The earnings call reflected a mixed performance with strong U.S. comp sales and successful marketing initiatives, particularly the $5 Meal Deal, but was overshadowed by the E. Coli incident and challenges in international markets, leading to negative global comp sales.

Company Guidance

During the Q3 2024 earnings call, McDonald's executives discussed several key metrics and strategic initiatives to navigate the challenging quick-service restaurant (QSR) sector environment. Despite a difficult industry backdrop, U.S. comparable sales were positive, outperforming the QSR industry in comp sales and guest counts, with the highest comp guest count gap since Q1 2023. The $5 Meal Deal played a crucial role in improving brand perceptions and increasing traffic among low-income consumers, maintaining an average check above $10. Internationally, comp sales were negative, reflecting industry contraction, notably in France and the U.K. However, signs of progress included traffic share gains in the U.K. and Germany, with initiatives like the 3 for GBP 3 menu and the Big Arch pilot supporting these improvements. McDonald's system-wide sales to loyalty members reached nearly $8 billion, aligning with their goal of 250 million active users by 2027. The company reaffirmed its 2024 financial outlook, highlighting a 6% dividend increase and a commitment to maintaining strong margins and shareholder returns.

U.S. Comp Sales Outperformance

U.S. comp sales were positive for Q3, driven by compelling value, menu excitement, and strong marketing, outperforming the QSR industry comp sales and comp guest counts.

$5 Meal Deal Success

The $5 Meal Deal improved brand perceptions, connected with lower-income consumers, and drove guest counts, maintaining an average check north of $10.

Digital Sales and Loyalty Growth

System-wide sales to loyalty members totaled nearly $8 billion globally, with a target to reach 250 million active users by the end of 2027.

Dividend Increase

The Board approved a 6% dividend increase, marking the 48th consecutive increase, reinforcing confidence in long-term growth strategy.

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McDonald's (GB:0R16) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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GB:0R16 Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 26, 2018	2018 (Q2)	- / 1.99	1.7	17.06% (+0.29)	―	―
Oct 23, 2018	2018 (Q3)	- / 2.10	1.76	19.32% (+0.34)	―	―
Jan 30, 2019	2018 (Q4)	- / 1.97	1.71	15.20% (+0.26)	―	―
Apr 30, 2019	2019 (Q1)	- / 1.72	1.79	-3.91% (-0.07)	―	―
Jul 26, 2019	2019 (Q2)	- / 2.05	1.99	3.02% (+0.06)	―	―
Oct 22, 2019	2019 (Q3)	- / 2.11	2.1	0.48% (<+0.01)	―	―
Jan 29, 2020	2019 (Q4)	- / 1.97	1.97	0.00% (0.00)	―	―
Apr 30, 2020	2020 (Q1)	- / 1.47	1.72	-14.53% (-0.25)	―	―
Jul 28, 2020	2020 (Q2)	- / 0.66	2.05	-67.80% (-1.39)	―	―
Nov 09, 2020	2020 (Q3)	- / 2.22	2.11	5.21% (+0.11)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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GB:0R16 Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 29, 2024	$295.18	$294.69	-0.17%
Jul 29, 2024	$254.62	$258.82	+1.65%
Apr 30, 2024	$268.20	$267.21	-0.37%
Feb 05, 2024	$287.42	$278.88	-2.97%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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