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 per share: $3.33 expectedRevenue: $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 returned 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.
