McDonald's to report third quarter earnings as company looks to reaccelerate US sales growth amid value push
McDonald's (MCD) is set to report its third quarter results before the market open on Wednesday. Shares are lagging the broader market as weary consumers and intense value competition weigh on the stock.
Wall Street expects US same-store sales to grow by 2.2% over last year during the quarter, an expected slowdown from the 2.5% growth seen in the prior quarter, according to Bloomberg data. Global same-store sales are expected to rise 3.6% during the quarter after a 3.8% rise in Q2.
Adjusted earnings per share are expected to tally $3.32 on revenue of $7.1 billion.
McDonald's stock is up about 3% this year.
Read more: Live coverage of corporate earnings
During the third quarter, McDonald's announced the return of the Snack Wrap and struck a deal with its US franchisees to lower the cost of some combo meals as fast food companies continue to compete on broader value offerings, with consumer wallets stretched by inflation and a softening labor market.
On its most recent earnings call, McDonald's CFO Ian Borden told investors, "Consumer headwinds are ... certainly [expected] to persist through the remainder of the year." The company did, however, reaffirm its 2025 targets.
"We said up front at the beginning of the year that we thought the back half of the year would be stronger than the front half of the year," Borden said in August. "I think that remains our belief."
Wall Street is optimistic that the company's recent actions turned the tide to win back consumers.
Citi analyst Jon Tower wrote in a note to clients, "Drivers into the fourth quarter and 2026 remain in place for US sales to re-accelerate."
Other catalysts Wall Street is keeping an eye on include the return of the Monopoly game, both digitally and physically, after being sidelined for nearly a decade, alongside the addition of new drinks inspired by McDonald's short-lived CosMc beverage concept.
Brooke DiPalma is a reporter for Yahoo Finance. Follow her on X at @BrookeDiPalma or email her at
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