McDonald's (MCD) Q3 2026 Earnings Review: profit grows as U.S. customer visits fall
Earnings results
- EPS beat
Actual: $3.57 adjusted profit per share · Cons.: $3.38
- Revenue miss
Actual: $7.157B · Cons.: about $7.28B
- Guidance
No new earnings outlook provided in the release.
What the company reported
Adjusted profit per share rose 11% to $3.57 and beat estimates, but a decline in U.S. customer visits left domestic same-store sales slightly lower.
Q3 2026 earnings recap
McDonald's grew profit faster than sales in Q3, but falling U.S. customer visits leave its recovery dependent on value offers winning diners back.
- Adjusted profit per share rose 11% to $3.57, topping the $3.38 estimate, while revenue grew just 1% to $7.16 billion and missed the roughly $7.28 billion forecast.
- Operating profit rose 7%, helped by stronger franchised margins and a $102 million increase in other operating income, so the improvement was broader than restaurant sales alone.
- U.S. same-store sales, covering restaurants open at least 13 months, fell 0.2% as fewer visits outweighed higher average spending per customer.
- International operated markets grew same-store sales 1.4% and licensed markets grew 4.2%, providing a cushion while the U.S. business works to regain momentum.
- The November 3 closing price valued McDonald's at about 20.8 times trailing reported profit, making durable growth more important than a single earnings beat.
- Shares traded about 2.1% above the previous close before open on November 4, following a prior close above both the 20-day and 50-day moving averages.
With no new earnings outlook in the release, watch whether value offers rebuild U.S. traffic without sacrificing restaurant profitability.
Financials, technicals and earnings
Charts through Nov 3, 2026.
Technical setup and risks
Higher franchised margins and other operating income supported profits despite slow sales growth; investors now need evidence that value offers can restore traffic sustainably.
AI-assisted earnings research with verified issuer results. Charts use the stated completed session. Educational information; investing involves risk.