McDonald’s Corp. (NYSE: MCD) reported third-quarter 2015 results before markets opened Thursday. The fast-food restaurant chain posted diluted earnings per share (EPS) of $1.40 on revenues of $6.62 billion. In the same period a year ago, the company reported EPS of $1.09 on revenues of $6.99 billion. Third-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $1.28 and $6.41 billion in revenues.

U.S. same-store sales rose 0.9% year over year in the third quarter, the first comparable-store sales increase in two years. McDonald’s essentially attributed the gain to menu changes. Operating income in the United States fell 1% reflecting higher wages.

Comparable sales for the International Lead Markets segment increased 4.6% for the third quarter, led by strong performance in Australia, the United Kingdom and Canada, as well as positive results in Germany. Third-quarter operating income decreased 11% (increased 5% in constant currencies).

In the High Growth Markets segment, third-quarter comparable sales increased 8.9%, reflecting very strong comparable sales performance in China and positive performance in most other markets. Operating income increased 39% (68% in constant currencies). Emphasis on value and breakfast during the quarter contributed to China’s sales recovery.

Globally, same-store sales in the third quarter rose 4% and consolidated operating income was down 2% (up 10% on constant currency basis.

CEO Steve Easterbrook said:

I am encouraged by our operating performance for the quarter, with positive comparable sales across all segments, including the U.S., as well as sales recovery in China following the prior year supplier issue. … Third quarter marked an important step in the Company’s global turnaround – the reorganization of our business from a geographically focused structure to business segments that combine markets with similar characteristics and opportunities for growth. As we begin fourth quarter, comparable sales are expected to be positive in all segments. While still in the early stages, we believe our turnaround plan is starting to generate the change needed to reposition McDonald’s as a modern, progressive burger company.

The consensus estimates for the fourth quarter call for EPS of $1.17 on revenues of $6.12 billion. The current full-year 2015 forecast calls for EPS of $4.70 on revenues of $24.1 billion.

McDonald’s shares a hit a new 52-week high $110.88 Thursday morning. The previous 52-week range was $87.50 to $105.20. Thomson Reuters had a consensus analyst price target of $104.57 before the report.

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