McDonald's Corporation (MCD)
NYSE:MCD
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Earnings Data
Report Date
Jul 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
3.35Last Year’s EPS
3.19Same Quarter Last Year
Moderate Buy
Based on 24 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted broad, consistent top-line momentum across McDonald's global system: global comps up 3.8%, U.S. comps up 3.9%, strong international market performance (U.K., Germany, Australia), solid adjusted EPS of $2.83 and robust operating margin (46%). Management emphasized successful value repositioning (new McValue/EDAP menus), scalable marketing partnerships, and early traction from a new beverage platform, while reaffirming full-year targets and development ambitions (~1,000 China openings; ~50,000 restaurants by 2027). Notable operational challenges were acknowledged, including unacceptable U.S. company-operated margins, franchisee profitability pressure from commodity and gas price inflation, a discrete April comp lapse vs a tough prior-year promotion, and market-specific underperformance in France. Despite those headwinds and risks from inflation, supply chain volatility and geopolitical uncertainty, the balance of positive metrics, market share gains, and management confidence in execution led to an overall constructive tone.Company Guidance
Global Sales and Comparable Growth
Global system-wide sales grew 6% in constant currency and global comparable sales increased 3.8%. Management reported market share gains in nearly all of McDonald's top 10 markets.
U.S. Comparable Sales and Strengthening Value Platform
U.S. comparable sales rose 3.9% for the quarter, with positive comparable sales and guest count gaps versus near-end competitors. The relaunch of Extra Value Meals performed well, financial support for EVMs is expected to be below the roughly $35 million initial estimate and concluded at the end of March, and the new McValue EDAP under-$3 menu and $4 breakfast meal deal were rolled out with early indicators in line with expectations.
International Operated Markets Performance
Comparable sales in international operated (IOM) markets grew 3.9%, led by the U.K., Germany and Australia which delivered mid- to high-single-digit comparable sales growth and continued market share gains. Examples include the U.K.'s Meal Deal Plus (GBP 5.59) which drove higher incrementality and Germany's strong McSmart platform performance.
China Development Momentum
McDonald's maintained share in China and remains on track to open approximately 1,000 new restaurants in China this year, underscoring continued long-term development commitment in a strategic market.
Solid Earnings, Margins and Cash Generation
Adjusted EPS was $2.83 (including a $0.13 benefit from foreign currency), representing a ~1% increase on a constant currency basis. The company generated more than $3.6 billion in restaurant margins during the quarter and reported an adjusted operating margin of 46%. Management reaffirmed full-year 2026 financial targets and expects a FY FX tailwind to EPS in the range of $0.20–$0.30 based on current rates.
Beverage Platform and Menu Innovation Traction
New beverage platforms tested successfully in Australia and launched in Germany and the U.S. (nationwide U.S. rollout of three refreshers and three crafted sodas under McCafé). Early soft-launch results were encouraging and the company plans to introduce additional flavors and Red Bull-infused energy drinks later in the year.
Marketing and Cultural Partnerships Driving Traffic
Scaled, culturally relevant marketing (Friends campaign, Super Mario Happy Meal partnership, KPop Demon Hunters, prior Minecraft promotions) continued to drive traffic, engagement and the ability to scale local insights globally. FIFA World Cup sponsorship and related activations expected to be a positive summer marketing tailwind, especially with the tournament in North America.
Development Pipeline and Scale
Management reiterated confidence in restaurant growth, targeting roughly 50,000 restaurants by end of 2027 and highlighting the system's capital availability and development opportunity, particularly in IDL markets that already contribute the majority of openings.
MCD Earnings History
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
MCD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $284.10 | $283.70 | -0.14% |
Feb 11, 2026 | $321.41 | $330.24 | +2.74% |
Nov 05, 2025 | $295.77 | $302.16 | +2.16% |
Aug 07, 2025 | $302.41 | $302.65 | +0.08% |
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.
FAQ
When does McDonald's Corporation (MCD) report earnings?
McDonald's Corporation (MCD) is schdueled to report earning on Jul 29, 2026, Before Open (Confirmed).
What is McDonald's Corporation (MCD) earnings time?
McDonald's Corporation (MCD) earnings time is at Jul 29, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MCD EPS forecast?
MCD EPS forecast for the fiscal quarter 2026 (Q2) is 3.35.
