McDonald’s just got some good news, finally

McDonalds Earnings Rise On Value Menu
CHICAGO - OCTOBER 19: Customers eat at a McDonald's restaurant October 19, 2007 in Chicago, Illinois. McDonald's Corp., the world's largest restaurant chain, reported today a 27 percent jump in its third-quarter earnings. (Photo by Scott Olson/Getty Images)
Photograph by Scott Olson—Getty Images

McDonald’s reported its first quarterly increase in U.S. same-restaurant sales in two years Thursday, the Wall Street Journal reported, suggesting the fast-food chain’s turnaround efforts are bearing fruit.

The burger chain’s improvement comes with the recent start of all-day breakfast as well as a newly anointed CEO Steve Easterbrook, who joined the company earlier this year.

Shares of McDonald’s (MCD) surged in early trading.

The Journal noted:

In the U.S. market, McDonald’s same-restaurant sales grew 0.9% in the latest quarter, beating the 0.2% decline analysts had expected, according to Consensus Metrix.

“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,” said CEO Easterbrook in a statement. “As we begin fourth quarter, comparable sales are expected to be positive in all segments.”

He added: “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.”

Notably, however, McDonald’s franchisees haven’t been feeling too optimistic about the chain’s future.

Subscribe to Well Adjusted, our newsletter full of simple strategies to work smarter and live better, from the Fortune Well team. Sign up today.

Read More

Great ResignationInflationSupply ChainsLeadership