay leases and wages for its Ukraine and Russia staff—but analysts have warned that figure could rise if the rouble rebounds.
…