McDonald's reported third-quarter diluted earnings per share of $3.51, up 10%, while revenues rose 1% and operating income rose 7%.
MCD · Mcdonalds Corp
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McDonald's said third-quarter global comparable sales grew 1.5%, while U.S. comparable sales turned positive in September. An entry-level value test spans about 1,900 restaurants, with a national launch targeted for early 2027.
McDonald’s reported global Systemwide sales increased 4% and diluted earnings per share rose 10% to $3.51 for the third quarter ended September 30, 2026. Operating income increased 7%, and the quarterly dividend was raised 4% to $1.93 per share.
McDonald's plans to gain one and a half share points in chicken and beverages by 2030, deliver about 250 basis points of gross restaurant level efficiency, and reach operating margins in the low to mid 50 range by 2030.
McDonald’s announced McDonald’s > NEXT targets for +1.5pp chicken and +1.5pp beverage share gains by 2030, operating margin in the low-to-mid 50% range, and about 250 bps of restaurant efficiency gains.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q2 FY26 earnings call · Aug 4, 2026TL;DR. McDonald's reported Q2 global comparable sales growth of 1.3% but U.S. comparable sales of just 0.8% on execution missteps including an inconsistent rollout of the EDAP value menu and too many restaurant deployments; the company cut its full-year FX tailwind to ~$0.15 from $0.20–$0.30 and pushed its 50,000-restaurant target to 2028 from 2027, while appointing Skye Anderson as new U.S. President to drive the 'McDonald's Next' strategy.
- + Loyalty systemwide sales grew over 20% to $40 billion with 90-day active loyalty users up 13% to nearly 220 million.
- + New beverage platform exceeded expectations in lead markets with strong check and food attachment.
- + International segments posted positive comps with Japan delivering a 10th consecutive quarter of positive comparable guest count growth.
- − U.S. operations worsened in Q2 as restaurant teams were overwhelmed by too many deployments, hurting service times and satisfaction.
- − Company lowered full-year FX tailwind on adjusted EPS to about $0.15 from prior range of $0.20–$0.30.
- − Target to reach 50,000 restaurants globally pushed back to 2028 from prior end-of-2027 target.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
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Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Systemwide sales - International Developmental Licensed Markets | 8% | Quarter Ended June 30, 2026 filing | — |
| Systemwide sales - International Operated Markets | 6% | Quarter Ended June 30, 2026 filing | — |
| Systemwide sales - Total Company | 5% | Quarter Ended June 30, 2026 filing | — |
| Systemwide sales - U.S. | 2% | Quarter Ended June 30, 2026 filing | — |
| 90-day active loyalty users | 220M | as of quarter-end | — |
| Comparable sales - Total Company | 2.5% | Six Months Ended June 30, 2026 | — |
| Franchised sales - Total | $34.45B | Quarters Ended June 30, 2026 | — |
| Global comparable sales | 1.3% | Quarters Ended June 30, 2026 | — |
| Global Systemwide sales | 37B | the quarter | — |
| International Developmental Licensed Markets comparable sales | 1.9% | Quarters Ended June 30, 2026 | — |
| International Operated Markets comparable sales | 1.5% | Quarters Ended June 30, 2026 | — |
| Non-GAAP diluted earnings per share non-GAAP | $3.38 | Quarters Ended June 30, 2026 | — |
| Non-GAAP net income non-GAAP | $4.42B | Six Months Ended June 30, 2026 | — |
| Non-GAAP operating income non-GAAP | 6.39B | Six months ended June 30, 2026 | — |
| Non-GAAP operating margin non-GAAP | 46.9% | Six months ended June 30, 2026 | — |
| Operating margin | 46.2% | Six months ended June 30, 2026 | — |
| Systemwide restaurants | 46,028 | At June 30, 2026 | — |
| Systemwide sales Inc/(Dec) - Total Company | 8% | Six Months Ended June 30, 2026 | — |
| Systemwide sales to loyalty members (trailing twelve months) | 40B | trailing twelve months as of quarter-end | — |
| Total International Developmental Licensed Markets restaurants | 21,341 | At June 30, 2026 | — |
| Total International Operated Markets restaurants | 10,918 | At June 30, 2026 | — |
| U.S. restaurants | 13,769 | At June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Restaurants — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
MCD
this stock
Mcdonalds Corp
|
$191.95B | -11.0% | +3.7% | 21.5 | 1.7% |
|
SBUX
Starbucks Corp
|
$121.35B | +26.4% | +2.0% | 48.2 | 3.9% |
|
CMG
Chipotle Mexican Grill Inc
|
$44.63B | -4.6% | +5.4% | 33.0 | 3.3% |
|
YUM
Yum Brands Inc
|
$43.28B | +6.6% | +8.8% | 13.0 | 4.7% |
|
QSR
Restaurant Brands International Inc.
|
$34.03B | +10.5% | +12.2% | 17.6 | 3.6% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| MCD | -1.7% | +11.9% | -2.6% | +5.4% | -11.0% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -4.2% | +13.1% | -3.1% | +5.6% | -21.6% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.