The logo of McDonald’s is seen in Los Angeles, California.
Lucy Nicholson | Reuters
McDonald’s is expected to report its third-quarter earnings before the bell on Wednesday.
Here’s what Wall Street analysts surveyed by LSEG are expecting the company to report:
- Earnings┬аper share: $3.33 expected
- Revenue: $7.1 billion expected
The fast-food giant, often seen as a bellwether for the financial health of consumers, has spent more than a year sounding the alarm about a pullback in spending from low-income diners. But Wall Street is anticipating that McDonald’s will report same-store sales growth for the second straight quarter, showing that its value strategy is winning over customers.
Kicking off the third quarter, McDonald’s Snack Wraps┬аreturned to menus for the first time in nine years. And in September, the chain brought back Extra Value Meals, which it last promoted before the Covid-19 pandemic.
Analysts are projecting that McDonald’s will report global same-store sales growth of 3.5%, according to StreetAccount estimates. Wall Street expects that the burger chain’s international markets will outperform the U.S., where same-store sales are projected to grow 1.9%.
McDonald’s stock has risen just 3% this year, as investor concerns about the restaurant industry and the broader economy have weighed on shares. The company has a market cap of more than $212 billion.
